Medical Devices Focused AngioDynamics Unveils Upbeat 2024 Financial Outlook, Stock Soars
Portfolio Pulse from Vandana Singh
AngioDynamics Inc. (ANGO) received FDA 510(k) clearance for its AlphaVac F1885 System for pulmonary embolism, expanding treatment options. The APEX-AV study showed significant improvements in patient outcomes. Despite a slight miss in Q3 2024 sales against consensus, the company's pro forma sales showed growth. AngioDynamics provided an upbeat FY2024 financial outlook, expecting sales between $270 million-$275 million and an adjusted EPS of $(0.54)-$(0.58), leading to an 11.9% increase in ANGO shares to $6.81.
April 04, 2024 | 4:53 pm
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AngioDynamics Inc. received FDA clearance for its AlphaVac F1885 System, reported slight miss in Q3 2024 sales but showed growth in pro forma sales, and provided an optimistic FY2024 financial outlook.
The FDA clearance for the AlphaVac F1885 System expands AngioDynamics' market potential and treatment options, positively impacting its stock. The APEX-AV study results further support the product's efficacy. Despite a slight miss in Q3 sales, the company's growth in pro forma sales and optimistic FY2024 outlook, including expected sales and adjusted EPS, likely contributed to the 11.9% increase in stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100