Azenta (NASDAQ:AZTA) Sets New 12-Month Low – Should You Sell?

Azenta, Inc. (NASDAQ:AZTA)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $38.78 and last traded at $38.81, with a volume of 49655 shares changing hands. The stock had previously closed at $40.62.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AZTA shares. Needham & Company LLC increased their price target on shares of Azenta from $55.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, February 6th. TD Cowen upgraded shares of Azenta to a “hold” rating in a research note on Thursday, February 27th. Evercore ISI boosted their price target on Azenta from $50.00 to $52.00 and gave the company an “in-line” rating in a research note on Thursday, February 6th. Finally, Stephens reaffirmed an “overweight” rating and issued 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $58.75.

Azenta Trading Down 5.8 %

The company has a market capitalization of $1.75 billion, a P/E ratio of -12.88 and a beta of 1.52. The business’s fifty day moving average price is $48.94 and its 200 day moving average price is $47.29.

Azenta (NASDAQ:AZTA) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 EPS for the quarter, topping 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%. Equities research analysts anticipate that Azenta, Inc. will post 0.53 EPS for the current year.

Institutional Investors Weigh In On Azenta

Several large investors have recently made changes to their positions in AZTA. Picton Mahoney Asset Management lifted its holdings in Azenta by 305.7% during the 4th quarter. Picton Mahoney Asset Management now owns 706 shares of the company’s stock valued at $35,000 after purchasing an additional 532 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Azenta during the fourth quarter worth approximately $40,000. Farther Finance Advisors LLC raised its stake in shares of Azenta by 20.0% in the third 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. Covestor Ltd boosted its holdings in shares of Azenta by 64.2% in the 4th quarter. Covestor Ltd now owns 2,043 shares of the company’s stock worth $102,000 after acquiring an additional 799 shares in the last quarter. Finally, KBC Group NV grew its position in Azenta by 48.5% during the 4th quarter. KBC Group NV now owns 2,137 shares of the company’s stock worth $107,000 after acquiring an additional 698 shares during the last quarter. Institutional investors 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.