Why AngioDynamics Stock Is Sinking Today

Shares of AngioDynamics (NASDAQ: ANGO) were sinking 13.1% as of 11:02 a.m. ET. The sell-off came after the medical technology company announced its third-quarter results before the market open.Those results were actually quite good. AngioDynamics reported Q3 revenue of $79.4 million, up 8.8% year-over-year on a pro forma basis and higher than the consensus Wall Street estimate of $76.4 million. The company posted an adjusted loss of $59,000, which amounted to roughly $0.00 per share. Analysts expected an adjusted net loss of $0.10 per share. So why did this medical device stock sell off so heavily? Probably because AngioDynamics announced the unexpected retirement of CEO Jim Clemmer.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool