Azenta (NASDAQ:AZTA) Coverage Initiated by Analysts at Stephens

Stephens started coverage on shares of Azenta (NASDAQ:AZTA - Get Free Report) in a research note issued on Tuesday. The firm set an "equal weight" rating and a $35.00 price target on the stock. Stephens' target price indicates a potential upside of 7.63% from the stock's current price.

Several other equities research analysts also recently commented on the stock. Evercore ISI boosted their target price on shares of Azenta from $29.00 to $35.00 and gave the company an "in-line" rating in a research note on Tuesday, July 8th. Needham & Company LLC decreased their price target on shares of Azenta from $59.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th.

Azenta Trading Up 3.8%

AZTA traded up $1.20 during trading on Tuesday, hitting $32.52. 74,938 shares of the company's stock were exchanged, compared to its average volume of 738,692. The firm has a market cap of $1.49 billion, a P/E ratio of -23.40 and a beta of 1.64. The stock has a 50 day moving average price of $29.75 and a 200 day moving average price of $36.35. Azenta has a 1 year low of $23.91 and a 1 year high of $63.58.

Azenta (NASDAQ:AZTA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). Azenta had a positive return on equity of 1.30% and a negative net margin of 10.31%. During the same quarter last year, the firm earned $0.06 EPS. Azenta's quarterly revenue was up 5.1% on a year-over-year basis. Analysts forecast that Azenta will post 0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Azenta

Large investors have recently made changes to their positions in the business. Mechanics Financial Corp boosted its holdings in Azenta by 77.6% in the 2nd quarter. Mechanics Financial Corp now owns 870 shares of the company's stock worth $27,000 after buying an additional 380 shares during the last quarter. Farther Finance Advisors LLC raised its position in Azenta by 788.1% in the first quarter. Farther Finance Advisors LLC now owns 968 shares of the company's stock valued at $33,000 after purchasing an additional 859 shares during the period. Headlands Technologies LLC acquired a new position in shares of Azenta in the fourth quarter worth $40,000. State of Wyoming grew its stake in shares of Azenta by 77.1% during the first quarter. State of Wyoming now owns 2,343 shares of the company's stock worth $81,000 after purchasing an additional 1,020 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in Azenta by 13,184.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 2,524 shares of the company's stock valued at $87,000 after acquiring an additional 2,505 shares during the last quarter. 99.08% of the stock is currently owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.