Short Selling Analysis AngioDynamics, Inc. (NASDAQ:ANGO)

Apr. 23, 2015 2:10 PM ETANGO
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Short Selling Analysis : AngioDynamics, Inc. (ANGO) - Short Sellers Traget Price $ 12.00 .

An investigation on behalf of investors of AngioDynamics, Inc. shares over potential securities laws violations by AngioDynamics, Inc. and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of AngioDynamics, Inc. concerning whether a series of statements by AngioDynamics, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

AngioDynamics Inc. reported unimpressive third-quarter fiscal 2015 results. EPS adjusted for one-time expenses were 12 cents, which missed the Zacks Consensus Estimate by 4 cents and fell 14.3% from the year-ago quarter. The decline can be primarily attributed to lower sales and contracting margins in the quarter.Sales declined 1.8% (flat at constant currency) year over year to $86.6 million and also fell below the Zacks Consensus Estimate of $89 million. During the quarter, the company voluntarily recalled the Morpheus PICC product, which coupled with currency headwinds (a stronger dollar against Euro and Canadian dollar) and extreme winter weather conditions in the U.S. impacted sales.

Intensifying competition, foreign exchange headwind, sluggish macro-economic environment and the product recall are major concerns in the near term.

Although the partnership with EmboMedics will help AngioDynamics to re-enter the embolic market, we believe that it will take considerable time for the company to gain significant momentum in this industry.

Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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