Needham & Company LLC Reaffirms Buy Rating for Azenta (NASDAQ:AZTA)

Azenta (NASDAQ:AZTA)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a report issued on Monday, Benzinga reports. They currently have a $37.00 price objective on the stock. Needham & Company LLC’s target price points to a potential upside of 21.63% from the company’s current price.

Separately, Weiss Ratings raised shares of Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 26th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $41.20.

Azenta Stock Performance

AZTA traded down $0.43 during trading on Monday, reaching $30.42. The company’s stock had a trading volume of 38,317 shares, compared to its average volume of 905,658. The company’s fifty day moving average price is $30.22 and its 200-day moving average price is $25.31. Azenta has a 52-week low of $15.93 and a 52-week high of $41.73. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -10.97 and a beta of 1.39.

Azenta (NASDAQ:AZTA) last issued its earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. Azenta had a positive return on equity of 1.18% and a negative net margin of 20.63%.The business had revenue of $161.18 million during the quarter, compared to the consensus estimate of $149.31 million.

Institutional Investors Weigh In On Azenta

Large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd raised its position in Azenta by 2,067.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 802 shares of the company’s stock worth $27,000 after acquiring an additional 765 shares during the last quarter. State of Wyoming acquired a new stake in shares of Azenta in the first quarter valued at approximately $38,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Azenta in the second quarter valued at approximately $39,000. Osaic Holdings Inc. increased its stake in shares of Azenta by 44.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,242 shares of the company’s stock worth $39,000 after purchasing an additional 385 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Azenta by 98.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,392 shares of the company’s stock worth $46,000 after purchasing an additional 689 shares in the last quarter. 99.08% of the stock is owned by institutional investors and hedge funds.

About Azenta

Azenta, Inc (NASDAQ: AZTA) is a life sciences company that provides solutions for the management, storage, and analysis of biological samples. Its customers include pharmaceutical and biotechnology companies, academic and government research institutions, clinical research organizations, and other organizations involved in drug discovery, clinical research, and genomic analysis.

The company offers automated sample-management systems, ultra-low-temperature and cryogenic storage equipment, laboratory automation, consumables, and software for tracking and managing biological specimens.