Trader’s Buzzers – AngioDynamics, Inc. (NASDAQ:ANGO)
On Thursday, Shares of AngioDynamics, Inc. (NASDAQ:ANGO), gained 1.68% to $17.58. The 52-week range of the share price is from $10.71 – $18.18. The beta value for this stock stands at 1.03 points, while its earnings per share (EPS) was $-0.76. The company has total market capitalization of $664.57M and a total of -0.76 outstanding shares.
AngioDynamics (ANGO), a leading provider of innovative, minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology, today stated financial results for the 2017 fiscal year third quarter ended February 28, 2017.
Third Quarter 2017 Financial Results:
Net sales for the fiscal third quarter were $85.60M contrast with $87.40M a year ago. Currency did not have an impact in the quarter.
The following comparisons exclude the Boston Scientific supply agreement.
Peripheral Vascular net sales in the third quarter were $48.50M contrast to $49.80M in the fiscal year 2016 third quarter. Vascular Access net sales in the third quarter were $23.70M contrast to $24.90M a year ago. Oncology/Surgery net sales in the third quarter were $13.0M contrast to $12.10M in the fiscal year 2016 third quarter. Overall U.S. net sales in the third quarter were $67.40M contrast to $69.50M in the year ago third quarter. Overall International net sales in the third quarter were $17.80M contrast to $17.20M a year ago.
In the third quarter of fiscal 2017, the Company recorded net income of $2.90M, or $0.08 on a per share basis. The Company recorded net income of $0.60M, or $0.02 on a per share basis, in the third quarter of fiscal 2016. Apart from the items shown in the attached quarterly non-GAAP reconciliation table, adjusted net income for the third quarter of fiscal 2017 was $6.90M, or $0.19 per share, contrast to an adjusted net income of $5.40M, or $0.15 per share, in the third quarter of fiscal 2016.
Adjusted EBITDA in the third quarter of fiscal 2017, apart from the items shown in the attached reconciliation table, was $15.50M contrast to $13.90M in the third quarter of fiscal 2016.
In the third quarter of fiscal 2017, the Company generated $14.40M in operating cash flow and $14.0M in free cash flow. As of February 28, 2017, cash and cash equivalents were $35.60M and debt was $98.80M.
“Our commitment to prudent financial administration during the quarter was evidenced by year-over-year and sequential gross margin expansion, EPS growth and strong cash flow,” said Michael Greiner, Executive Vice President and Chief Financial Officer of AngioDynamics. “To further enhance our financial performance and support our operations, the consolidation of our manufacturing operations, which is predictable to be accomplished and fully integrated by the end of the third quarter of the 2018 fiscal year, will drive additional efficiencies and improve margins. We are confident that a solid operating platform and strong balance sheet will fuel our long-term growth potential.”
Nine Months Financial Results:
For the nine months ended February 28, 2017, net sales were $262.70M contrast to $260.50M a year ago. The Company’s net income was $17.90M, or $0.49 per share, contrast to a net loss of $0.50M, or $0.01 per share a year ago. Apart from the items shown in the attached quarterly non-GAAP reconciliation table, adjusted net income was $20.20M, or $0.55 per share, contrast to adjusted net income of $14.40M, or $0.40 per share, a year ago. Adjusted EBITDA, apart from the items shown in the attached reconciliation table, was $46.50M contrast to $38.90M in the year ago period.
Fiscal Year 2017 Financial Guidance:
The company is revising its FY2017 revenue guidance from a range of $355.0M to $360.0M to a range of $352.0M to $355.0M. The company is increasing its FY2017 adjusted EPS guidance from a range of $0.65 to $0.67 to a range of $0.68 to $0.70. The company’s free cash flow guidance remains unchanged at greater than $35.0M.
Technical Analysis:
The average true range of the stock is recorded at 0.38 and the relative strength index of the stock stands 72.99. The stock price is going above to its 52-week low with +64.15% and down from its 52-week high with -3.30%.
The stock has shown weekly performance of 3.90% and monthly performance stands at 5.40%. The stock price is trading upbeat from its 200 days moving average with 7.58% and up from 50 days moving average with 5.82%.
Analyst recommendation for this stock stands at 2.60.