AngioDynamics Inc. (ANGO) is expected to post upbeat earnings during the first quarter as the medical device maker reins in on its expenses. However, net sales are anticipated to decline from last year.
The company’s bottom-line is expected to increase 50% to $0.18 per share for the first quarter, while the top-line will likely see a 1.7% dip to $84 million. Most analysts have recommended a “hold” rating on the stock with an average price target of $18.50.
The Peripheral Vascular and Vascular Access businesses are likely to experience continued softness during the first quarter. And the growth in the Oncology/Surgery business is not expected to overshadow the downtrend of other businesses.
In addition, the company will face a drop in the revenue from the US while the international market is likely to continue yielding growth. Meanwhile, investors are expecting AngioDynamics to report strong bottom-line results due to the management of costs and expenses.
For the recent fourth-quarter results, AngioDynamics swung to a profit from a loss last year, which included reserves for legal matters related to Department of Justice subpoenas. The Acculis recall was also attributed to the bottom line growth. Sales rose 1.6% on growth in the Angiographic Catheters, Fluid Management, and AngioVac product lines, as well as two of its Ablation Systems, Solero, and NanoKnife.
For the fiscal year 2019, the company had projected net sales in the range of $344 million to $349 million and adjusted EPS in the $0.82 to $0.86 range. Free cash flow was predicted to be between $38 million and $43 million, excluding about $12.5 million cash payment for legal matters.
Shares of AngioDynamics ended Wednesday’s regular session up 1.59% at $24.23 on the Nasdaq. The stock has risen over 35% for the past year and more than 45% for the year so far.
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to