AngioDynamics, Inc. (ANGO) Stock Analysis

AngioDynamics markets a portfolio of named, FDA-cleared devices across two segments: Med Tech, anchored by the Auryon atherectomy system and the AlphaVac/AngioVac thrombectomy line, and Med Device, its peripheral vascular catheter and access-device business. The NanoKnife IRE ablation system received expanded FDA 510(k) clearance for prostate tissue ablation in December 2024. International distributors accounted for approximately 74% of the company's international revenues in fiscal 2025.

AngioDynamics earns revenue from direct device sales in the United States and a mix of direct sales and third-party distributors internationally, marketing to interventional radiologists, cardiologists, vascular surgeons, urologists, and critical care nurses. The company manufactures many of its own products at two leased Queensbury, NY facilities, supplemented by third-party manufacturers including a Biomerics supply agreement in Costa Rica, and has announced a plan to shift additional production to Costa Rica, Latvia, Italy, Israel, and China as part of a restructuring expected to complete in the third quarter of fiscal 2026. The company describes itself as dependent on single and limited source suppliers for several key products, raw materials, and components, a risk it says previously disrupted manufacturing during fiscal 2022 and 2023. Reimbursement from Medicare, Medicaid, and private payors, together with group purchasing organization contracting, shapes the pricing environment for its disposable and capital-equipment product lines.