AngioDynamics rated outperform by RBC

RBC Capital Markets analyst Phil Nalbone rated AngioDynamics Inc. at outperform, speculative risk, and $30 price target. The company will enter the tumor ablation market with the $25 million acquisition of privately held Oncobionic and its platform technology called irreversible electroporation (IRE) for destroying targeted soft tissue non-thermally. The acquisition is going to be neutral to earnings until the Oncobionic products begin contributing to the revenue stream around mid-2008, according to the analyst. Shares of the Queensbury, N.Y.-based medical device company were down 54 cents, or 2.27%, at $23.25. (Nasdaq: ANGO)

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