Azenta (NASDAQ:AZTA) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Azenta (NASDAQ:AZTAFree Report) in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a $75.00 price target on the stock.

Several other equities analysts have also issued reports on AZTA. Stephens reissued an equal weight rating and set a $70.00 target price on shares of Azenta in a research note on Thursday, February 8th. B. Riley increased their price target on shares of Azenta from $61.00 to $79.00 and gave the stock a buy rating in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from, the company has an average rating of Moderate Buy and a consensus price target of $74.67.

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Azenta Stock Performance

Azenta stock opened at $60.28 on Thursday. The company’s 50 day simple moving average is $63.94 and its 200-day simple moving average is $58.24. Azenta has a 1 year low of $36.01 and a 1 year high of $69.16. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of -194.45 and a beta of 1.54.

Azenta (NASDAQ:AZTAGet Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $0.02 earnings per share for the quarter. Azenta had a negative net margin of 2.92% and a positive return on equity of 0.49%. The firm had revenue of $154.32 million during the quarter, compared to the consensus estimate of $151.86 million. Equities analysts expect that Azenta will post 0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. TFC Financial Management Inc. purchased a new position in shares of Azenta in the 3rd quarter valued at about $25,000. Headlands Technologies LLC acquired a new position in Azenta during the 3rd quarter worth approximately $33,000. Principal Securities Inc. purchased a new stake in shares of Azenta in the 4th quarter valued at approximately $36,000. Huntington National Bank raised its holdings in shares of Azenta by 35.3% in the 2nd quarter. Huntington National Bank now owns 782 shares of the company’s stock valued at $37,000 after purchasing an additional 204 shares in the last quarter. Finally, Pinebridge Investments L.P. purchased a new stake in shares of Azenta during the 2nd quarter worth $38,000. 99.08% of the stock is owned by institutional investors and hedge funds.

About Azenta

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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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