Analysts Sees Synergies and Struggles in AngioDynamics' (ANGO) Latest Acquisition
AngioDynamics (NASDAQ: ANGO) recently reported first quarter earnings, with revenue in line with guidance. ANGO also announced the acquisition of Vortex Medical.
"On the plus side, we see potentially positive synergies with ANGO's existing PV line. That said, the purchase price was expensive, and we think ANGO's sales reps could be challenged to absorb another product in the near term," said analyst Jason R. Mills of Canaccord Genuity.
Canaccord Genuity maintained a Hold rating on AngioDynamics and cut its price target to $13.50 (from $14.50).
For an analyst ratings summary and ratings history on AngioDynamics click here. For more ratings news on AngioDynamics click here.
Shares of AngioDynamics closed at $12.82 yesterday, with a 52 week range of $10.34-$16.39.
"On the plus side, we see potentially positive synergies with ANGO's existing PV line. That said, the purchase price was expensive, and we think ANGO's sales reps could be challenged to absorb another product in the near term," said analyst Jason R. Mills of Canaccord Genuity.
Canaccord Genuity maintained a Hold rating on AngioDynamics and cut its price target to $13.50 (from $14.50).
For an analyst ratings summary and ratings history on AngioDynamics click here. For more ratings news on AngioDynamics click here.
Shares of AngioDynamics closed at $12.82 yesterday, with a 52 week range of $10.34-$16.39.