Azenta (NASDAQ:AZTA) Reaches New 12-Month Low – Here’s What Happened

Azenta, Inc. (NASDAQ:AZTA) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $43.84 and last traded at $43.88, with a volume of 353124 shares. The stock had previously closed at $45.69.

Analyst Ratings Changes

AZTA has been the subject of several research reports. Evercore ISI reduced their target price on Azenta from $53.00 to $50.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Needham & Company LLC restated a “buy” rating and set a $69.00 target price on shares of Azenta in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Azenta currently has an average rating of “Hold” and a consensus price target of $66.40.

Azenta Stock Down 2.5 %

The firm’s fifty day simple moving average is $50.12 and its 200-day simple moving average is $52.70. The company has a market cap of $2.40 billion, a PE ratio of -16.86 and a beta of 1.47.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. acquired a new stake in shares of Azenta during the second quarter valued at about $30,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Azenta during the 1st quarter worth approximately $38,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Azenta in the 1st quarter valued at approximately $49,000. Lazard Asset Management LLC purchased a new position in shares of Azenta during the 1st quarter valued at approximately $130,000. Finally, Acadian Asset Management LLC grew its position in shares of Azenta by 24.7% during the first quarter. Acadian Asset Management LLC now owns 2,381 shares of the company’s stock worth $143,000 after buying an additional 471 shares in the last quarter. 99.08% of the stock is currently owned by hedge funds and other institutional investors.

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.