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

by · The Cerbat Gem

Azenta (NASDAQ:AZTA – Free Report) had its price target cut by Evercore ISI from $53.00 to $50.00 in a research report report published on Tuesday, Benzinga reports. They currently have an in-line rating on the stock.

Separately, Needham & Company LLC reiterated a buy rating and issued a $69.00 price target 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 given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $66.40.

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Azenta Stock Up 1.7 %

Shares of NASDAQ:AZTA opened at $48.27 on Tuesday. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -17.81 and a beta of 1.47. The business’s 50 day moving average is $50.95 and its 200 day moving average is $53.03. Azenta has a 12-month low of $44.00 and a 12-month high of $69.16.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. bought a new position in Azenta during the 2nd quarter worth approximately $30,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of Azenta in the first quarter worth approximately $38,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Azenta in the first quarter worth $49,000. Lazard Asset Management LLC bought a new stake in Azenta during the 1st quarter valued at $130,000. Finally, Acadian Asset Management LLC grew its holdings in Azenta by 24.7% in the 1st quarter. Acadian Asset Management LLC now owns 2,381 shares of the company’s stock worth $143,000 after acquiring an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 99.08% of the company’s stock.

Azenta Company Profile

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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.

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