AngioDynamics, Inc. (NASDAQ:ANGO) was in 11 hedge funds’ portfolio at the end of the first quarter of 2013. ANGO investors should pay attention to a decrease in enthusiasm from smart money of late. There were 12 hedge funds in our database with ANGO holdings at the end of the previous quarter.
In the eyes of most stock holders, hedge funds are seen as unimportant, old financial vehicles of the past. While there are more than 8000 funds trading at present, we look at the upper echelon of this club, about 450 funds. Most estimates calculate that this group has its hands on the majority of the hedge fund industry’s total capital, and by watching their top picks, we have uncovered a few investment strategies that have historically beaten the market. Our small-cap hedge fund strategy outstripped the S&P 500 index by 18 percentage points annually for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have outclassed the S&P 500 index by 23.3 percentage points in 8 months (check out a sample of our picks).
With these “truths” under our belt, we’re going to take a gander at the latest action surrounding AngioDynamics, Inc. (NASDAQ:ANGO).
Hedge fund activity in AngioDynamics, Inc. (NASDAQ:ANGO)
In preparation for this quarter, a total of 11 of the hedge funds we track were long in this stock, a change of -8% from one quarter earlier. With hedgies’ capital changing hands, there exists a select group of notable hedge fund managers who were increasing their stakes considerably.
When looking at the hedgies we track, Kevin Kotler’s Broadfin Capital had the largest position in AngioDynamics, Inc. (NASDAQ:ANGO), worth close to $27.8 million, accounting for 6.1% of its total 13F portfolio. The second largest stake is held by James E. Flynn of Deerfield Management, with a $27.1 million position; the fund has 1.6% of its 13F portfolio invested in the stock. Remaining hedgies that are bullish include Stephen DuBois’s Camber Capital Management, Chuck Royce’s Royce & Associates and Douglas T. Granat’s Trigran Investments.
Because AngioDynamics, Inc. (NASDAQ:ANGO) has faced falling interest from the smart money, it’s safe to say that there exists a select few hedge funds who were dropping their full holdings heading into Q2. At the top of the heap, SAC Subsidiary’s CR Intrinsic Investors cut the biggest position of all the hedgies we monitor, totaling about $2.8 million in stock.. Steven Cohen’s fund, SAC Capital Advisors, also dropped its stock, about $0 million worth. These transactions are important to note, as total hedge fund interest was cut by 1 funds heading into Q2.
Insider trading activity in AngioDynamics, Inc. (NASDAQ:ANGO)
Insider buying is particularly usable when the company in focus has experienced transactions within the past six months. Over the latest six-month time period, AngioDynamics, Inc. (NASDAQ:ANGO) has experienced 3 unique insiders buying, and 1 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to AngioDynamics, Inc. (NASDAQ:ANGO). These stocks are Vascular Solutions, Inc. (NASDAQ:VASC), OraSure Technologies, Inc. (NASDAQ:OSUR), Merit Medical Systems, Inc. (NASDAQ:MMSI), and Antares Pharma Inc (NASDAQ:ATRS). This group of stocks are in the medical instruments & supplies industry and their market caps resemble ANGO’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Vascular Solutions, Inc. (NASDAQ:VASC) | 7 | 1 | 7 |
| OraSure Technologies, Inc. (NASDAQ:OSUR) | 16 | 0 | 1 |
| Merit Medical Systems, Inc. (NASDAQ:MMSI) | 11 | 0 | 0 |
| Antares Pharma Inc (NASDAQ:ATRS) | 9 | 0 | 4 |
With the results shown by Insider Monkey’s time-tested strategies, everyday investors should always monitor hedge fund and insider trading activity, and AngioDynamics, Inc. (NASDAQ:ANGO) is an important part of this process.
