Why Angiodynamics Stock Sank Today

A fairly uninspiring set of quarterly results pushed (NASDAQ: ANGO) stock down in value on Wednesday. The medical device and technology company saw its share price dip by almost 3% on the day, contrasting with the 0.8% gain of the S 500 index.

For its first quarter of fiscal 2024, AngioDynamics booked net sales of $78.7 million. The two revenue streams that make up that figure, medical technology and medical devices, both saw increases. Technology posted the largest leap, with its take rising by over 13% year over year to $25.9 million. Devices advanced by slightly more than 2% to $52.8 million.

As for profitability, AngioDynamics posted a non-GAAP (adjusted) net loss of $4.8 million ($0.12 per share), nearly double the $2.5 million deficit in the same quarter of fiscal 2023. 

Continue reading

Source Fool.com