Azenta, Inc. (NASDAQ:AZTA) Receives $39.50 Consensus Target Price from Brokerages

Shares of Azenta, Inc. (NASDAQ:AZTA) have been assigned a consensus rating of “Hold” from the eight research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $39.50.

Several analysts recently commented on the stock. Weiss Ratings raised shares of Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 18th. Needham & Company LLC cut their price objective on shares of Azenta from $44.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th.

Institutional Trading of Azenta

A number of institutional investors have recently made changes to their positions in the stock. Conestoga Capital Advisors LLC increased its position in Azenta by 116.1% during the first quarter. Conestoga Capital Advisors LLC now owns 2,844,546 shares of the company’s stock valued at $60,105,000 after acquiring an additional 1,528,145 shares during the last quarter. Congress Asset Management Co. purchased a new stake in shares of Azenta during the fourth quarter valued at $42,755,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Azenta during the fourth quarter valued at $36,803,000. Front Street Capital Management Inc. boosted its stake in shares of Azenta by 211.7% during the first quarter. Front Street Capital Management Inc. now owns 889,009 shares of the company’s stock valued at $18,785,000 after purchasing an additional 603,757 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Azenta by 41.6% during the third quarter. Millennium Management LLC now owns 1,698,562 shares of the company’s stock valued at $48,783,000 after purchasing an additional 499,216 shares during the period. Hedge funds and other institutional investors own 99.08% of the company’s stock.

Azenta Price Performance

Shares of Azenta stock opened at $22.59 on Wednesday. The company has a 50-day moving average of $22.01 and a 200 day moving average of $28.20. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -5.70 and a beta of 1.39. Azenta has a 1 year low of $15.93 and a 1 year high of $41.73.

Azenta (NASDAQ:AZTA) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.16). Azenta had a positive return on equity of 1.23% and a negative net margin of 30.49%.The business had revenue of $144.80 million during the quarter, compared to the consensus estimate of $148.47 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. The firm’s revenue was up 1.4% compared to the same quarter last year.

Azenta Company Profile

Azenta, Inc (NASDAQ: AZTA) is a life sciences technology company specializing in sample management, cryogenic storage and genomic services for research and clinical applications. Formerly the Life Sciences division of Brooks Automation, Azenta provides integrated solutions that enable customers to store, track and analyze biological samples with high levels of automation, data integrity and efficiency. Its offerings span automated storage systems, biorepository management software and end‐to‐end sample tracking workflows.

In addition to hardware and informatics platforms for sample storage, Azenta’s Genomics business delivers next‐generation sequencing (NGS), DNA synthesis, and molecular biology services.