Earlier today we welcomed Angiodynamics (Nasdaq: ANGO) to our portfolio, following the lead of BlackRock (NYSE: BLK), which has continued to accumulate shares in the company. The medical device maker has expanded from its humble beginnings in upstate New York into a global supplier with international presence in Europe and Asia.

The company designs, manufactures, and sells innovative devices used in the treatment of peripheral vascular diseases (occurring in blood vessels outside of the brain and heart) and products used for vascular access. It also makes products used in oncology and surgery. The company earned $0.34 a share in fiscal year 2017 (ended May 2017)—adjusted, $0.73—and is projected to earn $0.66 a share in the current fiscal year.

Angiodynamics breaks down its business into three segments. In its Peripheral Vascular segment, it makes products that treat vascular problems such as narrowing, blockage, and spasms. Its key products in this segment include VenaCure EVLT (endovenous laser treatment), used to treat superficial venous disease, which occurs when leg veins don’t return blood to the heart properly, leading to pain, swelling and skin abnormality.

In a minimally invasive manner, VenaCure EVLT uses laser energy to collapse the malfunctioning vein so that blood can be redirected to other healthy veins. More than one million VenaCure EVLT procedures—each usually lasting less than one hour—have been performed and patients typically resume normal activities shortly after the procedure. The product is sold as a system to physicians.

Other key products in the segment include AngioVac, a venous drainage system that removes thormbi (vascular clots) during extracorporeal bypass, and Asclear, an injection that treats relatively small spider veins and reticular veins.

The Vascular Access segment includes a broad offering of different types of catheters and related accessories and supplies. These products are used to deliver drug therapies, such as chemotherapy, into the central venous system. Key patents include BioFlo, the only catheter on the market with Endexo Technology, a material more resistant to the accumulation of thrombus, which keeps the fluids moving smoothly, increasing efficacy, safety, and reducing costs.

Angiodynamics also makes ports, which are implantable devices that provide an intravenous access point for patients who require frequent IV deliveries of treatment agents, and dialysis products, which also require catheters.

The third segment, Oncology/Surgery Products, consists of innovative ablation (surgical removal of tissues, such as in the removal of cancerous tissue) technologies. These include the patented NanoKnife System, which uses low-energy electrical pulses to precisely target and kill diseased cells in a way that allows the body’s natural processes to remove the dead cells. It’s even more minimally invasive than using thermal energy and there’s empirical evidence that the NanoKnife can extend survival in patients with certain normally inoperable cancers, such as advanced pancreatic cancer, that hasn’t yet metastasized.

The company currently has new NanoKnife hardware and software pending approval by the FDA and views this technology as one of the key future growth drivers.

The company also has thermal ablation products—itself minimally invasive—using microwave and radiofrequency, including a new system called Solero.

As the number of cancer cases are expected to grow worldwide as people live longer, there’s particular growth opportunity for the oncological products. Chronic conditions that require access to the vascular systems are also expected to significantly increase, reaching an estimated 171 million Americans by 2030, so there’s opportunity here as well.

In all, Angiodynamics had net sales of $349.6 million, adjusted earnings per share of $0.73, and free cash flows of $52.7 million in fiscal-year 2017 (ended in May). The earnings-per-share and free-cash-flow figures were record highs for the company. It also announced a voluntary recall of Acculus, one of its microwave ablation due to a probe problem. The overall negative impact on earnings was $4.5 million.

Looking ahead, the company projects fiscal 2018 revenue to fall in a range of $352 million to $359 million. At the midpoint, this represents a low 1.7 percent year-over-year growth. Angiodynamics’ earnings-per-share guidance comes in at $0.66 at the midpoint, which bakes in higher research & development expenses.

CEO Jim Clemmer, who joined the company in 2016, is implementing changes within the company including focusing on continued development of its core family of products such as BioFlo, VenaCure EVLT and NanoKnife, which he thinks will grow sales at roughly 11 percent a year and deliver gross margins of about 60 percent by 2020. He clearly believes his vision will cause growth to accelerate, as he purchased more than 45,000 net shares of ANGO for himself in July. While our Brain Trust Profits mission focuses more on what the best money managers buy with high conviction, when insiders buy shares it’s an indication of confidence in the company.

We suggest an initial buy-up-to price of $18. Again, this is not a target price. We reiterate that this is a short-term figure meant to inform our readers whether or not you should buy the stock at the current price. It’s a number we expect to continue to raise over time.