Azenta (NASDAQ:AZTA - Get Free Report)'s stock had its "overweight" rating reiterated by research analysts at Stephens in a report issued on Thursday,Benzinga reports. They presently have a $60.00 price objective on the stock. Stephens' price objective suggests a potential upside of 19.90% from the stock's previous close.
Other equities research analysts also recently issued reports about the company. Needham & Company LLC dropped their price objective on Azenta from $69.00 to $55.00 and set a "buy" rating on the stock in a report on Wednesday, November 13th. Evercore ISI reduced their price objective on shares of Azenta from $53.00 to $50.00 and set an "in-line" rating on the stock in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $61.60.
Read Our Latest Stock Analysis on Azenta
Azenta Price Performance
NASDAQ:AZTA traded up $0.04 on Thursday, reaching $50.04. The stock had a trading volume of 315,742 shares, compared to its average volume of 569,272. Azenta has a 12-month low of $38.82 and a 12-month high of $69.16. The firm's fifty day moving average is $45.84 and its two-hundred day moving average is $49.22. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -16.85 and a beta of 1.49.
Azenta (NASDAQ:AZTA - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.08. Azenta had a negative net margin of 25.01% and a positive return on equity of 1.03%. The firm had revenue of $170.00 million during the quarter, compared to the consensus estimate of $169.66 million. During the same period in the previous year, the firm earned $0.13 earnings per share. Azenta's revenue was down 1.2% compared to the same quarter last year. As a group, research analysts forecast that Azenta will post 0.41 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Azenta news, Director William L. Cornog purchased 12,500 shares of the company's stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average cost of $39.60 per share, with a total value of $495,000.00. Following the completion of the transaction, the director now owns 14,755 shares of the company's stock, valued at approximately $584,298. This represents a 554.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Herman Cueto sold 1,595 shares of the company's stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $43.68, for a total value of $69,669.60. Following the completion of the transaction, the chief financial officer now owns 24,604 shares in the company, valued at $1,074,702.72. This represents a 6.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,018 shares of company stock worth $126,689. 10.62% of the stock is owned by company insiders.
Institutional Investors Weigh In On Azenta
A number of institutional investors have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC boosted its position in Azenta by 1.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,298,040 shares of the company's stock valued at $278,783,000 after purchasing an additional 100,826 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Azenta by 16.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,970,964 shares of the company's stock valued at $156,331,000 after acquiring an additional 421,719 shares in the last quarter. State Street Corp grew its position in Azenta by 0.4% in the third quarter. State Street Corp now owns 1,686,993 shares of the company's stock worth $81,718,000 after acquiring an additional 6,398 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Azenta by 16.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,298,856 shares of the company's stock worth $62,917,000 after acquiring an additional 183,040 shares in the last quarter. Finally, Royce & Associates LP increased its stake in shares of Azenta by 7.8% during the 3rd quarter. Royce & Associates LP now owns 739,977 shares of the company's stock worth $35,844,000 after purchasing an additional 53,584 shares during the last quarter. Institutional investors and hedge funds own 99.08% of the company's stock.
About Azenta
(
Get Free Report)
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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