The Hurricanes spotted the Islanders a 2-0 lead, then tied it with goals less than 1 minute apart from brothers Eric and Jordan Staal as the second period was winding down.
Sanguinetti then put Carolina ahead midway through the final frame on a wrist shot for his first goal of the season. Alexander Semin added an empty-netter to cap the rally.
Semin and Jordan Staal added assists while Cam Ward turned aside 23-of-25 shots as the Hurricanes broke a three-game skid.
Kevin Poulin made 24 saves for New York.
Pistorius testifies he didn't consciously pull trigger when he shot girlfriend
Pregnant Mila Kunis wins 'Best Villain' at MTV Movie Awards