Azenta (NASDAQ:AZTA) Price Target Raised to $35.00

Azenta (NASDAQ:AZTA - Get Free Report) had its price objective increased by Evercore ISI from $29.00 to $35.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "in-line" rating on the stock. Evercore ISI's price objective would indicate a potential upside of 11.36% from the stock's previous close.

Separately, Needham & Company LLC lowered their target price on Azenta from $59.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th.

Azenta Price Performance

Shares of AZTA stock opened at $31.43 on Tuesday. The business's fifty day moving average price is $28.62 and its 200 day moving average price is $37.46. Azenta has a 1-year low of $23.91 and a 1-year high of $63.58. The firm has a market capitalization of $1.44 billion, a PE ratio of -22.61 and a beta of 1.64.

Azenta (NASDAQ:AZTA - Get Free Report) last announced its quarterly earnings data 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%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $0.06 EPS. Equities research analysts expect that Azenta will post 0.53 earnings per share for the current fiscal year.

Institutional Trading of Azenta

Several institutional investors and hedge funds have recently made changes to their positions in AZTA. Charles Schwab Investment Management Inc. lifted its position in shares of Azenta by 11.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 461,603 shares of the company's stock valued at $23,080,000 after acquiring an additional 48,064 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Azenta in the fourth quarter valued at $910,000. Raymond James Financial Inc. purchased a new stake in shares of Azenta in the fourth quarter valued at $2,331,000. First Eagle Investment Management LLC purchased a new position in Azenta during the fourth quarter worth about $4,875,000. Finally, Picton Mahoney Asset Management lifted its position in Azenta by 305.7% during the fourth quarter. Picton Mahoney Asset Management now owns 706 shares of the company's stock worth $35,000 after buying an additional 532 shares during the period. 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.

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