Exploring AngioDynamics, Inc. (ANGO) Investor Profile: Who’s Buying and Why?

If you are looking at AngioDynamics, Inc. (ANGO) right now, you are defintely asking the right question: who is buying, and why is this small-cap medical technology stock attracting such heavy institutional conviction? The answer is simple: the smart money sees a pivot from a turnaround story to a growth engine, specifically in their Med Tech portfolio.

Institutions-the big players like BlackRock, Inc. and Vanguard Group Inc.-own a staggering 74% of the company, with some data suggesting that nearly 93% of the float is locked up in funds, and they are not just passively holding. They are betting on the momentum generated by products like the AlphaVac and NanoKnife, which drove Med Tech sales up 22.2% to $31.3 million in the third quarter of fiscal year 2025. This focus on high-margin devices helped AngioDynamics achieve a positive Adjusted EBITDA of $1.3 million in Q3 2025, a significant swing from a loss in the prior year, with full-year 2025 Adjusted EBITDA projected at $7.6 million on net sales of approximately $292.7 million.

So, do you follow the institutional flow into a stock trading around $12.31 with a consensus analyst rating of Strong Buy, or do you wait for the full-year GAAP net loss to narrow further? That is the core question this analysis will help you answer.

Who Invests in AngioDynamics, Inc. (ANGO) and Why?

If you are looking at AngioDynamics, Inc. (ANGO), you're essentially betting on a medical technology turnaround story, and you're in good company. The investor base is dominated by large institutions, but it's the underlying shift in the business-from Med Device to high-growth Med Tech-that is driving the real money. As of late 2025, institutions hold the lion's share, about 74% of the stock, while individual (retail) investors account for roughly 17%.

The key takeaway is that the institutional money is focused on the Med Tech segment's growth, which is why the stock price has seen a significant jump, rising over 70% from November 2024 to November 2025. You're seeing a clear vote of confidence from the big players.

Key Investor Types and Their Weight

The ownership structure is top-heavy, which means institutional trading decisions can move the stock quickly. BlackRock, Inc. is the single largest shareholder, holding approximately 11% of the shares outstanding. Other major institutional holders include Vanguard Group Inc. and Systematic Financial Management Lp. This suggests a strong presence of passive index funds and systematic quantitative strategies, which value the company's inclusion in major benchmarks.

A smaller, but very active, group is the hedge funds, which control about 5.5% of the shares. These are the investors often looking for a near-term catalyst. Plus, you have the insiders-executives and board members-who own around 6.00%. It's always a good sign when the people running the company are buying, like when the CEO and SVP each acquired 10,000 shares in October 2025.

• Institutional Investors: Hold 74%; prioritize benchmark inclusion and Med Tech growth.
• Retail Investors: Hold 17%; often follow high-growth narratives.
• Hedge Funds: Hold 5.5%; seek catalysts like NanoKnife reimbursement.

Investment Motivations: The Growth Story

The primary attraction for investors right now is the explosive growth in the Med Tech segment, which includes the Auryon atherectomy system and the NanoKnife irreversible electroporation (IRE) platform. Honestly, this segment is the future of the company. For the full fiscal year 2025, the Med Tech segment revenue hit $126.6 million, representing a robust 19% year-over-year growth.

Investors are mapping that growth to future profitability. The company is not profitable yet, reporting a GAAP net loss of $34 million (or $0.83 per diluted share) for FY2025, but the adjusted EBITDA turned positive at $7.6 million for the full year. That pivot to positive adjusted earnings is defintely a key milestone. The new CPT Category I Code for NanoKnife's IRE procedure for pancreatic lesions is a massive reimbursement win that expands the market opportunity, and that's what the smart money is tracking.

Typical Investment Strategies: Patience Pays

Since AngioDynamics, Inc. does not pay a dividend-the payout ratio is 0.00%-investors are clearly focused on capital appreciation, not income. This is a growth-at-a-reasonable-price (GARP) play, where investors are willing to tolerate current losses for massive future gains driven by their innovative product pipeline. You need to think long-term here.

For value-oriented investors, the strategy is to look past the negative forward P/E, which is a staggering -122.33, and focus on the analyst consensus. Analysts have a Moderate Buy rating with a price target range of $16.00 to $24.00, suggesting a potential upside of over 65% from the current price. They see the value in the technology, not the trailing financials. The growth in the Med Tech segment, especially the 44.7% increase in Mechanical Thrombectomy revenue in the fourth quarter of fiscal 2025, provides the concrete evidence for this long-term strategy. For a deeper dive into the strategic vision that underpins these products, you can check out the Mission Statement, Vision, & Core Values of AngioDynamics, Inc. (ANGO).

Here's the quick math on the Med Tech segment's dominance:

What this estimate hides is the strategic divestiture of lower-margin Med Device products, which makes the 16% drop in that segment a planned move to focus resources on the high-margin, high-growth Med Tech products. So, the institutional strategy is a clear bet on the success of the Med Tech pivot.

