Azenta (NASDAQ:AZTA) Hits New 12-Month High - What's Next?

Shares of Azenta, Inc. (NASDAQ:AZTA - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $27.30 and last traded at $26.34, with a volume of 750154 shares. The stock had previously closed at $26.61.

Analysts Set New Price Targets

Several brokerages have commented on AZTA. TD Cowen upgraded Azenta to a "hold" rating in a research note on Thursday, February 27th. Needham & Company LLC upped their price target on Azenta from $55.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, Evercore ISI lifted their price objective on shares of Azenta from $50.00 to $52.00 and gave the company an "in-line" rating in a research note on Thursday, February 6th.

Azenta Stock Down 1.9 %

The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -8.62 and a beta of 1.64. The company has a 50 day moving average of $32.72 and a 200 day moving average of $42.49.

Azenta (NASDAQ:AZTA - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. Azenta had a positive return on equity of 1.25% and a negative net margin of 24.91%. As a group, equities research analysts expect that Azenta, Inc. will post 0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Azenta

Several institutional investors and hedge funds have recently made changes to their positions in AZTA. Picton Mahoney Asset Management increased its stake in Azenta by 305.7% during the fourth quarter. Picton Mahoney Asset Management now owns 706 shares of the company's stock valued at $35,000 after purchasing an additional 532 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Azenta during the 4th quarter valued at about $40,000. Farther Finance Advisors LLC raised its stake in Azenta by 788.1% during the first quarter. Farther Finance Advisors LLC now owns 968 shares of the company's stock worth $33,000 after acquiring an additional 859 shares during the period. Covestor Ltd lifted its holdings in Azenta by 64.2% in the fourth quarter. Covestor Ltd now owns 2,043 shares of the company's stock worth $102,000 after acquiring an additional 799 shares during the last quarter. Finally, KBC Group NV boosted its stake in Azenta by 48.5% in the fourth quarter. KBC Group NV now owns 2,137 shares of the company's stock valued at $107,000 after acquiring an additional 698 shares during the period. 99.08% of the stock is owned by institutional investors and hedge funds.

Azenta Company Profile

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.