Azenta (NASDAQ:AZTA) Price Target Cut to $55.00 by Analysts at Needham & Company LLC

Azenta (NASDAQ:AZTA) had its price objective reduced by Needham & Company LLC from $69.00 to $55.00 in a research report report published on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Separately, Evercore ISI lowered their target price on shares of Azenta from $53.00 to $50.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.60.

Azenta Stock Down 1.1 %

Azenta stock traded down $0.51 during trading hours on Wednesday, hitting $44.00. The stock had a trading volume of 45,167 shares, compared to its average volume of 496,856. Azenta has a fifty-two week low of $40.24 and a fifty-two week high of $69.16. The company has a market cap of $2.15 billion, a PE ratio of -14.99 and a beta of 1.48. The company has a 50-day moving average of $45.78 and a two-hundred day moving average of $50.59.

Azenta (NASDAQ:AZTA) last issued its earnings results on Tuesday, November 12th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.11 by $0.07. The firm had revenue of $170.00 million during the quarter, compared to analysts’ expectations of $169.66 million. Azenta had a positive return on equity of 0.98% and a negative net margin of 25.01%. Azenta’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business earned $0.13 earnings per share. As a group, analysts forecast that Azenta will post 0.42 EPS for the current fiscal year.

Insider Transactions at Azenta

In related news, CFO Herman Cueto sold 1,595 shares of Azenta stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $43.68, for a total transaction of $69,669.60. Following the completion of the transaction, the chief financial officer now directly owns 24,604 shares of the company’s stock, valued at $1,074,702.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Azenta

A number of hedge funds and other institutional investors have recently bought and sold shares of AZTA. Envestnet Portfolio Solutions Inc. increased its position in Azenta by 1.7% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,488 shares of the company’s stock valued at $813,000 after acquiring an additional 229 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Azenta by 20.0% during the third quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company’s stock valued at $74,000 after purchasing an additional 256 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Azenta by 2.0% in the second quarter. Arizona State Retirement System now owns 14,050 shares of the company’s stock valued at $739,000 after purchasing an additional 269 shares in the last quarter. Green Alpha Advisors LLC raised its position in Azenta by 3.5% in the 3rd quarter. Green Alpha Advisors LLC now owns 10,203 shares of the company’s stock worth $494,000 after purchasing an additional 348 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in Azenta by 6.6% during the 3rd quarter. QRG Capital Management Inc. now owns 6,156 shares of the company’s stock worth $298,000 after buying an additional 383 shares in the last quarter. 99.08% of the stock is owned by institutional investors and hedge funds.

Azenta Company Profile

Azenta, Inc provides biological and chemical compound sample exploration and management solutions for the life sciences market in North America, Africa, China, the United Kingdom, rest of Europe, the Asia Pacific, and internationally. The company operates in two reportable segments, Life Sciences Products and Life Sciences Services.