Azenta (NASDAQ:AZTA) Reaches New 12-Month Low - Should You Sell?

Azenta, Inc. (NASDAQ:AZTA - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $26.14 and last traded at $26.59, with a volume of 1596346 shares. The stock had previously closed at $29.10.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AZTA. Stephens reissued an "overweight" rating and issued a $60.00 price objective on shares of Azenta in a report on Thursday, January 2nd. Needham & Company LLC increased their price target on Azenta from $55.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Evercore ISI lifted their price objective on shares of Azenta from $50.00 to $52.00 and gave the company an "in-line" rating in a research note on Thursday, February 6th. Finally, TD Cowen upgraded shares of Azenta to a "hold" rating in a research report on Thursday, February 27th.

Azenta Stock Performance

The company has a market cap of $1.25 billion, a P/E ratio of -9.16 and a beta of 1.66. The stock has a 50 day moving average price of $39.42 and a 200 day moving average price of $44.72.

Azenta (NASDAQ:AZTA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. Azenta had a negative net margin of 24.91% and a positive return on equity of 1.25%. As a group, equities research analysts predict that Azenta, Inc. will post 0.53 earnings per share for the current year.

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Institutional Investors Weigh In On Azenta

Hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC acquired a new position in Azenta in the 4th quarter valued at approximately $47,350,000. Conestoga Capital Advisors LLC raised its stake in shares of Azenta by 65.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,577,881 shares of the company's stock worth $78,894,000 after purchasing an additional 621,830 shares in the last quarter. Norges Bank acquired a new stake in shares of Azenta during the 4th quarter valued at about $25,403,000. Schroder Investment Management Group increased its holdings in Azenta by 46.7% in the fourth quarter. Schroder Investment Management Group now owns 1,405,056 shares of the company's stock worth $70,183,000 after buying an additional 447,292 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Azenta in the fourth quarter valued at approximately $20,469,000. Hedge funds and other institutional investors own 99.08% of the company's stock.

Azenta Company Profile

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.