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

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

AZTA has been the topic of several other research reports. Stephens reissued an “overweight” rating and issued a $60.00 target price on shares of Azenta in a research note on Thursday, January 2nd. Needham & Company LLC increased their target price on shares of Azenta from $55.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Evercore ISI increased their target price on shares of Azenta from $50.00 to $52.00 and gave the company an “in-line” rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $58.75.

Azenta Trading Up 1.6 %

Shares of NASDAQ AZTA opened at $43.62 on Thursday. The firm has a 50 day moving average of $50.17 and a 200 day moving average of $47.75. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -14.64 and a beta of 1.47. Azenta has a 12-month low of $38.82 and a 12-month high of $67.77.

Azenta (NASDAQ:AZTA) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share 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%. Sell-side analysts predict that Azenta will post 0.53 EPS for the current year.

Hedge Funds Weigh In On Azenta

Several hedge funds and other institutional investors have recently modified their holdings of AZTA. Picton Mahoney Asset Management raised its position in Azenta by 305.7% during the 4th quarter. Picton Mahoney Asset Management now owns 706 shares of the company’s stock worth $35,000 after buying an additional 532 shares during the last quarter. Headlands Technologies LLC purchased a new position in Azenta during the 4th quarter worth approximately $40,000. Farther Finance Advisors LLC raised its position in Azenta by 20.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company’s stock worth $74,000 after buying an additional 256 shares during the last quarter. Covestor Ltd raised its position in Azenta by 64.2% during the 4th quarter. Covestor Ltd now owns 2,043 shares of the company’s stock worth $102,000 after buying an additional 799 shares during the last quarter. Finally, KBC Group NV raised 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 buying an additional 698 shares during the last quarter. 99.08% of the stock is owned by hedge funds and other institutional investors.

Azenta Company Profile

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.