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Is AngioDynamics a Winner in the Medical Device Industry? By StockNews

by Mike Robinson

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© Reuters. AngioDynamics: A Winner in Medical Device Industry

The shares of the leading manufacturer of minimally-invasive medical devices AngioDynamics (NASDAQ) stocks have surged following solid quarterly revenue and investment in the Med Tech platform. But, with the uncertain outlook for growth and increased competition in medical devices, will the stock rally? Let’s find out.Industry-leading medical devices provider AngioDynamics, Inc. (ANGO) offers innovative diagnostic and surgical devices to treat cancer and peripheral vascular disease in the United States and internationally. Its shares have gained 17.5% in the last five days, and 79.5% this year, thanks to a strong revenue performance. This is due to a 68% increase in Med Tech net sales over the previous quarter. Investor attention has also been drawn to the limited release in market of AlphaVac’s mechanical thrombectomy machine.

While the minimally invasive medical devices provider’s Auryon and NanoKnife businesses continue to witness strong demand, finding more growth may be challenging for the company, given the COVID-19 related headwinds and increased competition in the medical devices market.

Here’s what could influence ANGO’s performance in the coming months:

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