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

Azenta (NASDAQ:AZTA) had its price target lifted by Needham & Company LLC from $33.00 to $37.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

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

Azenta Stock Performance

Shares of NASDAQ AZTA opened at $32.04 on Wednesday. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -11.61 and a beta of 1.37. The business’s 50-day simple moving average is $25.62 and its 200-day simple moving average is $25.53. Azenta has a 52 week low of $15.93 and a 52 week high of $41.73.

Azenta (NASDAQ:AZTA) last posted its earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. The firm had revenue of $161.18 million during the quarter, compared to analyst estimates of $149.31 million. Azenta had a positive return on equity of 1.18% and a negative net margin of 20.63%.

Institutional Trading of Azenta

Several institutional investors have recently made changes to their positions in AZTA. BlackRock Inc. acquired a new stake in Azenta during the second quarter valued at approximately $192,152,000. Vanguard Group Inc. grew its position in Azenta by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 4,538,946 shares of the company’s stock valued at $150,965,000 after acquiring an additional 99,588 shares during the period. Conestoga Capital Advisors LLC grew its position in Azenta by 116.1% in the first quarter. Conestoga Capital Advisors LLC now owns 2,844,546 shares of the company’s stock valued at $60,105,000 after acquiring an additional 1,528,145 shares during the period. Millennium Management LLC raised its stake in Azenta by 9.9% during the fourth quarter. Millennium Management LLC now owns 1,866,531 shares of the company’s stock worth $62,081,000 after acquiring an additional 167,969 shares in the last quarter. Finally, State Street Corp raised its stake in Azenta by 1.4% during the fourth quarter. State Street Corp now owns 1,732,755 shares of the company’s stock worth $57,631,000 after acquiring an additional 24,062 shares in the last quarter. 99.08% of the stock is currently owned by institutional investors and hedge funds.

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.