Evercore ISI Lowers Azenta (NASDAQ:AZTA) Price Target to $50.00

Azenta (NASDAQ:AZTA) had its target price dropped by Evercore ISI from $53.00 to $50.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s price objective would indicate a potential upside of 5.04% from the stock’s current price.

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

Azenta Trading Down 1.7 %

NASDAQ AZTA traded down $0.84 on Tuesday, hitting $47.60. 83,778 shares of the company were exchanged, compared to its average volume of 504,913. The company has a market cap of $2.57 billion, a PE ratio of -17.56 and a beta of 1.47. Azenta has a 12 month low of $44.00 and a 12 month high of $69.16. The stock has a fifty day moving average of $51.58 and a 200-day moving average of $53.19.

Azenta (NASDAQ:AZTA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $173.00 million for the quarter, compared to the consensus estimate of $166.14 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. On average, analysts expect that Azenta will post 0.33 earnings per share for the current year.

Hedge Funds Weigh In On Azenta

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AZTA. US Bancorp DE boosted its position in Azenta by 3.8% during the fourth quarter. US Bancorp DE now owns 13,239 shares of the company’s stock worth $862,000 after purchasing an additional 480 shares during the period. Schroder Investment Management Group boosted its position in Azenta by 14.6% during the fourth quarter. Schroder Investment Management Group now owns 625,515 shares of the company’s stock worth $40,746,000 after purchasing an additional 79,913 shares during the period. Lighthouse Investment Partners LLC bought a new position in Azenta during the fourth quarter worth about $1,973,000. Neuberger Berman Group LLC boosted its position in Azenta by 8.6% during the fourth quarter. Neuberger Berman Group LLC now owns 7,770 shares of the company’s stock worth $506,000 after purchasing an additional 616 shares during the period. Finally, HighPoint Advisor Group LLC bought a new position in shares of Azenta in the fourth quarter valued at approximately $364,000. Institutional investors own 99.08% of the company’s stock.

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.