Azenta, Inc. (NASDAQ:AZTA - Get Free Report)'s share price hit a new 52-week low on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $23.91 and last traded at $26.05, with a volume of 36697 shares changing hands. The stock had previously closed at $25.42.
The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.04). Azenta had a positive return on equity of 1.25% and a negative net margin of 24.91%. Azenta's revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.06 EPS.
Analysts Set New Price Targets
A number of equities analysts recently commented on the stock. Needham & Company LLC decreased their target price on shares of Azenta from $59.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday. Evercore ISI boosted their price objective on Azenta from $50.00 to $52.00 and gave the company an "in-line" rating in a research report on Thursday, February 6th. Finally, TD Cowen upgraded shares of Azenta to a "hold" rating in a report on Thursday, February 27th.
Read Our Latest Stock Report on Azenta
Institutional Trading of Azenta
A number of institutional investors and hedge funds have recently modified their holdings of the business. Lord Abbett & CO. LLC bought a new position in shares of Azenta during the 4th quarter valued at $47,350,000. Conestoga Capital Advisors LLC boosted its position in Azenta by 65.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,577,881 shares of the company's stock worth $78,894,000 after purchasing an additional 621,830 shares during the last quarter. Norges Bank bought a new stake in shares of Azenta during the 4th quarter valued at about $25,403,000. Schroder Investment Management Group increased its position in shares of Azenta by 46.7% during the 4th quarter. Schroder Investment Management Group now owns 1,405,056 shares of the company's stock valued at $70,183,000 after purchasing an additional 447,292 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Azenta in the 4th quarter worth approximately $20,469,000. Institutional investors own 99.08% of the company's stock.
Azenta Stock Down 3.2 %
The company has a market cap of $1.23 billion, a PE ratio of -9.00 and a beta of 1.64. The business's fifty day moving average is $31.45 and its 200-day moving average is $42.02.
About Azenta
(
Get Free Report)
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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