Azenta, Inc. (NASDAQ:AZTA) Given Consensus Rating of “Hold” by Brokerages

Azenta, Inc. (NASDAQ:AZTA) has received a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $39.50.

A number of research firms recently weighed in on AZTA. Needham & Company LLC lowered 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. Weiss Ratings downgraded shares of Azenta from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 29th.

Azenta Stock Up 3.7%

NASDAQ AZTA opened at $25.42 on Friday. The firm has a market cap of $1.17 billion, a P/E ratio of -6.42 and a beta of 1.37. Azenta has a 52-week low of $15.93 and a 52-week high of $41.73. The business’s 50-day moving average price is $22.12 and its 200 day moving average price is $26.65.

Azenta (NASDAQ:AZTA) last announced its earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.16). The company had revenue of $144.79 million during the quarter, compared to analysts’ expectations of $148.47 million. Azenta had a negative net margin of 30.49% and a positive return on equity of 1.23%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 earnings per share.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Assetmark Inc. lifted its position in Azenta by 54.1% in the fourth quarter. Assetmark Inc. now owns 832 shares of the company’s stock valued at $28,000 after purchasing an additional 292 shares during the period. Osaic Holdings Inc. increased its position in Azenta by 44.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,242 shares of the company’s stock worth $39,000 after purchasing an additional 385 shares during the period. CWM LLC increased its position in Azenta by 27.3% during the 4th quarter. CWM LLC now owns 1,822 shares of the company’s stock worth $61,000 after purchasing an additional 391 shares during the period. Neuberger Berman Group LLC raised its stake in shares of Azenta by 6.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 7,695 shares of the company’s stock worth $221,000 after buying an additional 451 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Azenta by 10.5% during the 1st quarter. Empowered Funds LLC now owns 6,482 shares of the company’s stock worth $225,000 after buying an additional 618 shares in the last quarter. 99.08% of the stock is currently owned by institutional investors and hedge funds.

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.