Is This Under-the-Radar Medical Devices Stock a Buy?

The mantra of growth investing is to find and pay a fair price for quality stocks that are in the early stages of growth, with products or services that are gaining acceptance in the market. Operating in the medical devices industry with a market capitalization of $1.1 billion, AngioDynamics (NASDAQ: ANGO) is established enough that its products are being accepted by medical professionals.

But on the other hand, its $1.1 billion market cap is significantly lower than the industry leader Medtronic, whose market cap is $163 billion.

This raises the following question: Is AngioDynamics a buy for growth investors after a strong start to its new fiscal year? Let's take a look at its operating results, balance sheet, and valuation to answer this question.

Source Fool.com