Azenta (NASDAQ:AZTA) PT Lowered to $50.00 at Evercore ISI

Azenta (NASDAQ:AZTA) had its target price decreased by research analysts at Evercore ISI from $53.00 to $50.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s target price would suggest a potential upside of 4.78% from the stock’s previous close.

Separately, Needham & Company LLC restated a “buy” rating and issued a $69.00 price target on shares of Azenta in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $66.40.

Azenta Trading Up 0.5 %

AZTA stock opened at $47.72 on Tuesday. Azenta has a 1-year low of $44.00 and a 1-year high of $69.16. The business’s 50 day simple moving average is $51.37 and its 200 day simple moving average is $53.11. The firm has a market capitalization of $2.57 billion, a PE ratio of -17.61 and a beta of 1.47.

Azenta (NASDAQ:AZTA) last posted its earnings results on Tuesday, August 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. Azenta had a negative net margin of 23.66% and a positive return on equity of 0.89%. The company had revenue of $173.00 million during the quarter, compared to analysts’ expectations of $166.14 million. During the same quarter last year, the company posted $0.13 EPS. Azenta’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that Azenta will post 0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Azenta

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Redwood Investment Management LLC bought a new position in Azenta in the 1st quarter valued at approximately $1,497,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Azenta during the 1st quarter valued at $615,000. Lighthouse Investment Partners LLC bought a new stake in Azenta during the 4th quarter worth $1,973,000. Edgestream Partners L.P. increased its holdings in Azenta by 618.2% in the 1st quarter. Edgestream Partners L.P. now owns 58,644 shares of the company’s stock worth $3,535,000 after purchasing an additional 50,479 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new position in Azenta in the first quarter valued at about $1,401,000. 99.08% of the stock is 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.