Azenta, Inc. (NASDAQ:AZTA – Get Free Report)’s stock price traded down 4% during mid-day trading on Thursday after Needham & Company LLC lowered their price target on the stock from $76.00 to $75.00. Needham & Company LLC currently has a buy rating on the stock. Azenta traded as low as $62.29 and last traded at $62.45. 46,431 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 350,314 shares. The stock had previously closed at $65.05.
A number of other brokerages have also recently commented on AZTA. B. Riley lifted their price target on Azenta from $61.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Stephens restated an “equal weight” rating and issued a $55.00 price target on shares of Azenta in a research note on Tuesday, November 14th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Azenta currently has an average rating of “Moderate Buy” and an average target price of $69.67.
Institutional Investors Weigh In On Azenta
Several large investors have recently bought and sold shares of the company. FMR LLC purchased a new stake in shares of Azenta in the second quarter valued at approximately $172,000. Credit Suisse AG acquired a new position in Azenta during the second quarter worth $4,451,000. LPL Financial LLC purchased a new stake in shares of Azenta during the second quarter worth $3,697,000. Millennium Management LLC purchased a new stake in shares of Azenta during the second quarter worth $6,091,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Azenta during the second quarter worth $736,000. 99.08% of the stock is currently owned by hedge funds and other institutional investors.
Azenta Stock Down 4.7 %
The business has a 50-day moving average price of $63.62 and a two-hundred day moving average price of $55.60. The firm has a market cap of $3.45 billion, a PE ratio of -361.37 and a beta of 1.56.
Azenta (NASDAQ:AZTA – Get Free Report) last posted its quarterly earnings data on Monday, November 13th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.12. The business had revenue of $165.95 million for the quarter, compared to analyst estimates of $163.91 million. Azenta had a positive return on equity of 0.75% and a negative net margin of 2.14%. The company’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share. On average, equities research analysts predict that Azenta, Inc. will post 0.39 earnings per share for the current fiscal year.
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.