UPDATE: Wedbush Downgrades AngioDynamics to Underperform

Wedbush is out with its report today on AngioDynamics ANGO, downgrading ANGO to Underperform. In a note to clients, Wedbush writes, "It is a very tough operating environment, and the outlook for ANGO's performance has recently gotten a lot cloudier. With a management transition now underway, accelerated deterioration of the core business, the likelihood of a negative top-line comparison next year due to the loss of the LC Bead distribution agreement, and a lack of visibility on the timing of NanoKnife clinical milestones, we think ANGO will be 'dead money' for at least the next year." Wedbush lowers its PT on ANGO from $14 to $12. At the time of posting, shares of ANGO were trading pre-market at $13.00, down 10.78% from Monday's close.