Azenta (NASDAQ:AZTA) Stock Rating Reaffirmed by Needham & Company LLC

Azenta (NASDAQ:AZTA)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $75.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 26.20% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. B. Riley upped their target price on shares of Azenta from $61.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Stephens reaffirmed an “equal weight” rating and set a $70.00 price objective on shares of Azenta in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $74.67.

Azenta Trading Up 1.8 %

Shares of Azenta stock opened at $59.43 on Thursday. Azenta has a twelve month low of $36.01 and a twelve month high of $69.16. The firm’s 50-day moving average price is $64.06 and its 200 day moving average price is $58.23. The firm has a market capitalization of $3.31 billion, a PE ratio of -191.70 and a beta of 1.54.

Azenta (NASDAQ:AZTA) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.02 earnings per share (EPS) for the quarter. Azenta had a positive return on equity of 0.49% and a negative net margin of 2.92%. The firm had revenue of $154.32 million for the quarter, compared to analyst estimates of $151.86 million. On average, sell-side analysts predict that Azenta will post 0.28 EPS for the current fiscal year.

Institutional Trading of Azenta

Large investors have recently added to or reduced their stakes in the stock. Citigroup Inc. grew its holdings in shares of Azenta by 558.8% in the third quarter. Citigroup Inc. now owns 88,078 shares of the company’s stock valued at $4,421,000 after purchasing an additional 74,708 shares during the period. Millrace Asset Group Inc. purchased a new stake in shares of Azenta during the 3rd quarter valued at approximately $1,074,000. Trexquant Investment LP purchased a new stake in shares of Azenta during the 3rd quarter valued at approximately $860,000. Invesco Ltd. grew its position in Azenta by 35.4% in the third quarter. Invesco Ltd. now owns 331,012 shares of the company’s stock worth $16,613,000 after acquiring an additional 86,477 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in Azenta in the third quarter valued at $220,000. 99.08% of the stock is currently owned by hedge funds and other institutional investors.

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.