Evercore ISI Issues Pessimistic Forecast for Azenta (NASDAQ:AZTA) Stock Price

Key Points

• Evercore ISI has reduced its price target for Azenta (AZTA) from $35.00 to $33.00, while maintaining an "in-line" rating, reflecting a potential upside of 22.81% from its current price.
• Azenta's recent quarterly earnings showed an EPS of $0.19, beating estimates, and an expected annual EPS of $0.53.
• Institutional investors hold over 99% of Azenta's stock, with several large firms significantly increasing their positions recently.

Azenta (NASDAQ:AZTA - Get Free Report) had its price target lowered by equities research analysts at Evercore ISI from $35.00 to $33.00 in a report released on Tuesday, Marketbeat reports. The firm presently has an "in-line" rating on the stock. Evercore ISI's target price would indicate a potential upside of 13.29% from the company's previous close.

AZTA has been the topic of several other reports. Stephens began coverage on shares of Azenta in a report on Tuesday, July 22nd. They issued an "equal weight" rating and a $35.00 target price on the stock. Needham & Company LLC dropped their price objective on Azenta from $59.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $35.75.

Azenta Trading Up 2.6%

Shares of AZTA traded up $0.73 on Tuesday, reaching $29.13. 958,378 shares of the company's stock were exchanged, compared to its average volume of 780,353. Azenta has a 12 month low of $23.91 and a 12 month high of $56.37. The stock has a market capitalization of $1.33 billion, a P/E ratio of -12.04 and a beta of 1.59. The business has a 50 day moving average price of $31.04 and a two-hundred day moving average price of $34.81.

Azenta (NASDAQ:AZTA - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. Azenta had a negative net margin of 18.45% and a positive return on equity of 1.35%. The company had revenue of $143.94 million during the quarter, compared to analysts' expectations of $149.64 million. During the same quarter in the previous year, the company posted $0.14 EPS. The business's revenue for the quarter was up .0% compared to the same quarter last year. Equities research analysts predict that Azenta will post 0.53 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Mechanics Financial Corp increased its holdings in Azenta by 77.6% during the second 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. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Azenta by 8.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,842 shares of the company's stock worth $168,000 after purchasing an additional 396 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Azenta by 41.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,371 shares of the company's stock valued at $42,000 after purchasing an additional 403 shares during the period. Boothbay Fund Management LLC lifted its stake in Azenta by 8.4% in the 4th quarter. Boothbay Fund Management LLC now owns 6,571 shares of the company's stock valued at $329,000 after purchasing an additional 509 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in Azenta by 10.5% during the first quarter. Empowered Funds LLC now owns 6,482 shares of the company's stock worth $225,000 after purchasing an additional 618 shares during the period. 99.08% of the stock is owned by institutional investors and hedge funds.

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.