Why AngioDynamics Stock Got Destroyed Today

Investors in AngioDynamics (NASDAQ: ANGO), inventor of the innovative Nanoknife device for electrocuting cancer cells, got an unpleasant shock of their own on Friday morning. Though the company reported a smaller adjusted loss than had been forecast for its fiscal 2024 second quarter, it also reported smaller than expected revenues, and offered worse guidance for the rest of its fiscal year.

As of 3 p.m. ET, AngioDynamics shares were down by 21.1%.

For the period, which ended Nov. 30, AngioDynamics' sales grew by less than 3% year over year to $79.1 million, missing Wall Street's consensus estimate of $82 million. The company also suffered a small decline in gross profit margins, from 51.7% in the prior-year period to 50.9%.

Source Fool.com