Azenta (NASDAQ:AZTA) Rating Increased to Outperform at Raymond James Financial

Key Points

• Azenta has been upgraded from "market perform" to "outperform" by Raymond James Financial, with a target price of $35.00, indicating a potential upside of approximately 30.11% from the current price.
• The company's latest quarterly earnings reported an EPS of $0.19, surpassing analyst estimates of $0.13, but revenue fell short of expectations at $143.94 million.
• Institutional investors hold a significant 99.08% stake in Azenta, with various firms like Deutsche Bank and SG Americas Securities increasing their holdings by notable percentages.

Raymond James Financial upgraded shares of Azenta (NASDAQ:AZTA - Free Report) from a market perform rating to an outperform rating in a research note published on Wednesday morning, Marketbeat.com reports. They currently have $35.00 price objective on the stock.

A number of other research analysts also recently commented on the company. Stephens assumed coverage on Azenta in a research note on Tuesday, July 22nd. They set an "equal weight" rating and a $35.00 price objective for the company. Evercore ISI set a $33.00 price objective on Azenta and gave the company an "in-line" rating in a report on Tuesday. Finally, Needham & Company LLC reduced their target price on Azenta from $59.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $35.75.

Azenta Stock Down 0.3%

Shares of AZTA traded down $0.10 during trading on Wednesday, reaching $29.03. The company's stock had a trading volume of 865,934 shares, compared to its average volume of 703,301. The company has a fifty day moving average of $31.12 and a two-hundred day moving average of $34.48. Azenta has a twelve month low of $23.91 and a twelve month high of $56.28. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -12.00 and a beta of 1.59.

Azenta (NASDAQ:AZTA - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.06. The company had revenue of $143.94 million for the quarter, compared to analyst estimates of $149.64 million. Azenta had a positive return on equity of 1.35% and a negative net margin of 18.45%. Azenta's quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 EPS. As a group, equities analysts forecast that Azenta will post 0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Azenta

Several hedge funds and other institutional investors have recently modified their holdings of AZTA. Mechanics Financial Corp lifted its position in shares of Azenta by 77.6% during 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 period. Farther Finance Advisors LLC increased its holdings in Azenta by 788.1% during the 1st quarter. Farther Finance Advisors LLC now owns 968 shares of the company's stock valued at $33,000 after purchasing an additional 859 shares in the last quarter. CWM LLC increased its holdings in Azenta by 113.5% during the 2nd quarter. CWM LLC now owns 1,898 shares of the company's stock valued at $58,000 after purchasing an additional 1,009 shares in the last quarter. Allworth Financial LP increased its holdings in Azenta by 29.1% during the 2nd quarter. Allworth Financial LP now owns 2,050 shares of the company's stock valued at $63,000 after purchasing an additional 462 shares in the last quarter. Finally, State of Wyoming increased its holdings in Azenta by 77.1% during the 1st quarter. State of Wyoming now owns 2,343 shares of the company's stock valued at $81,000 after purchasing an additional 1,020 shares in the last quarter. Institutional investors own 99.08% of the company's stock.

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.