Trade Alert: ANGO
Buy AngioDynamics (Nasdaq: ANGO).
Today we add AngioDynamics to our portfolio, following the lead of BlackRock (NYSE: BLK), the largest global investment management corporation (by assets under management) in the world. Normally, when BlackRock owns a stock we aren’t overly impressed—after all, BlackRock literally holds thousands of stocks so an investment by BlackRock doesn’t necessarily mean it likes a stock strongly. However, in the case of ANGO, we have reason to take notice: BlackRock owns more than 12 percent of the small-cap company.
AngioDynamics specializes in products used in the treatment of peripheral vascular diseases (occurring in blood vessels outside of the brain and heart) and products used for vascular access. It also has products used in oncology and surgical settings. The company earned $0.38 a share in fiscal year 2017 (ended May 2017)—adjusted, $0.73—and is projected to earn $0.66 a share in the current fiscal year.
CEO James Clemmer has purchased more than 45,000 net shares in the last three months. Although insider activity isn’t the core of our Brain Trust Profits strategy, insider buying is a positive indicator that supports a stock’s case.
We will have more information on the company in the upcoming Weekly Issue.