RBC maintains AngioDynamics at outperform

RBC Capital Markets analyst Phil Nalbone kept AngioDynamics Inc. at outperform, speculative risk, based on the typical summer slowdown and the extra week in the most recent quarter. As a result, RBC lowered its August sales projections a bit. News that the fiscal first quarter will be loaded with more expenses than anticipated led to the forecast adjustment. For the first quarter of fiscal 2007, RBC lowered its revenue estimate by $1.3 million to $20.2 million and its earnings-per-share estimate by $0.05, or $0.10 on a pro-forma basis and $0.08 on a GAAP basis. Shares of the Queensbury, N.Y.-based medical device company were up 24 cents, or 1.42%, at $17.16, on volume of 129,957 shares versus the three-month running average of 182,185 shares. (Nasdaq: ANGO)

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