AngioDynamics (ANGO) Strong On High Relative Volume Today

Trade-Ideas LLC identified AngioDynamics ( ANGO) as a strong on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified AngioDynamics as such a stock due to the following factors:

  • ANGO has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $2.5 million.
  • ANGO has traded 77,605 shares today.
  • ANGO is trading at 11.65 times the normal volume for the stock at this time of day.
  • ANGO is trading at a new high 5.33% above yesterday's close.

'Strong on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as M&A events, material stock news, analyst upgrades, insider buying, buying from 'superinvestors,' or that hedge funds and momentum traders are piling into a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize. In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success.

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More details on ANGO:

AngioDynamics, Inc. designs, manufactures, and sells various medical, surgical, and diagnostic devices for vascular access, surgery, peripheral vascular disease, and oncology in the United States and internationally. Currently there are 2 analysts that rate AngioDynamics a buy, no analysts rate it a sell, and 3 rate it a hold.

The average volume for AngioDynamics has been 116,800 shares per day over the past 30 days. AngioDynamics has a market cap of $527.3 million and is part of the health care sector and health services industry. The stock has a beta of 1.10 and a short float of 3.6% with 5.78 days to cover. Shares are up 19.4% year-to-date as of the close of trading on Tuesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates AngioDynamics as a hold. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year.

Highlights from the ratings report include:
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Health Care Equipment & Supplies industry. The net income increased by 114.8% when compared to the same quarter one year prior, rising from -$4.26 million to $0.63 million.
  • Despite its growing revenue, the company underperformed as compared with the industry average of 7.9%. Since the same quarter one year prior, revenues slightly increased by 0.7%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • ANGIODYNAMICS INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, ANGIODYNAMICS INC swung to a loss, reporting -$0.09 versus $0.08 in the prior year. This year, the market expects an improvement in earnings ($0.56 versus -$0.09).
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Health Care Equipment & Supplies industry and the overall market, ANGIODYNAMICS INC's return on equity significantly trails that of both the industry average and the S&P 500.
  • ANGO has underperformed the S&P 500 Index, declining 11.67% from its price level of one year ago. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.

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