Institutional Ownership and Major Shareholders of AngioDynamics, Inc. (ANGO)

If you're looking at AngioDynamics, Inc. (ANGO), the direct takeaway is this: the stock is overwhelmingly controlled by large financial institutions, not retail investors. This means the company's valuation and strategic direction are largely dictated by the collective decisions of a few dozen major players. Institutional investors hold a staggering 98.86% of the total shares outstanding, representing approximately 40.7 million shares with a total value of about $493 million as of the third quarter of the 2025 fiscal year. That's a huge concentration of power.

Top Institutional Investors: Who Holds the Keys?

The investor profile for AngioDynamics, Inc. (ANGO) is dominated by a mix of passive index funds and active hedge funds, each with a different investment thesis. The presence of both types signals that some investors are simply tracking the Russell 2000 Index, while others are making a high-conviction bet on the company's specialized medical device portfolio, which includes products like the Auryon Atherectomy and NanoKnife. Here's the quick math on the top holders based on their 13F filings from Q3 2025:

It's defintely worth noting that while BlackRock, Inc. and Vanguard Group Inc. are massive passive players-they hold shares mainly through their index funds-the top two active managers, Divisadero Street Capital Management, LP and Point72 Asset Management, L.P., are the ones making the big, directional bets. Their conviction is a stronger signal than the index funds' presence.

Recent Shifts: Are Institutions Buying or Selling?

The institutional sentiment in the second half of 2025 has been net positive, which is a bullish sign for a small-cap med-tech stock. We saw 77 institutional holders increase their positions in Q3 2025, adding over 5.2 million shares, while 79 holders decreased theirs, selling about 2.5 million shares. That's a strong accumulation trend.

The most telling moves came from the active managers. Point72 Asset Management, L.P. nearly doubled its stake, increasing its share count by 31.295% in the quarter, and Millennium Management Llc bought an additional 393,682 shares, a jump of over 28.131%. These are not minor adjustments; they are significant capital allocations that signal confidence in AngioDynamics, Inc.'s growth trajectory, especially around their key product lines. The only caveat is that the largest passive holders, Vanguard Group Inc. and BlackRock, Inc., showed slight trimming of their positions, but that's often just a rebalancing act within their massive index funds.

• Active managers are driving the buying.
• Net institutional accumulation is a positive indicator.
• The high institutional ownership locks up the float.

The Impact of Institutional Ownership on Stock and Strategy

When institutions own nearly all of a company's stock, as they do with AngioDynamics, Inc., it creates a double-edged sword for individual investors. On one hand, it lends the company a high degree of credibility. These funds have done their due diligence on the company's full-year 2025 Net Sales of $292.7 million and positive Adjusted EBITDA of $7.6 million, and they like what they see. This institutional backing acts as a floor for the stock price.

But here's the risk: the stock price becomes highly vulnerable to their collective trading decisions. Because the institutional ownership is so high, any sudden shift in sentiment-say, if a few large hedge funds decide to liquidate their positions simultaneously-can cause the share price to drop fast. This is typical for small-cap stocks in the medical device space. The board of AngioDynamics, Inc. (ANGO) must also pay close attention to the preferences of these large shareholders, especially the active ones like Divisadero Street Capital Management, LP, who might push for strategic changes, like a spin-off of a key product line or a change in capital allocation strategy. For a deeper dive into the company's fundamentals, you should check out Breaking Down AngioDynamics, Inc. (ANGO) Financial Health: Key Insights for Investors.

Key Investors and Their Impact on AngioDynamics, Inc. (ANGO)

You're looking at AngioDynamics, Inc. (ANGO) and trying to figure out who the big players are and what their moves mean for your investment. The direct takeaway is this: institutional investors own the vast majority of the company, and their recent activity points to a split view, with some major funds aggressively buying into the company's transformation story, while insiders are showing strong confidence with significant purchases.

As of late 2025, institutional ownership-meaning big money managers, mutual funds, and pension funds-dominates the stock, holding around 72% of the shares outstanding. This level of concentration means that when a few large funds decide to buy or sell, the stock price is defintely going to feel it. It's a double-edged sword: stability from long-term holders, but vulnerability to a mass exodus.

The Institutional Heavyweights: Who Holds the Power?

The shareholder base for AngioDynamics, Inc. is anchored by some of the largest asset managers in the world. These funds are not activist investors (investors who push for major change), but rather passive or quantitative managers whose sheer size gives them immense influence. The top shareholders, based on their September 30, 2025, 13F filings, control a significant portion of the company.

The main players are predictable, but their recent moves are what matter:

• BlackRock, Inc.: One of the largest holders, but their Q3 2025 move saw a slight reduction of around -1.8% in their stake, holding approximately 3,531,355 shares.
• The Vanguard Group, Inc.: Another indexing giant, holding about 2,364,146 shares, also showing a slight trim of about -5.03% in the same period.
• Divisadero Street Capital Management, LP: A much smaller fund, but their action is loud-they increased their position by a massive 254% in Q3 2025, signaling a high-conviction bet on the company's future.

