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

Azenta (NASDAQ:AZTA) had its target price reduced by investment analysts at Needham & Company LLC from $69.00 to $55.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 19.59% from the company’s previous close.

Separately, Evercore ISI cut their price objective 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $63.60.

Azenta Trading Up 0.3 %

NASDAQ AZTA opened at $45.99 on Wednesday. The company has a 50-day moving average price of $45.83 and a two-hundred day moving average price of $50.64. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -16.37 and a beta of 1.48. Azenta has a 52 week low of $40.24 and a 52 week high of $69.16.

Azenta (NASDAQ:AZTA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. The business had revenue of $170.00 million during the quarter, compared to analyst estimates of $169.66 million. Azenta had a positive return on equity of 0.89% and a negative net margin of 23.66%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS. As a group, equities research analysts expect that Azenta will post 0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Azenta

In other news, CFO Herman Cueto sold 1,595 shares of Azenta stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $43.68, for a total transaction of $69,669.60. Following the transaction, the chief financial officer now directly owns 24,604 shares in the company, valued at approximately $1,074,702.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Azenta

Several large investors have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Azenta by 1.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,298,040 shares of the company’s stock worth $278,783,000 after purchasing an additional 100,826 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Azenta by 16.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,970,964 shares of the company’s stock worth $156,331,000 after buying an additional 421,719 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Azenta by 16.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,298,856 shares of the company’s stock valued at $62,917,000 after buying an additional 183,040 shares in the last quarter. Royce & Associates LP lifted its position in shares of Azenta by 7.8% during the 3rd quarter. Royce & Associates LP now owns 739,977 shares of the company’s stock valued at $35,844,000 after acquiring an additional 53,584 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Azenta by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 515,393 shares of the company’s stock worth $27,120,000 after acquiring an additional 18,680 shares in the last quarter. Institutional investors own 99.08% of the company’s stock.

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.