ANGO - Why Angiodynamics Stock Sank Today
2023-10-04 18:15:00 ET
A fairly uninspiring set of quarterly results pushed AngioDynamics (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&P 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.
For further details see:
Why Angiodynamics Stock Sank Today