Azenta (NASDAQ:AZTA) Stock Rating Reaffirmed by Needham & Company LLC

Azenta (NASDAQ:AZTA)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They presently have a $75.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 26.20% from the company’s previous close.

A number of other research firms also recently weighed in on AZTA. B. Riley lifted their price target on shares of Azenta from $61.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Stephens reaffirmed an “equal weight” rating and issued a $70.00 price objective on shares of Azenta in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.67.

Azenta Trading Up 1.8 %

AZTA stock opened at $59.43 on Thursday. The business’s 50 day simple moving average is $64.06 and its 200 day simple moving average is $58.23. Azenta has a 1-year low of $36.01 and a 1-year high of $69.16. The firm has a market capitalization of $3.31 billion, a PE ratio of -191.70 and a beta of 1.54.

Azenta (NASDAQ:AZTA) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $154.32 million during the quarter, compared to the consensus estimate of $151.86 million. Azenta had a negative net margin of 2.92% and a positive return on equity of 0.49%. As a group, sell-side analysts predict that Azenta will post 0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Azenta

A number of hedge funds have recently made changes to their positions in AZTA. Citigroup Inc. grew its stake in shares of Azenta by 558.8% during the third quarter. Citigroup Inc. now owns 88,078 shares of the company’s stock worth $4,421,000 after buying an additional 74,708 shares during the last quarter. Millrace Asset Group Inc. acquired a new stake in shares of Azenta during the 3rd quarter valued at $1,074,000. Trexquant Investment LP acquired a new stake in shares of Azenta during the third quarter valued at about $860,000. Invesco Ltd. lifted its holdings in shares of Azenta by 35.4% during the third quarter. Invesco Ltd. now owns 331,012 shares of the company’s stock worth $16,613,000 after purchasing an additional 86,477 shares during the period. Finally, Aigen Investment Management LP bought a new stake in shares of Azenta in the 3rd quarter valued at about $220,000. 99.08% of the stock is currently owned by institutional investors and hedge funds.

Azenta Company Profile

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.