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

Azenta (NASDAQ:AZTA) had its target price trimmed by Evercore ISI from $53.00 to $50.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has an in-line rating on the stock.

Separately, Needham & Company LLC reissued a buy rating and set a $69.00 price target on shares of Azenta in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Azenta has a consensus rating of Hold and an average target price of $66.40.

Azenta Trading Down 0.6 %

Azenta stock opened at $47.44 on Tuesday. The firm has a market capitalization of $2.56 billion, a P/E ratio of -17.52 and a beta of 1.47. The stock has a fifty day moving average price of $51.18 and a 200 day moving average price of $53.07. Azenta has a 52 week low of $44.00 and a 52 week high of $69.16.

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

Institutional Investors Weigh In On Azenta

Institutional investors and hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. purchased a new stake in shares of Azenta in the second quarter worth about $30,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Azenta in the first quarter worth about $38,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Azenta in the first quarter valued at about $49,000. Lazard Asset Management LLC purchased a new position in Azenta in the first quarter valued at about $130,000. Finally, Acadian Asset Management LLC boosted its holdings in Azenta by 24.7% in the first quarter. Acadian Asset Management LLC now owns 2,381 shares of the company’s stock valued at $143,000 after purchasing an additional 471 shares during the last quarter. Hedge funds and other institutional investors 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.