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Angiodynamics, Inc. (ANGO)
:ANGO
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AngioDynamics
(NASDAQ:ANGO)
50Neutral
Positive Factors
Financial Performance
Top and bottom-line beat in F2Q25; FY25 adjusted EBITDA guidance increased.
Market Expansion
The FDA clearance should enable the company to expand the commercial footprint of NanoKnife, which could help drive the company’s Med Tech sales growth.
Product Approval
FDA approves NanoKnife System for prostate tissue ablation.
Negative Factors
Market Competition
The expected presentation of full trial data at the American Urological Association annual meeting could potentially drive further awareness, but also intensify scrutiny and competition in the field.
Regulatory Challenges
The benefit will mainly be from more streamlined access for therapy with the CAT I code, with likely fewer prior authorization hurdles for patients and providers seeking to utilize the therapy, yet these changes might not fully eliminate regulatory and reimbursement challenges.
AngioDynamics (ANGO) vs. S&P 500 (SPY)
Market Cap
$384.42M
Dividend YieldN/A
Average Volume (3M)508.49K
Price to Earnings (P/E)―
Beta (1Y)0.04
Revenue Growth-13.06%
EPS Growth-1480.95%
CountryUS
Employees748
SectorHealthcare
Sector Strength72
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-5.58
Shares Outstanding40,465,710
10 Day Avg. Volume505,897
30 Day Avg. Volume508,488
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)1.40
Price to Cash Flow (P/CF)40.60
P/FCF Ratio40.60
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$15.33Price Target Upside61.37% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
AngioDynamics Business Overview & Revenue Model
Company DescriptionAngioDynamics, Inc. designs, manufactures, and sells various medical, surgical, and diagnostic devices used by professional healthcare providers for the treatment of peripheral vascular disease and vascular access; and for use in oncology and surgical settings in the United States and internationally. The company provides NanoKnife ablation systems for the surgical ablation of soft tissues; solero microwave tissue ablation systems; and radiofrequency ablation products for ablating solid cancerous or benign tumors. It also offers BioSentry tract sealant systems, IsoLoc Endorectal Balloon's, alatus vaginal balloon packing systems, angiographic catheters, guidewires, percutaneous drainage catheters, and coaxial micro-introducer kits. In addition, the company provides endovascular therapies products in the areas of thrombus management, atherectomy, peripheral products (Core), and venous insufficiency. Additionally, the company offers peripherally inserted central catheters, midline catheters, implantable ports, dialysis catheters, and related accessories and supplies that are used primarily to deliver short-term drug therapies, such as chemotherapeutic agents and antibiotics, into the central venous system under the BioFlo, BioFlo Midline, BioFlo PICC, Xcela PICC, PASV, BioFlo Port, SmartPort, Vortex, LifeGuard, BioFlo DuraMax, and DuraMax names. It sells and markets its products to interventional radiologists, interventional cardiologists, vascular surgeons, urologists, interventional and surgical oncologists, and critical care nurses directly, as well as through distributor relationships. The company was founded in 1988 and is headquartered in Latham, New York.
How the Company Makes MoneyAngioDynamics generates revenue primarily through the sale of its medical devices and products to healthcare providers. The company's key revenue streams include direct sales to hospitals and healthcare facilities, as well as distribution agreements with third-party distributors. AngioDynamics leverages its extensive sales network and strategic partnerships to expand its market reach and enhance its product offerings. Revenue is also driven by the company's focus on research and development, resulting in innovative products that address unmet clinical needs. Additionally, AngioDynamics may earn revenue through licensing agreements and collaborations with other medical technology companies, contributing to its overall earnings.
