Needham & Company LLC Cuts Azenta (NASDAQ:AZTA) Price Target to $40.00

Azenta (NASDAQ:AZTA) had its price objective trimmed by Needham & Company LLC from $59.00 to $40.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. TD Cowen upgraded Azenta to a “hold” rating in a research report on Thursday, February 27th. Evercore ISI raised their price target on Azenta from $50.00 to $52.00 and gave the company an “in-line” rating in a report on Thursday, February 6th.

Azenta Stock Down 3.2 %

Shares of AZTA stock opened at $26.82 on Wednesday. Azenta has a 12 month low of $23.91 and a 12 month high of $63.58. The firm has a market cap of $1.23 billion, a PE ratio of -9.00 and a beta of 1.64. The stock has a 50 day moving average of $31.45 and a 200-day moving average of $42.02.

Azenta (NASDAQ:AZTA) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). Azenta had a negative net margin of 24.91% and a positive return on equity of 1.25%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. As a group, equities analysts predict that Azenta will post 0.53 EPS for the current fiscal year.

Institutional Trading of Azenta

A number of institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC increased its stake in Azenta by 788.1% in the 1st quarter. Farther Finance Advisors LLC now owns 968 shares of the company’s stock valued at $33,000 after buying an additional 859 shares during the last quarter. Picton Mahoney Asset Management increased its position in shares of Azenta by 305.7% in the fourth quarter. Picton Mahoney Asset Management now owns 706 shares of the company’s stock valued at $35,000 after acquiring an additional 532 shares during the last quarter. Headlands Technologies LLC bought a new stake in Azenta during the fourth quarter worth about $40,000. Covestor Ltd boosted its position in Azenta by 64.2% during the fourth quarter. Covestor Ltd now owns 2,043 shares of the company’s stock valued at $102,000 after purchasing an additional 799 shares during the last quarter. Finally, KBC Group NV raised its position in Azenta by 48.5% during the fourth quarter. KBC Group NV now owns 2,137 shares of the company’s stock worth $107,000 after acquiring an additional 698 shares in the last quarter. 99.08% of the stock is currently owned by institutional investors.

About Azenta

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.