Azenta (NASDAQ:AZTA) Hits New 12-Month Low – Time to Sell?

Shares of Azenta, Inc. (NASDAQ:AZTA) reached a new 52-week low on Thursday . The stock traded as low as $31.82 and last traded at $32.33, with a volume of 55500 shares. The stock had previously closed at $35.41.

Wall Street Analyst Weigh In

AZTA has been the topic of a number of research analyst reports. Evercore ISI boosted their target price on Azenta from $50.00 to $52.00 and gave the stock an “in-line” rating in a research report on Thursday, February 6th. TD Cowen upgraded Azenta to a “hold” rating in a research report on Thursday, February 27th. Needham & Company LLC boosted their target price on Azenta from $55.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Stephens restated an “overweight” rating and set a $60.00 price objective on shares of Azenta in a report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $58.75.

Azenta Stock Down 10.2 %

The firm has a 50 day moving average price of $43.98 and a 200-day moving average price of $46.01. The stock has a market capitalization of $1.45 billion, a PE ratio of -10.69 and a beta of 1.52.

Azenta (NASDAQ:AZTA) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (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 analysts expect that Azenta, Inc. will post 0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Azenta

Institutional investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC acquired a new stake in shares of Azenta in the fourth quarter worth approximately $47,350,000. Conestoga Capital Advisors LLC raised its position in shares of Azenta by 65.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,577,881 shares of the company’s stock valued at $78,894,000 after buying an additional 621,830 shares during the last quarter. Norges Bank purchased a new position in shares of Azenta in the fourth quarter worth about $25,403,000. Schroder Investment Management Group boosted its position in Azenta by 46.7% during the fourth quarter. Schroder Investment Management Group now owns 1,405,056 shares of the company’s stock worth $70,183,000 after acquiring an additional 447,292 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Azenta during the 4th quarter valued at about $20,469,000. 99.08% of the stock is currently 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.