Azenta (NASDAQ:AZTA) Given New $55.00 Price Target at Needham & Company LLC

Azenta (NASDAQ:AZTA - Free Report) had its price objective cut by Needham & Company LLC from $69.00 to $55.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, Evercore ISI reduced their target price on Azenta from $53.00 to $50.00 and set an "in-line" rating for the company in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $63.60.

Azenta Trading Down 3.2 %

Azenta stock traded down $1.48 during midday trading on Wednesday, hitting $44.51. 1,193,682 shares of the company's stock were exchanged, compared to its average volume of 499,002. The firm's 50 day simple moving average is $45.83 and its 200 day simple moving average is $50.64. Azenta has a 12-month low of $40.24 and a 12-month high of $69.16.

Azenta (NASDAQ:AZTA - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.07. Azenta had a positive return on equity of 0.98% and a negative net margin of 25.01%. The firm had revenue of $170.00 million during the quarter, compared to the consensus estimate of $169.66 million. During the same period last year, the company earned $0.13 earnings per share. The company's revenue for the quarter was down 1.2% on a year-over-year basis. Analysts forecast that Azenta will post 0.42 earnings per share for the current year.

Insider Transactions at Azenta

In related news, CFO Herman Cueto sold 1,595 shares of Azenta stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $43.68, for a total value of $69,669.60. Following the transaction, the chief financial officer now owns 24,604 shares in the company, valued at approximately $1,074,702.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.77% of the company's stock.

Hedge Funds Weigh In On Azenta

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. acquired a new position in shares of Azenta in the 2nd quarter valued at approximately $30,000. Farther Finance Advisors LLC boosted its stake in Azenta by 20.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company's stock valued at $74,000 after acquiring an additional 256 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in 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 acquiring an additional 955 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Azenta in the 1st quarter worth about $130,000. Finally, Acadian Asset Management LLC raised its stake in shares of Azenta by 24.7% in the 1st quarter. Acadian Asset Management LLC now owns 2,381 shares of the company's stock valued at $143,000 after purchasing an additional 471 shares in the last quarter. 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.