When AngioDynamics (ANGO)
reported last night, it brought a challenging fiscal year to close for
this small med-tech company. A combination of weak job growth, higher
co-pays/deductibles and uncertainties ahead of the full implementation
of the Affordable Care Act have impacted procedure counts, while the
company tried to digest a sizable acquisition and restructure its sales
approach. All told, the company's performance has looked pretty soft,
with rivals likely gaining share in many markets.
Going over the
numbers and listening to management's call, though, suggests that the
business may have already started to turn the corner. This is still a
"show me" story in that regard, and management needs to show that it can
regain momentum in the face of larger rivals like Covidien (COV), Edwards (EW) and Bard (BCR).
Investors have already started coming back around to this story, as the
shares are up almost 30% from their late April lows, and I'm not sure
the company can grow fast enough to make today's price a bargain.
Please follow this link for more:
AngioDynamics Stronger Than It Looks, But Not So Cheap
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