A month has gone by since the last earnings report for AngioDynamics (ANGO Quick QuoteANGO - Free Report) . Shares have added about 4.3% in that time frame, underperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is AngioDynamics due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.

AngioDynamics Q3 Earnings and Revenues Top Estimates

AngioDynamics, Inc. reported third-quarter fiscal 2021 adjusted earnings per share of 2 cents. The Zacks Consensus Estimate was of a loss of 3 cents per share. Meanwhile, the company saw a 100% surge in its bottom line from the year-ago quarter.

Revenue Details

For the fiscal third quarter, revenues totaled $71.2 million, which beat the Zacks Consensus Estimate by 4.1%. Further, the top line rose 2% on a year-over-year basis.

Geographical Analysis

In the quarter under review, U.S. net revenues totaled $58.7 million, up 6.9% year over year.

International revenues came in at $12.5 million, down 16.1% from the year-ago quarter.

Segmental Analysis

Vascular Interventions and Therapies (VIT) Business

VIT revenues in the fiscal third quarter grossed $33.3 million, up 8.8% from the year-ago period. This was driven byhigher sales of the company's Auryon and AngioVac platforms, which were partially offset by soft sales of Venous products amid weak elective procedure volumes due to the COVID-19 pandemic.

Vascular Access (VA) Business

Revenues at this segment amounted to $24.8 million, up 0.8% on a year-over-year basis.

Oncology/Surgery Business

Revenues dipped 10.1% year over year to $13.1 million. Per management, this downside was due to lower capital sales, partially offset by robust growth in the sales of NanoKnife disposables, especially in the United States.

Margin Analysis

In the quarter under review, gross profit totaled $38.5 million, down 4.4% from the year-ago quarter. Moreover, gross margin was 54.1%, down 362 basis points (bps).

Adjusted operating profit came in at $1.3 million, up 75.6% year over year. Adjusted operating margin expanded 79 bps to 1.9%.

2021 Guidance

The company updated its fiscal 2021 outlook.

Revenues are now projected in the range of $285-$288 million (compared with the previously-issued guidance of $278-$284 million). The Zacks Consensus Estimate for the same is pegged at $283.2 million.

Adjusted EPS is now pegged between 4 cents and 6 cents (compared with the past view of breakeven and 5 cents). The Zacks Consensus Estimate for the metric is pegged at 2 cents.

Cash Position

The company exited the fiscal third quarter with cash and cash equivalents of $54.5 million compared with $58 million at the end of the second quarter of fiscal 2021. Cumulative net cash provided by operating activities came in at $11.9 million compared with net cash used in the same of $18.4 million a year ago.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed a downward trend in fresh estimates. The consensus estimate has shifted -100% due to these changes.

VGM Scores

At this time, AngioDynamics has an average Growth Score of C, however its Momentum Score is doing a bit better with a B. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. Notably, AngioDynamics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.