Azenta (NASDAQ:AZTA) Upgraded to “Hold” at TD Cowen

Azenta (NASDAQ:AZTA) was upgraded by research analysts at TD Cowen to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Evercore ISI lifted their target price on shares of Azenta from $50.00 to $52.00 and gave the stock an “in-line” rating in a research note on Thursday, February 6th. Needham & Company LLC lifted their price target on Azenta from $55.00 to $59.00 and gave the stock a “buy” rating in a report 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $58.75.

Azenta Stock Performance

Azenta stock opened at $43.62 on Thursday. The company’s fifty day moving average price is $50.17 and its 200 day moving average price is $47.75. Azenta has a 1 year low of $38.82 and a 1 year high of $67.77. The stock has a market capitalization of $1.99 billion, a P/E ratio of -14.64 and a beta of 1.47.

Azenta (NASDAQ:AZTA) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Azenta had a negative net margin of 24.91% and a positive return on equity of 1.25%. Sell-side analysts predict that Azenta will post 0.53 EPS for the current year.

Hedge Funds Weigh In On Azenta

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Premier Fund Managers Ltd acquired a new position in Azenta in the third quarter valued at approximately $686,000. Royce & Associates LP boosted its holdings in shares of Azenta by 7.8% in the third quarter. Royce & Associates LP now owns 739,977 shares of the company’s stock valued at $35,844,000 after acquiring an additional 53,584 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Azenta by 355.2% in the fourth quarter. State of Alaska Department of Revenue now owns 25,899 shares of the company’s stock valued at $1,294,000 after acquiring an additional 20,210 shares during the period. Stephens Inc. AR acquired a new stake in shares of Azenta in the fourth quarter valued at approximately $313,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Azenta in the fourth quarter valued at approximately $813,000. 99.08% of the stock is owned by institutional investors and hedge funds.

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.