Azenta, Inc. (NASDAQ:AZTA) Receives $35.75 Consensus Price Target from Analysts

Azenta, Inc. (NASDAQ:AZTA) has been given an average rating of “Hold” by the seven analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $36.20.

A number of analysts recently weighed in on the stock. Evercore ISI set a $33.00 price objective on shares of Azenta and gave the stock an “in-line” rating in a report on Tuesday, August 5th. Jefferies Financial Group raised shares of Azenta from a “hold” rating to a “buy” rating and increased their price objective for the stock from $30.00 to $38.00 in a report on Thursday. Raymond James Financial raised shares of Azenta from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Azenta in a report on Wednesday, October 8th. Finally, Stephens assumed coverage on shares of Azenta in a report on Tuesday, July 22nd. They issued an “equal weight” rating and a $35.00 price objective on the stock.

Azenta Stock Performance

Shares of NASDAQ:AZTA opened at $30.20 on Tuesday. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -12.48 and a beta of 1.62. Azenta has a 1-year low of $23.91 and a 1-year high of $55.63. The company’s fifty day moving average is $30.60 and its two-hundred day moving average is $29.86.

Azenta (NASDAQ:AZTA) last issued its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The company had revenue of $143.94 million for the quarter, compared to analysts’ expectations of $149.64 million. Azenta had a negative net margin of 18.45% and a positive return on equity of 1.35%. The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 earnings per share. Sell-side analysts expect that Azenta will post 0.53 EPS for the current fiscal year.

Institutional Trading of Azenta

Large investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. grew its position in Azenta by 6.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 12,617 shares of the company’s stock valued at $437,000 after buying an additional 756 shares in the last quarter. Peregrine Capital Management LLC grew its position in Azenta by 3.4% in the 1st quarter. Peregrine Capital Management LLC now owns 154,470 shares of the company’s stock valued at $5,351,000 after buying an additional 5,093 shares in the last quarter. DAVENPORT & Co LLC grew its position in Azenta by 4.1% in the 1st quarter. DAVENPORT & Co LLC now owns 27,438 shares of the company’s stock valued at $950,000 after buying an additional 1,090 shares in the last quarter. Principal Financial Group Inc. grew its position in Azenta by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 226,491 shares of the company’s stock valued at $7,846,000 after buying an additional 5,408 shares in the last quarter. Finally, Palisade Capital Management LP grew its position in Azenta by 7.1% in the 1st quarter. Palisade Capital Management LP now owns 868,324 shares of the company’s stock valued at $30,079,000 after buying an additional 57,418 shares in the last quarter. Institutional investors and hedge funds own 99.08% of the company’s stock.

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.