Needham & Company LLC Lowers Azenta (NASDAQ:AZTA) Price Target to $55.00

Azenta (NASDAQ:AZTA – Get Rating) had its price objective cut by equities research analysts at Needham & Company LLC from $68.00 to $55.00 in a research report issued on Wednesday, The Fly reports. Needham & Company LLC’s price objective would indicate a potential upside of 33.92% from the company’s previous close.

AZTA has been the topic of several other reports. B. Riley dropped their target price on shares of Azenta from $77.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, February 10th. Stephens downgraded shares of Azenta from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $65.00 to $60.00 in a report on Thursday, February 9th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.20.

Azenta Price Performance

Azenta stock opened at $41.07 on Wednesday. The company’s 50 day simple moving average is $42.82 and its 200 day simple moving average is $50.08. Azenta has a fifty-two week low of $36.01 and a fifty-two week high of $78.82. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 1.49 and a beta of 1.58.

Azenta (NASDAQ:AZTA – Get Rating) last announced its earnings results on Tuesday, May 9th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $148.40 million for the quarter, compared to analyst estimates of $161.90 million. Azenta had a return on equity of 1.17% and a net margin of 349.08%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $0.12 earnings per share. As a group, analysts predict that Azenta will post 0.28 EPS for the current fiscal year.

Institutional Trading of Azenta

A number of hedge funds and other institutional investors have recently made changes to their positions in AZTA. EverSource Wealth Advisors LLC increased its holdings in Azenta by 321.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 485 shares of the company’s stock worth $28,000 after buying an additional 370 shares during the last quarter. Standard Family Office LLC acquired a new position in Azenta during the third quarter worth $31,000. Wipfli Financial Advisors LLC acquired a new position in Azenta during the third quarter worth $32,000. Rockefeller Capital Management L.P. increased its holdings in Azenta by 165.3% during the third quarter. Rockefeller Capital Management L.P. now owns 756 shares of the company’s stock worth $32,000 after buying an additional 471 shares during the last quarter. Finally, CWM LLC increased its holdings in Azenta by 43.3% during the third quarter. CWM LLC now owns 1,012 shares of the company’s stock worth $43,000 after buying an additional 306 shares during the last quarter. 96.42% of the stock is currently owned by institutional investors and hedge funds.

Azenta Company Profile

(Get Rating)

Azenta, Inc is a provider of life sciences sample exploration and management solutions for the life sciences market. It operates through the Life Sciences Products and Life Sciences Services segments. The Life Sciences Products segment is involved in automated cold storage solutions for biological and chemical compound samples.