The current CEO of AngioDynamics (ANGO)
has referred to his restructuring plan at times as “fixing the plane
while its flying”, and that’s not a bad description. Years of
questionable management choices and changes in direction left
AngioDynamics with a dated, not particularly competitive, line-up of
products that have long consigned the company to weak growth and feeble
margins, but management’s restructuring plans look sensible and
achievable.
Investing in AngioDynamics means taking
some measure of a leap of faith that those restructuring efforts will
lead to actual organic revenue growth – something the company has lacked
for the better part of a decade – and improved margin leverage. The
valuation would seem to suggest that the market is still skeptical that
AngioDynamics can ever achieve meaningful growth, leaving some upside
for intrepid investors if management can in fact deliver.
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AngioDynamics Slowly Building Confidence In Its Turnaround
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