In a recent transaction, James C. Clemmer, President and CEO of AngioDynamics Inc (NASDAQ:ANGO), bolstered his stake in the company by purchasing shares valued at $67,000. The transaction took place on April 8th, as per the latest filings with the Securities and Exchange Commission.
The CEO acquired 10,000 shares of AngioDynamics common stock at a weighted average price of $6.7. It's noted that the shares were bought in multiple transactions with prices ranging between $6.64 and $6.76. Following this purchase, Clemmer's total ownership in the medical device company has reached 539,066 shares.
Investors often keep an eye on insider transactions as they can provide insights into the executives' confidence in the company's future performance. The acquisition by Clemmer might be interpreted as a positive signal about the company's prospects.
AngioDynamics, headquartered in Latham, New York, specializes in the design and manufacture of medical devices used by healthcare professionals primarily for vascular access and peripheral vascular disease.
The company has not made any official comments regarding the transaction, and it remains to be seen what impact, if any, this insider activity will have on the stock's performance or investor sentiment.
InvestingPro Insights
Following the recent insider share purchase by AngioDynamics Inc's (NASDAQ:ANGO) CEO, investors might be curious about the company's financial health and market performance. According to InvestingPro data, AngioDynamics currently holds a market capitalization of $263.44 million. Despite the insider confidence, the company's P/E ratio stands at -1.36, reflecting its current lack of profitability over the last twelve months as of Q3 2024.
On the upside, one of the InvestingPro Tips suggests that AngioDynamics holds more cash than debt on its balance sheet, which could be indicative of financial stability. Additionally, the company has a high shareholder yield, which might be appealing to investors seeking companies with a potential for returning value.
However, it's important to note that AngioDynamics has seen a revenue decline of 3.19% over the last twelve months as of Q3 2024. This is corroborated by another InvestingPro Tip which indicates that analysts anticipate a sales decline in the current year. Moreover, the company's stock has experienced significant returns over the last week and month, with price total returns of 20.58% and 23.99%, respectively.
For those interested in a deeper analysis, there are additional InvestingPro Tips available, including insights on earnings revisions and the stock's technical indicators. Investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable insights.
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