Needham & Company LLC Cuts Azenta (NASDAQ:AZTA) Price Target to $75.00

Azenta (NASDAQ:AZTAGet Free Report) had its target price cut by stock analysts at Needham & Company LLC from $76.00 to $75.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 15.15% from the company’s current price.

AZTA has been the subject of several other research reports. B. Riley raised their target price on shares of Azenta from $61.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Stephens reiterated an “equal weight” rating and set a $55.00 price objective on shares of Azenta in a research note on Tuesday, November 14th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.67.

Check Out Our Latest Analysis on AZTA

Azenta Stock Performance

Azenta stock opened at $65.13 on Thursday. The business’s 50-day simple moving average is $63.92 and its two-hundred day simple moving average is $55.79. The company has a market cap of $3.63 billion, a PE ratio of -210.09 and a beta of 1.56. Azenta has a fifty-two week low of $36.01 and a fifty-two week high of $69.16.

Azenta (NASDAQ:AZTAGet Free Report) last released its earnings results on Monday, November 13th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.12. Azenta had a positive return on equity of 0.48% and a negative net margin of 2.92%. The firm had revenue of $165.95 million during the quarter, compared to the consensus estimate of $163.91 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue was up 25.0% compared to the same quarter last year. As a group, analysts predict that Azenta will post 0.39 EPS for the current fiscal year.

Institutional Trading of Azenta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Azenta by 1.8% in the third quarter. Vanguard Group Inc. now owns 7,070,612 shares of the company’s stock worth $303,047,000 after acquiring an additional 127,923 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Azenta by 0.8% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,531,739 shares of the company’s stock worth $227,448,000 after purchasing an additional 38,116 shares during the period. JPMorgan Chase & Co. boosted its position in Azenta by 115.1% during the first quarter. JPMorgan Chase & Co. now owns 3,018,907 shares of the company’s stock worth $134,703,000 after purchasing an additional 1,615,328 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Azenta by 31.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,231,792 shares of the company’s stock valued at $145,382,000 after purchasing an additional 530,408 shares during the period. Finally, Macquarie Group Ltd. purchased a new stake in shares of Azenta in the second quarter valued at approximately $160,068,000. Institutional investors and hedge funds own 99.08% of the company’s stock.

Azenta Company Profile

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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.

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