AngioDynamics Financial Statement Overview
Summary
AngioDynamics is facing financial headwinds characterized by declining revenues, negative profitability margins, and cash flow challenges. While the balance sheet reflects a strong equity position and no current debt, the company's ability to generate cash and profit remains weak. Strategic improvements in operational efficiency and revenue growth are necessary for financial health enhancement.Income Statement
AngioDynamics has experienced a decline in revenue, with a negative revenue growth rate over the past year from $338.75M to $286.50M TTM. Gross profit margin is around 50.66% TTM, indicating efficiency in managing production costs. However, the company is facing significant challenges with negative EBIT and net income margins, reflecting ongoing profitability issues.45
Neutral
Balance Sheet
The company maintains a strong equity position with an equity ratio of approximately 64.05% TTM, indicating a solid capital structure. Absence of debt in the latest period reduces financial risk. However, the negative return on equity suggests that the company is not generating sufficient returns for shareholders.55
Neutral
Cash Flow
AngioDynamics is struggling with negative operating and free cash flows, which impacts its ability to reinvest or reduce liabilities. The free cash flow growth rate is negative, highlighting cash flow management issues. The operating cash flow to net income ratio is concerning, signaling poor conversion of income to cash.40
Negative
| Breakdown | |||||
| TTM | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 286.50M | 303.91M | 338.75M | 316.22M | 291.01M | 264.16M | Gross Profit |
| 145.15M | 154.70M | 174.25M | 165.73M | 156.79M | 150.27M | EBIT |
| -33.01M | -192.44M | -19.23M | -19.01M | -14.87M | -14.17M | EBITDA |
| -14.43M | -14.29M | 12.19M | 11.13M | -8.90M | -143.74M | Net Income Common Stockholders |
| -224.72M | -184.35M | -52.44M | -26.55M | -31.55M | -165.79M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 85.78M | 76.06M | 44.62M | 28.82M | 48.16M | 54.44M | Total Assets |
| 412.30M | 317.67M | 532.64M | 552.75M | 561.44M | 595.51M | Total Debt |
| 6.87M | 5.91M | 49.82M | 33.78M | 20.00M | 40.84M | Net Debt |
| -30.64M | -71.33M | 5.20M | 4.96M | -28.16M | -13.60M | Total Liabilities |
| 25.39M | 112.08M | 154.34M | 128.26M | 121.98M | 139.64M | Stockholders Equity |
| 386.91M | 205.59M | 378.30M | 424.49M | 439.46M | 455.87M |
| Cash Flow | Free Cash Flow | ||||
| -34.63M | -33.93M | -4.27M | -11.49M | 10.38M | -22.14M | Operating Cash Flow |
| -23.30M | -28.16M | 78.00K | -7.19M | 24.09M | -14.55M | Investing Cash Flow |
| 22.70M | 123.72M | -9.75M | -19.31M | -13.71M | -63.34M | Financing Cash Flow |
| -5.94M | -64.25M | 25.42M | 7.68M | -16.99M | -95.24M |
AngioDynamics Technical Analysis
Neutral
9.50
Price Trends
10.45
Negative
9.40
Positive
8.16
Positive
Market Momentum
-0.07
Negative
45.54
Neutral
50.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ANGO, the sentiment is Neutral. The current price of 9.5 is above the 20-day moving average (MA) of 9.47, below the 50-day MA of 10.45, and above the 200-day MA of 8.16, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 45.54 is Neutral, neither overbought nor oversold. The STOCH value of 50.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ANGO.
AngioDynamics Risk Analysis
AngioDynamics disclosed 34 risk factors in its most recent earnings report. AngioDynamics reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
AngioDynamics Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $112.39B | 26.63 | 8.42% | 3.18% | 2.72% | 4.48% | |
74 Outperform | $10.31B | 777.79 | 1.20% | ― | 12.86% | -84.18% | |
71 Outperform | $1.82B | 13.84 | 14.74% | 1.36% | 4.98% | 104.60% | |
68 Neutral | $41.54B | 28.95 | 17.17% | ― | -4.67% | 6.23% | |
52 Neutral | $1.67B | ― | -0.44% | ― | 4.47% | -110.70% | |
50 Neutral | $384.42M | ― | -76.44% | ― | -13.06% | -1480.95% | |
49 Neutral | $6.85B | 0.81 | -52.91% | 2.50% | 17.48% | 1.17% |
* Healthcare Sector Average
Performance Comparison
ANGO
AngioDynamics
9.50
3.67
62.95%
CNMD
Conmed
58.85
-19.20
-24.60%
EW
Edwards Lifesciences
70.91
-23.34
-24.76%
IART
Integra Lifesciences
21.69
-13.03
-37.53%
MDT
Medtronic
87.63
3.45
4.10%
PEN
Penumbra
267.56
50.17
23.08%
AngioDynamics Earnings Call Summary
Earnings Call Date: Jan 8, 2025 | % Change Since: 1.06% | Next Earnings Date: Apr 2, 2025
Earnings Call Sentiment Positive
The earnings call presented a strong performance in revenue growth and profitability, especially within the Med Tech segment, driven by innovations like AlphaVac and NanoKnife. However, challenges persist in Med Device revenue stagnation and manufacturing transition costs, tempering overall financial improvements.Highlights
Strong Revenue Growth
Total worldwide revenue was $73 million, representing growth of approximately 9% year-over-year. Med Tech segment grew 25%.
