Needham & Company LLC Has Lowered Expectations for Azenta (NASDAQ:AZTA) Stock Price

Azenta (NASDAQ:AZTA) had its price target lowered by Needham & Company LLC from $69.00 to $55.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Evercore ISI lowered their target price on shares of Azenta from $53.00 to $50.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Three 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, the stock presently has an average rating of “Hold” and an average target price of $63.60.

Azenta Stock Down 1.1 %

Shares of Azenta stock traded down $0.51 during trading on Wednesday, reaching $44.00. 45,167 shares of the company were exchanged, compared to its average volume of 496,856. Azenta has a twelve month low of $40.24 and a twelve month high of $69.16. The business has a 50-day moving average price of $45.78 and a 200-day moving average price of $50.59. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -14.99 and a beta of 1.48.

Azenta (NASDAQ:AZTA) last posted its earnings results on Tuesday, November 12th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.07. The company had revenue of $170.00 million during the quarter, compared to analyst estimates of $169.66 million. Azenta had a positive return on equity of 0.98% and a negative net margin of 25.01%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 EPS. On average, equities research analysts forecast that Azenta will post 0.42 EPS for the current fiscal year.

Insider Activity

In other Azenta news, CFO Herman Cueto sold 1,595 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $43.68, for a total transaction of $69,669.60. Following the sale, the chief financial officer now directly owns 24,604 shares in the company, valued at approximately $1,074,702.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Azenta

Several large investors have recently made changes to their positions in AZTA. Hantz Financial Services Inc. acquired a new stake in Azenta in the 2nd quarter valued at approximately $30,000. Farther Finance Advisors LLC increased its stake in Azenta by 20.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company’s stock valued at $74,000 after buying an additional 256 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Azenta by 150.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock worth $84,000 after buying an additional 955 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Azenta in the 1st quarter valued at about $130,000. Finally, Acadian Asset Management LLC increased its position in shares of Azenta by 24.7% in the first quarter. Acadian Asset Management LLC now owns 2,381 shares of the company’s stock valued at $143,000 after acquiring an additional 471 shares during the last quarter. Institutional investors own 99.08% of the company’s stock.

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.