Evercore ISI Lowers Azenta (NASDAQ:AZTA) Price Target to $50.00

Azenta (NASDAQ:AZTA) had its price target decreased by analysts at Evercore ISI from $53.00 to $50.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 5.04% from the company’s previous close.

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $69.00 price target on shares of Azenta in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $66.40.

Azenta Stock Down 1.7 %

Shares of AZTA stock traded down $0.84 during trading hours on Tuesday, reaching $47.60. The company’s stock had a trading volume of 83,778 shares, compared to its average volume of 504,913. The firm’s 50 day simple moving average is $51.58 and its 200-day simple moving average is $53.19. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -17.56 and a beta of 1.47. Azenta has a fifty-two week low of $44.00 and a fifty-two week high of $69.16.

Azenta (NASDAQ:AZTA) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. Azenta had a positive return on equity of 0.89% and a negative net margin of 23.66%. The company had revenue of $173.00 million during the quarter, compared to analysts’ expectations of $166.14 million. During the same period in the prior year, the company earned $0.13 EPS. Azenta’s revenue was up 4.2% compared to the same quarter last year. Sell-side analysts predict that Azenta will post 0.33 earnings per share for the current year.

Hedge Funds Weigh In On Azenta

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Redwood Investment Management LLC bought a new stake in shares of Azenta in the 1st quarter valued at $1,497,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Azenta in the 1st quarter valued at $615,000. Lighthouse Investment Partners LLC bought a new stake in shares of Azenta in the 4th quarter valued at $1,973,000. Edgestream Partners L.P. boosted its stake in shares of Azenta by 618.2% in the 1st quarter. Edgestream Partners L.P. now owns 58,644 shares of the company’s stock valued at $3,535,000 after purchasing an additional 50,479 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of Azenta in the 1st quarter valued at $1,401,000. 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.