Azenta (NASDAQ:AZTA) Upgraded by TD Cowen to "Hold" Rating

Azenta (NASDAQ:AZTA - Get Free Report) was upgraded by equities research analysts at TD Cowen to a "hold" rating in a report released on Thursday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the company. Evercore ISI raised their price objective on Azenta from $50.00 to $52.00 and gave the company an "in-line" rating in a report on Thursday, February 6th. Needham & Company LLC raised their price target on shares of Azenta from $55.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, Stephens reiterated an "overweight" rating and set a $60.00 price target on shares of Azenta in a report on Thursday, January 2nd. Three 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, Azenta has an average rating of "Hold" and a consensus target price of $58.75.

Azenta Price Performance

NASDAQ:AZTA traded down $0.13 during trading hours on Thursday, hitting $40.94. The company's stock had a trading volume of 448,787 shares, compared to its average volume of 574,356. Azenta has a twelve month low of $38.82 and a twelve month high of $67.77. The stock has a fifty day simple moving average of $49.80 and a 200-day simple moving average of $47.55. The company has a market capitalization of $1.87 billion, a P/E ratio of -13.74 and a beta of 1.47.

Azenta (NASDAQ:AZTA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts predict that Azenta will post 0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in Azenta by 20.0% during the third quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company's stock worth $74,000 after acquiring an additional 256 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of Azenta by 6.6% during the 3rd quarter. QRG Capital Management Inc. now owns 6,156 shares of the company's stock worth $298,000 after purchasing an additional 383 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of Azenta by 2.0% in the 4th quarter. Ballentine Partners LLC now owns 20,340 shares of the company's stock valued at $1,017,000 after buying an additional 404 shares during the period. Boothbay Fund Management LLC increased its position in Azenta by 8.4% in the 4th quarter. Boothbay Fund Management LLC now owns 6,571 shares of the company's stock valued at $329,000 after buying an additional 509 shares in the last quarter. Finally, Picton Mahoney Asset Management raised its stake in Azenta by 305.7% during the 4th quarter. Picton Mahoney Asset Management now owns 706 shares of the company's stock worth $35,000 after buying an additional 532 shares during the period. Institutional investors and hedge funds own 99.08% of the company's stock.

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.