Market Takeaway: Sharps Compliance (SMED), AngioDynamics (ANGO), Federal Home Loan Mortgage (FMCC)

Earnings estimates for Sharps Compliance Corp. (NASDAQ:SMED) have gone up in the past few weeks. That suggests that Sharps Compliance is moving in the right direction. However, investors are good to continue keeping a close eye on the stock. The company recently announced a $23.6 million contract with the U.S. Navy. The contract is for five years and involves the provision of solutions to reduce the negative impact of military training activities on the environment. Shares of SMED have are up more than 18% so far this year.

AngioDynamics, Inc. (NASDAQ:ANGO) announced a profit of $629,000 or $0.02 per share in its 1Q2015. That compared favorably with a net loss of $373,000 or $0.01 per share for the like quarter in the prior year. Revenue was up 4% to $87.3 million for the quarter. AngioDynamics is witnessing success from its turnaround efforts. Fiscal 2014 was a particularly inspiring year for the medical devices company.

It had a net income of $3.1 million or $0.09 per share in fiscal 2014, which was better than a net loss of $600,000 or $0.02 in fiscal 2013. Following the turnaround happening at ANGO, the company’s CEO, Joe DeVivo, received a total of $1.75 million in compensation in the most recent fiscal year. Shares of AngioDynamics, Inc. (NASDAQ:ANGO) have risen 15% in the past 30 days.

Federal Home Loan Mortgage Corp (OTCBB:FMCC) has announced a new lending program that is targeted at the borrowers in the small rental property segment. The government-sponsored mortgage institution said the new multifamily lending initiative will refinance borrowings in the range of $1-$5 million.

The move is expected to expand the inventory of the U.S. affordable rental housing. Market data suggests that smaller loans of the average of $1.2 million in size represent 29% of the multifamily borrowing market.

Meanwhile, activist investor, Bill Ackman, has increased his stake in FMCC (Freddie Mac) and Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) or Fannie Mae. Ackman’s Pershing Square had 10% interest in the mortgage institutions according to the earlier disclose. However, Ackman no longer reports stakes in FMCC and FNMA, which makes it hard to know his current holdings in the companies.

About the Author

Sally joined the US Markets Daily News Team in April 2011 as a Multimedia Journalist.

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