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AngioDynamics Stock Falls Despite CE Mark for Auryon System
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AngioDynamics, Inc. (ANGO - Free Report) has announced that its Auryon Atherectomy System has received the CE Mark. This innovative system, designed for the treatment of Peripheral Artery Disease (PAD), including Critical Limb Ischemia (CLI) and In-Stent Restenosis (ISR), utilizes state-of-the-art solid-state laser technology. It stands out as the first laser atherectomy system capable of treating lesions of any type, length, or location with minimal vessel wall impact.
AngioDynamics is a pioneering medical technology company dedicated to improving patient outcomes by restoring healthy blood flow, expanding cancer treatment options and enhancing quality of life. Its innovative devices are widely adopted by physicians in rapidly growing healthcare markets to address unmet patient needs.
Shares of ANGO were 1.9% down in pre-market trading following the news.
Significance of AngioDynamics Auryon System
The CE Mark for the Auryon Atherectomy System marks a pivotal development for AngioDynamics, allowing it to enter the European market and extend its reach in the $1.1 billion global PAD sector. This advanced system, which has already treated over 50,000 patients in the United States since its FDA 510(k) clearance in 2020, is noted for its effectiveness in managing lesions from soft plaque to severely calcified deposits. Clinical studies, including those from the PATHFINDER registry, validate its ability to reduce residual stenosis to ≤30% in the majority of patients post-treatment, without any cases of target lesion revascularization, and improve patient outcomes without significant complications.
More on AngioDynamics Auryon System
The Auryon Atherectomy System employs a 355nm wavelength laser for precise treatment of PAD, utilizing short UV pulses to minimize vessel perforation and avoid thermal ablation. It includes features for aspiration and offset in specific catheter sizes, addressing embolization risks and enabling non-surgical treatment of various PAD lesions, including ISR and CLI.
The PATHFINDER registry confirms the Auryon Atherectomy System's efficacy, showing no flow-limiting dissections and significant improvements in ABI, Rutherford classification and Walking Impairment Questionnaires at 6 and 12 months. These findings underscore the system's safety and effectiveness for complex PAD cases.
Market Prospects Favoring ANGO
Per a report in Allied Market Research, the global peripheral artery disease market was worth $4.5 billion in 2023. It is anticipated to reach $10.8 billion by 2035, at a CAGR of 3.58%.
The robust growth is likely to be driven by a rise in the geriatric population and the adoption of technological advancements in minimally invasive surgical technology.
ANGO Stock Price Performance
Shares of AngioDynamics have declined 6.7% year to date against the industry’s 10% growth. The S&P 500 has witnessed an 18.4% rise in the same time frame.
Image Source: Zacks Investment Research
Favorable Earnings Surprise Trend
AngioDynamics’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 28.61%.
Zacks Rank & Other Key Picks
Currently, AngioDynamics carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader medical space are Universal Health Services (UHS - Free Report) , Quest Diagnostics (DGX - Free Report) and ABM Industries (ABM - Free Report) . While Universal Health Services sports a Zacks Rank #1 (Strong Buy), Quest Diagnostics and ABM Industries carry a Zacks Rank #2 each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Universal Health Services has an estimated long-term growth rate of 19%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 14.58%.
Universal Health Services has gained 41.1% compared with the industry's 34.8% growth year to date.
Quest Diagnostics has an estimated long-term growth rate of 6.20%. DGX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.31%.
Quest Diagnostics shares have risen 3.7% year to date compared with the industry’s 10.2% growth.
ABM Industries’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 7.34%.
ABM's shares have risen 24.1% year to date compared with the industry’s 11.9% growth.
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AngioDynamics Stock Falls Despite CE Mark for Auryon System
AngioDynamics, Inc. (ANGO - Free Report) has announced that its Auryon Atherectomy System has received the CE Mark. This innovative system, designed for the treatment of Peripheral Artery Disease (PAD), including Critical Limb Ischemia (CLI) and In-Stent Restenosis (ISR), utilizes state-of-the-art solid-state laser technology. It stands out as the first laser atherectomy system capable of treating lesions of any type, length, or location with minimal vessel wall impact.
AngioDynamics is a pioneering medical technology company dedicated to improving patient outcomes by restoring healthy blood flow, expanding cancer treatment options and enhancing quality of life. Its innovative devices are widely adopted by physicians in rapidly growing healthcare markets to address unmet patient needs.
Shares of ANGO were 1.9% down in pre-market trading following the news.
Significance of AngioDynamics Auryon System
The CE Mark for the Auryon Atherectomy System marks a pivotal development for AngioDynamics, allowing it to enter the European market and extend its reach in the $1.1 billion global PAD sector. This advanced system, which has already treated over 50,000 patients in the United States since its FDA 510(k) clearance in 2020, is noted for its effectiveness in managing lesions from soft plaque to severely calcified deposits. Clinical studies, including those from the PATHFINDER registry, validate its ability to reduce residual stenosis to ≤30% in the majority of patients post-treatment, without any cases of target lesion revascularization, and improve patient outcomes without significant complications.
More on AngioDynamics Auryon System
The Auryon Atherectomy System employs a 355nm wavelength laser for precise treatment of PAD, utilizing short UV pulses to minimize vessel perforation and avoid thermal ablation. It includes features for aspiration and offset in specific catheter sizes, addressing embolization risks and enabling non-surgical treatment of various PAD lesions, including ISR and CLI.
The PATHFINDER registry confirms the Auryon Atherectomy System's efficacy, showing no flow-limiting dissections and significant improvements in ABI, Rutherford classification and Walking Impairment Questionnaires at 6 and 12 months. These findings underscore the system's safety and effectiveness for complex PAD cases.
Market Prospects Favoring ANGO
Per a report in Allied Market Research, the global peripheral artery disease market was worth $4.5 billion in 2023. It is anticipated to reach $10.8 billion by 2035, at a CAGR of 3.58%.
The robust growth is likely to be driven by a rise in the geriatric population and the adoption of technological advancements in minimally invasive surgical technology.
ANGO Stock Price Performance
Shares of AngioDynamics have declined 6.7% year to date against the industry’s 10% growth. The S&P 500 has witnessed an 18.4% rise in the same time frame.
Image Source: Zacks Investment Research
Favorable Earnings Surprise Trend
AngioDynamics’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 28.61%.
Zacks Rank & Other Key Picks
Currently, AngioDynamics carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader medical space are Universal Health Services (UHS - Free Report) , Quest Diagnostics (DGX - Free Report) and ABM Industries (ABM - Free Report) . While Universal Health Services sports a Zacks Rank #1 (Strong Buy), Quest Diagnostics and ABM Industries carry a Zacks Rank #2 each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Universal Health Services has an estimated long-term growth rate of 19%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 14.58%.
Universal Health Services has gained 41.1% compared with the industry's 34.8% growth year to date.
Quest Diagnostics has an estimated long-term growth rate of 6.20%. DGX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.31%.
Quest Diagnostics shares have risen 3.7% year to date compared with the industry’s 10.2% growth.
ABM Industries’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 7.34%.
ABM's shares have risen 24.1% year to date compared with the industry’s 11.9% growth.