Mechanical Thrombectomy Success
Combined growth of 46% in mechanical thrombectomy products, with AlphaVac revenue increasing by 33% and AngioVac by 51%.
Auryon Platform Growth
Auryon platform contributed $13.7 million in revenue, growing 21.8% compared to last year.
Positive NanoKnife Developments
NanoKnife probe revenue increased by 23%, with multiple key milestones achieved, including FDA clearance for prostate tissue ablation.
Improved Financial Performance
Adjusted EBITDA of $3.1 million compared to a loss of $10,000 last year, and $2.5 million in operating cash flow generated.
Lowlights
Flat Med Device Revenue
Med Device revenue was flat compared to the second quarter of FY 2024, with only a 2% increase in the U.S.
Ongoing Manufacturing Transition Costs
Costs associated with the transition to outsourced manufacturing impacted Med Device gross margin.
Adjusted EPS Loss
Adjusted EPS was a loss of $0.04 per share, although improved from a loss of $0.08 per share in fiscal 2024.
Company Guidance
During the AngioDynamics Fiscal Year 2025 Second Quarter Earnings Call, the company provided guidance indicating strong financial performance, with total worldwide revenue reaching $73 million, a 9% year-over-year increase. The Med Tech segment experienced robust growth of 25%, driven by products like Auryon and mechanical thrombectomy devices such as AlphaVac and AngioVac, which saw a combined growth of 46%. The company reported an adjusted EBITDA of $3.1 million and generated $2.5 million in operating cash flow, highlighting its focus on profitability. AngioDynamics expects to achieve positive adjusted EBITDA for the full fiscal year and anticipates revenue for fiscal year 2025 to range between $282 million and $288 million, reflecting a growth of 4.2% to 6.4%. Additionally, they project Med Tech net sales to grow by 12% to 15%, with gross margins expected to be in the range of 52% to 53%.AngioDynamics Corporate Events
Business Operations and StrategyFinancial Disclosures
AngioDynamics Highlights Strategic Growth at Healthcare Conference
Positive
Jan 16, 2025
On January 16, 2025, AngioDynamics’ CEO, James Clemmer, presented at the J.P. Morgan 43rd Annual Healthcare Conference, highlighting the company’s strategic direction and future financial outlook. The presentation underscored AngioDynamics’ commitment to innovation and growth, with expectations to achieve adjusted EBITDA positivity by FY2025 and cash flow positivity by FY2026. The company is poised for sustained growth, focusing on expanding its Med Tech segment and optimizing its portfolio through strategic initiatives, despite the challenges posed by economic conditions and regulatory landscapes.
Product-Related AnnouncementsBusiness Operations and Strategy
AngioDynamics Hosts Virtual NanoKnife Investor Event
Positive
Jan 8, 2025
AngioDynamics will host a virtual NanoKnife Irreversible Electroporation Prostate Investor Event, highlighting its FDA-cleared non-thermal radiation-free ablation technology for prostate cancer treatment. The company is dedicated to transforming its product portfolio and improving its financial profile by investing in R&D, clinical data generation, and strategic business development to drive growth in larger, faster-growing markets.
Product-Related AnnouncementsBusiness Operations and StrategyFinancial Disclosures
AngioDynamics Reports Growth and Advances NanoKnife System
Positive
Jan 8, 2025
AngioDynamics reported its fiscal year 2025 second-quarter financial results, highlighting a 9.2% increase in net sales driven by strong performance in its Med Tech segment, which grew by 25%. The company achieved key milestones for its NanoKnife System, receiving CPT Category I Codes and FDA 510(k) clearance for prostate tissue ablation, positioning it for accelerated growth. Despite a GAAP net loss, AngioDynamics showed improved adjusted earnings, raised its fiscal year guidance, and saw positive developments in its NanoKnife technology, enhancing its market positioning and reimbursement prospects.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.