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AngioDynamics, Inc. (ANGO) designs, develops, manufactures, and markets various therapeutic and diagnostic devices that enable interventional physicians to treat PVD, tumors, and other non-coronary diseases. The company operates in two divisions, Vascular and Oncology/Surgery.

It is scheduled to report its Q4 2012 results on July 12, 2012, after the bell. In this article I will recap the historical results of the company, latest EPS estimates vs. surprises, latest developments and closest competitors' development.

Technical Overview


The stock has a market capitalization of $305.17M and is currently trading at $12.11 with a 52 week range of $11.35 - $16.39. The stock performance year to date: -18.23%. It is currently trading below 20, 50 and 200 SMA.

Key Metrics

  • Trailing P/E: 295.37
  • Forward P/E: 25.23
  • Price/Sales: 1.38
  • Price/Book: 0.74
  • PEG Ratio: 20.18
  • Total Debt: 7.53M
  • Annual dividend yield: N/A
  • Return on Equity: 0.26%
  • Return on Assets: 2.13%

Recent EPS Actuals vs. Estimates

The company has met or beaten analysts' estimates in the last four quarters. In the last quarter it reported $0.09 EPS, beating analyst estimates of $0.08.

The consensus EPS is $0.09 based on 6 analysts' estimates, down from $0.11 a year ago. Revenue estimates are $52.47M, down from $56.43M a year ago. The median target price by analysts for the stock is $13.00.

Average recommendation: Hold

Source: Marketwatch

Analyst Upgrades and Downgrades

  • On June 24, 2012, the company was downgraded from Buy to Hold at Canaccord Genuity.

Latest Developments

  • On May 22, 2012, AngioDynamics Inc announced that it has completed its acquisition of Navilyst Medical. Based on the closing price of $12.44 on May 21, 2012 the transaction is valued at $355 million.
  • On April 4, 2012, AngioDynamics, Inc. announced that for the fourth quarter of 2012, it expects sales to be between $52.1 - $54.1 million, Operating Income of $3.5 - $4.5 million, EBITDA to be between $7.0 - $8.0 million and EPS of $0.09 - $0.11. For fiscal 2012, it expects sales to be between $216.2 - $218.2 million, Operating Income of $17.6 - $18.6 million, EBITDA to be between $30.9 - $31.9 million and EPS of $0.42 - $0.44.
  • On March 26, 2012, AngioDynamics, Inc. announced a strategic relationship with privately-held Microsulis Medical Ltd. Microsulis is a medical device company specializing in minimally invasive, microwave ablation technology for the coagulation of soft tissue and has systems in more than 80 hospitals world-wide.
  • On February 14, 2012, AngioDynamics, Inc. announced that the U.S. Food and Drug Administration has granted 510 clearance for its NeverTouch Direct Procedure Kit for use with the Company's VenaCure EVLT Laser Vein Ablation System.
  • On January 31, 2012, AngioDynamics, Inc. announced it has entered into a definitive agreement to acquire privately-held Navilyst Medical in a transaction valued at $372 million based on yesterday's closing stock price of $14.20. Navilyst Medical is a global medical device company with particular strengths in the vascular access, interventional radiology and interventional cardiology markets.
  • On January 24, 2012, AngioDynamics, Inc. announced that it has initiated a voluntary recall in the U.S. of the NanoKnife System's Ablation Zone Estimator (AZE) software, including the User's Manual and Troubleshooting Guide.

Competitors

AngioDynamics Inc. operates in Medical Instruments & Supplies industry. The company could be compared to CR Bard Inc. (BCR), Edwards Lifesciences Corp. (EW), NuVasive, Inc. (NUVA), and Vascular Solutions Inc. (VASC). Below is the table comparison of the most important ratios between these companies and the industry.

Below is the chart comparison with the stock price changes as a percentage for the selected companies and S&P 500 index for the last one year period.

(click to enlarge)ANGO Chart

ANGO data by YCharts

Competitors' Latest Development

  • On June 14, 2012, Edwards Lifesciences Corporation announced that a U.S. Food and Drug Administration (FDA) Advisory Panel voted in favor of recommending approval of the Edwards SAPIEN transcatheter heart valve via transfemoral and transapical delivery for the treatment of high-risk patients with severe, symptomatic aortic stenosis.
  • On June 13, 2012, C R Bard Inc announced that it authorized the repurchase of up to $500 million of the Company's common stock. This is in addition to approximately $88 million remaining under the June 2010 authorization.
  • On June 11, 2012, Reuters reported that U.S. Food and Drug Administration staff said that Edwards Lifesciences Corp's Sapien heart valve met its primary safety and effectiveness goals in research, but expressed caution about the risk of stroke and aortic leakage.
  • On June 8, 2012, Edwards Lifesciences Corporation announced that it has received conditional Investigational Device Exemption (IDE) approval from the U.S. Food and Drug Administration (FDA) to initiate a clinical trial to study its GLX tissue treatment platform applied to a surgical bovine pericardial heart valve.
  • On April 30, 2012, C R Bard Inc announced that Christopher S. Holland has been named Senior Vice President and Chief Financial Officer, effective May 21, 2012.
  • On April 30, 2012, NuVasive, Inc. announced that for fiscal 2012, it expects revenue of approximately $615 million, GAAP EPS of approximately $0.09 and Non-GAAP earnings per share (EPS) of approximately $0.93. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $616 million and EPS of $0.94 for fiscal 2012.
  • On April 24, 2012, Edwards Lifesciences Corporation announced that for second quarter of 2012, it expects total sales in the range of $470-$500 million and diluted earnings per share , excluding special items, to be between $0.64-$0.68. For fiscal 2012, sales at the low end of original range of $1.95 billion to $2.05 billion, which is approximately 20% underlying growth.
  • On April 24, 2012, C R Bard Inc announced that for fiscal 2012, it expects constant currency sales growth to be in the range of 4%-7% and earnings per share excluding items affecting comparability, if any to be $1.61-1.65. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $758 million and EPS of $1.64 for second quarter of 2012.
  • On February 22, 2012, NuVasive, Inc. announced that for fiscal 2012, it expects revenue of approximately $615 million, GAAP EPS of approximately $0.09 and Non-GAAP EPS of approximately $0.93. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $615 million and Non-GAAP EPS of $1.01 for fiscal 2012.
  • On February 2, 2012, Edwards Lifesciences Corporation announced that for the first quarter of 2012, it project total sales of $440 million to $460 million and continue to expect fiscal 2012 sales of $1.95 to $2.05 billion.
  • On February 1, 2012, C R Bard Inc announced that for first quarter of 2012, it expects constant currency sales growth to be 4%-7% and earnings per share , excluding items affecting comparability if any, to be $1.53-$1.57. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $733 million and EPS of $1.55 for first quarter of 2012.
  • On January 11, 2012, NuVasive, Inc. announced that for fiscal 2011, it expects revenue of approximately $540 million, including approximately $8.5 million attributable to the acquisition of Impulse Monitoring, Inc. which closed on October 7, 2011, this guidance range compares with previously issued guidance of $538 million to $540 million in revenues for fiscal 2011.

Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.

Source: Earnings Preview: AngioDynamics