Here's the quick math on the top institutional stakes:

Insider Confidence and Strategic Alignment

While the mega-funds are mostly adjusting their index-based positions, the insider activity-the buying and selling by executives and directors-is a much clearer signal of management's view. And that signal is a strong buy. In the last year, insiders have bought more shares than they have sold, indicating confidence in the company's ongoing transformation, particularly the shift toward high-growth Med Tech products like the AlphaVac and NanoKnife systems.

For example, in October 2025 alone, there were multiple notable insider purchases. SVP and Chief Legal Officer Lawrence T. Weiss purchased 10,000 shares on October 21, 2025, for a total value of $118,100. CEO James Clemmer also bought 10,000 shares earlier in the month for about $111,500. This is management putting their own cash on the line.

Investor Influence and the Transformation Play

The influence of these investors is less about activism and more about supporting the current strategy. The company's focus on its Med Tech segment is paying off, with Med Tech net sales hitting $126.7 million in the full fiscal year 2025, a 19.5% increase from the prior year. Investors are rewarding this growth, not fighting it.

The shareholder vote on November 10, 2025, where shareholders elected directors and endorsed executive compensation, confirms this alignment. When you have a high institutional ownership base and no visible activist campaigns, it suggests the big money is comfortable with the current leadership and strategic direction. The company is generating momentum, reporting a GAAP net loss of $34.0 million for FY2025, a significant improvement from the prior year, and ending the year with $55.9 million in cash. That's a company executing its plan.

If you want to dig deeper into the company's performance metrics that are driving this investor interest, you can check out Breaking Down AngioDynamics, Inc. (ANGO) Financial Health: Key Insights for Investors.

The key risk here is that a large institutional seller could still trigger a sharp drop, but the recent insider buying suggests management believes the stock is undervalued relative to their growth prospects. This is a growth story, and the institutional money is largely positioned to ride that trend.

Market Impact and Investor Sentiment

The investor profile for AngioDynamics, Inc. (ANGO) is defintely dominated by institutional conviction, which currently signals a strong positive sentiment. As of late 2025, institutional ownership stands at a staggering 93.83% of the stock, with nearly all of the public float locked up in funds. This level of institutional commitment is rare for a company with a market capitalization around $498.93 million, indicating that major players see a clear growth runway, particularly within the MedTech segment.

You can see this confidence reflected in the top holders. For example, Divisadero Street Capital Management, L.P. held 3,678,125 shares as of September 30, 2025, and BlackRock, Inc. held 3,474,722 shares. That's a significant concentration of capital betting on the company's core platforms like NanoKnife and AlphaVac. When you have institutions like BlackRock holding a large stake, it often reduces short-term volatility, but it also means the stock price is highly sensitive to their collective trading decisions.

• Institutional ownership is 93.83%.
• BlackRock, Inc. held 3,474,722 shares.
• Top 13 shareholders control over 51% of the business.

Recent Market Reactions to Ownership Moves

The market has responded sharply to recent positive signals, both from the company's operational performance and key investor activity. When AngioDynamics reported its fourth-quarter fiscal 2025 results in July, the stock surged 8.83% in premarket trading. This wasn't just a minor beat; the company posted an earnings per share of -$0.03, significantly surpassing the forecasted -$0.12, and revenue hit $80.2 million, exceeding the $74.27 million expectation. That's a clear reaction to execution.

Also, insider buying provides a strong vote of confidence. In October 2025, CEO James Clemmer made a notable purchase, paying $11.15 per share to acquire $112k worth of stock, boosting his personal holding by 1.9%. Insider purchases, especially from the CEO, often signal management believes the stock is undervalued, and the market usually takes note. This kind of conviction is a powerful signal because management knows the business best. For more on the strategic direction driving this confidence, you can review the company's Mission Statement, Vision, & Core Values of AngioDynamics, Inc. (ANGO).

Analyst Perspectives and Future Impact

The analyst community is overwhelmingly bullish, which reinforces the positive institutional sentiment. The consensus rating for AngioDynamics is a 'Strong Buy' or 'Moderate Buy,' based on the most recent ratings in late 2025. The average analyst price target is approximately $19.33, with a high-end target reaching $24.00. This suggests a significant upside potential of over 60% from recent trading levels, which is a powerful incentive for new institutional money to enter.

The analysts' optimism is grounded in the company's fiscal year 2025 performance. Net Sales for FY 2025 reached $292.7 million, an 8.1% increase year-over-year, with the high-growth MedTech segment contributing $126.7 million, up 19.5%. This growth, coupled with a positive Adjusted EBITDA of $7.6 million for the year, gives a clear financial basis for the high price targets. The analysts are essentially saying: the institutional base is right to be heavily invested because the fundamentals-driven by high-margin MedTech products-are finally delivering tangible financial improvement.

Here's the quick math on the 2025 performance that drives this sentiment:

What this estimate hides is the potential for volatility; even with a 'Strong Buy' consensus, the stock can swing wildly around earnings, as seen with the 10.5% jump following the Q1 2026 report. Still, the heavy institutional backing acts as a floor, suggesting that major investors are focused on the long-term MedTech growth story, not just quarterly noise.