Azenta (NASDAQ:AZTA) Price Target Raised to $37.00

Azenta (NASDAQ:AZTA) had its target price lifted by investment analysts at Needham & Company LLC from $33.00 to $37.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 20.38% from the company’s current price.

Separately, Weiss Ratings raised Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.20.

Azenta Stock Performance

Shares of NASDAQ:AZTA traded up $0.60 on Wednesday, hitting $30.73. The company’s stock had a trading volume of 405,615 shares, compared to its average volume of 929,152. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -7.77 and a beta of 1.37. The stock’s 50-day moving average is $25.07 and its two-hundred day moving average is $25.60. Azenta has a 12 month low of $15.93 and a 12 month high of $41.73.

Azenta (NASDAQ:AZTA) last released its earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05. Azenta had a positive return on equity of 1.23% and a negative net margin of 30.49%.The firm had revenue of $161.18 million for the quarter, compared to analyst estimates of $149.31 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Assetmark Inc. raised its stake in Azenta by 54.1% during the fourth quarter. Assetmark Inc. now owns 832 shares of the company’s stock worth $28,000 after acquiring an additional 292 shares during the period. Osaic Holdings Inc. increased its stake in shares of Azenta by 44.9% in the second quarter. Osaic Holdings Inc. now owns 1,242 shares of the company’s stock worth $39,000 after acquiring an additional 385 shares during the last quarter. CWM LLC raised its position in Azenta by 27.3% during the fourth quarter. CWM LLC now owns 1,822 shares of the company’s stock valued at $61,000 after acquiring an additional 391 shares in the last quarter. Empowered Funds LLC raised its holdings in Azenta by 10.5% during the first quarter. Empowered Funds LLC now owns 6,482 shares of the company’s stock valued at $225,000 after buying an additional 618 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in Azenta by 8.9% during the fourth quarter. Neuberger Berman Group LLC now owns 8,379 shares of the company’s stock valued at $279,000 after purchasing an additional 684 shares during the last quarter. Institutional investors and hedge funds own 99.08% of the company’s stock.

Azenta Company Profile

Azenta, Inc (NASDAQ: AZTA) is a life sciences technology company specializing in sample management, cryogenic storage and genomic services for research and clinical applications. Formerly the Life Sciences division of Brooks Automation, Azenta provides integrated solutions that enable customers to store, track and analyze biological samples with high levels of automation, data integrity and efficiency. Its offerings span automated storage systems, biorepository management software and end?to?end sample tracking workflows.

In addition to hardware and informatics platforms for sample storage, Azenta’s Genomics business delivers next?generation sequencing (NGS), DNA synthesis, and molecular biology services.