Azenta (NASDAQ:AZTA) Sets New 1-Year Low - What's Next?

Shares of Azenta, Inc. (NASDAQ:AZTA - Get Free Report) reached a new 52-week low during trading on Monday . The stock traded as low as $40.08 and last traded at $40.16, with a volume of 73975 shares trading hands. The stock had previously closed at $41.51.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AZTA shares. Needham & Company LLC decreased their price target on shares of Azenta from $69.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday, November 13th. Evercore ISI cut their price objective on shares of Azenta from $53.00 to $50.00 and set an "in-line" rating for the company in a research report on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $63.60.

Azenta Price Performance

The stock has a market cap of $1.97 billion, a P/E ratio of -13.59 and a beta of 1.48. The business's fifty day moving average price is $45.44 and its 200 day moving average price is $50.35.

Azenta (NASDAQ:AZTA - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $170.00 million during the quarter, compared to analyst estimates of $169.66 million. Azenta had a negative net margin of 25.01% and a positive return on equity of 1.03%. The firm's quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business earned $0.13 EPS. On average, analysts predict that Azenta, Inc. will post 0.4 earnings per share for the current fiscal year.

Insider Transactions at Azenta

In other Azenta news, CFO Herman Cueto sold 1,595 shares of the firm's stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $43.68, for a total transaction of $69,669.60. Following the transaction, the chief financial officer now directly owns 24,604 shares in the company, valued at approximately $1,074,702.72. This trade represents a 6.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.77% of the company's stock.

Hedge Funds Weigh In On Azenta

Several large investors have recently bought and sold shares of AZTA. Hantz Financial Services Inc. bought a new stake in shares of Azenta during the 2nd quarter worth $30,000. Farther Finance Advisors LLC raised its stake in shares of Azenta by 20.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company's stock worth $74,000 after purchasing an additional 256 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Azenta by 150.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company's stock worth $84,000 after purchasing an additional 955 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Azenta during the 1st quarter worth $130,000. Finally, Acadian Asset Management LLC raised its stake in shares of Azenta by 24.7% during the 1st quarter. Acadian Asset Management LLC now owns 2,381 shares of the company's stock worth $143,000 after purchasing an additional 471 shares during the period. 99.08% of the stock is currently owned by institutional investors.

About Azenta

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.