In a recent transaction, Stephen A. Trowbridge, the Executive Vice President and Chief Financial Officer (CFO) of AngioDynamics Inc. (NASDAQ:ANGO), acquired additional shares of the company's stock. On October 8, 2024, Trowbridge purchased 1,700 shares at a price of $5.86 per share, amounting to a total investment of $9,962.
This purchase by the CFO has increased his direct ownership in the medical device company to a total of 172,711 shares. The transaction, which was publicly filed, reflects Trowbridge's continued commitment to AngioDynamics, a company known for its surgical and medical instruments and apparatus.
Investors often monitor insider transactions such as these for insights into how executives view the financial prospects of their companies. The purchase by Trowbridge at the stated price can be seen as a sign of confidence in the future of AngioDynamics Inc.
The stock purchase by AngioDynamics' CFO comes as part of the regular financial disclosures that executives are required to make. These transactions are publicly reported to ensure transparency and to comply with regulations.
For those following AngioDynamics Inc., such insider activity can be an important factor to consider when evaluating the company's stock performance and future potential.
In other recent news, AngioDynamics reported a modest 1.1% year-over-year increase in net sales for the first quarter of fiscal year 2025, totaling $67.5 million. Despite falling short of analysts' expectations, the company's MedTech segment, including Auryon and AlphaVac products, saw a nearly 9% revenue boost. However, the Med Device segment experienced a downturn, with sales dropping 3.6% to $39.5 million. The company's net loss was reported at $12.8 million, more substantial than the anticipated $11.1 million loss.
Despite these mixed results, AngioDynamics' management reiterated its full-year 2025 guidance, anticipating net sales between $282-288 million. Analysts from H.C. Wainwright and Oppenheimer maintained positive ratings for the company, affirming Buy and Outperform ratings respectively.
In addition to the financial results, AngioDynamics disclosed plans for operational changes, including a transition to outsourced manufacturing. This move is projected to result in significant annual savings by fiscal 2027. These are among the recent developments that reflect changes in the company's operational strategy and market dynamics.
InvestingPro Insights
Stephen A. Trowbridge's recent purchase of AngioDynamics Inc. (NASDAQ:ANGO) shares aligns with several key insights from InvestingPro. The CFO's decision to increase his stake comes at a time when the stock appears to be in oversold territory, according to the Relative Strength Index (RSI), as noted by an InvestingPro Tip. This could suggest that Trowbridge sees value in the company's shares at current levels.
The company's financial health shows some positive signs, with InvestingPro Data indicating that AngioDynamics holds more cash than debt on its balance sheet and its liquid assets exceed short-term obligations. These factors may have influenced Trowbridge's decision to invest further in the company.
However, investors should be aware that AngioDynamics faces some challenges. The company's revenue for the last twelve months as of Q1 2023 stood at $292.73 million, with a concerning revenue growth decline of -12.85% over the same period. Additionally, the company was not profitable over the last twelve months, with a negative operating income of $38.59 million.
Despite these headwinds, Trowbridge's purchase could be seen as a vote of confidence in the company's future prospects. It's worth noting that InvestingPro Tips highlight that analysts do not anticipate the company to be profitable this year, which makes the insider buying particularly interesting.
For investors seeking a more comprehensive analysis, InvestingPro offers 9 additional tips for AngioDynamics, providing a deeper understanding of the company's financial situation and market position.
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