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.
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Posted In: Analyst ColorDowngradesAnalyst RatingsangiodynamicsHealth CareHealth Care EquipmentWedbush
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