Azenta (NASDAQ:AZTA) Now Covered by Zacks Research

Zacks Research assumed coverage on shares of Azenta (NASDAQ:AZTA) in a research report report published on Thursday,Zacks reports. The firm issued a hold rating on the stock.

Other research analysts also recently issued research reports about the stock. Wall Street Zen upgraded shares of Azenta from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings upgraded shares of Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 26th. Needham & Company LLC lifted their price target on shares of Azenta from $37.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Jefferies Financial Group upped their price objective on shares of Azenta from $44.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.60.

Azenta Trading Up 4.1%

NASDAQ AZTA traded up $1.79 during trading hours on Thursday, hitting $45.65. 1,114,037 shares of the company’s stock were exchanged, compared to its average volume of 964,725. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -12.61 and a beta of 1.47. The stock has a 50-day simple moving average of $36.52 and a 200 day simple moving average of $28.56. Azenta has a 1-year low of $15.93 and a 1-year high of $50.06.

Azenta (NASDAQ:AZTA) last issued its quarterly earnings results on Tuesday, November 10th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.17. The firm had revenue of $167.09 million for the quarter, compared to analyst estimates of $160.16 million. Azenta had a positive return on equity of 1.41% and a negative net margin of 26.86%. On average, sell-side analysts anticipate that Azenta will post 0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Azenta

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Azenta in the 2nd quarter worth approximately $192,152,000. Allspring Global Investments Holdings LLC lifted its position in shares of Azenta by 16.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,613,914 shares of the company’s stock valued at $34,183,000 after buying an additional 225,867 shares during the last quarter. Front Street Capital Management Inc. purchased a new position in shares of Azenta during the 2nd quarter valued at $33,212,000. American Capital Management Inc. grew its stake in shares of Azenta by 26.9% during the 1st quarter. American Capital Management Inc. now owns 1,296,024 shares of the company’s stock worth $27,385,000 after acquiring an additional 274,588 shares during the period. Finally, GW&K Investment Management LLC grew its stake in shares of Azenta by 0.4% during the 3rd quarter. GW&K Investment Management LLC now owns 992,616 shares of the company’s stock worth $34,633,000 after acquiring an additional 4,187 shares during the period. Institutional investors own 99.08% of the company’s stock.

Top Azenta Stories

These are some of the AZTA stories that stood out recently:

• Positive Sentiment: Better-than-expected quarterly results helped fuel buying: Azenta reported earnings of $0.28 per share versus analysts’ $0.11 estimate, and revenue of $167.1 million, above the $160.2 million consensus. Shares subsequently reached a 52-week high. Article: Azenta Reaches New 52-Week High Following Better-Than-Expected Earnings
• Neutral Sentiment: After the sharp post-earnings advance, some investors took profits, contributing to a pullback; this may reflect near-term trading rather than a change in the company’s fundamentals. Article: Azenta Dips as Investors Book Profits
• Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims tied to allegations that Azenta may have issued materially misleading business information. The investigation is an allegation, not a finding of wrongdoing, but may weigh on sentiment. Article: Rosen Law Firm Investor Notice

Azenta Company Profile

Azenta, Inc. provides products and services for life sciences research and the management of biological samples. Its offerings include automated sample storage systems, laboratory automation equipment, consumables, and software used to track and manage samples. The company also provides genomic services through GENEWIZ, including sequencing and other genetic analysis services for researchers and organizations in the life sciences and pharmaceutical industries. Azenta was formed in 2021 when Brooks Automation separated its life sciences business and adopted the Azenta name.