Azenta, Inc. (NASDAQ:AZTA) Receives Average Rating of “Hold” from Analysts

Shares of Azenta, Inc. (NASDAQ:AZTA) have received a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $39.50.

Several research analysts have recently issued reports on AZTA shares. Weiss Ratings upgraded shares of Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 18th. Needham & Company LLC lowered their target price on shares of Azenta from $44.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, May 6th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its holdings in shares of Azenta by 2,067.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 802 shares of the company’s stock valued at $27,000 after buying an additional 765 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Azenta by 54.1% in the fourth quarter. Assetmark Inc. now owns 832 shares of the company’s stock valued at $28,000 after buying an additional 292 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Azenta by 249.5% in the third quarter. Bessemer Group Inc. now owns 1,017 shares of the company’s stock valued at $29,000 after buying an additional 726 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of Azenta by 44.9% in the second quarter. Osaic Holdings Inc. now owns 1,242 shares of the company’s stock valued at $39,000 after buying an additional 385 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Azenta by 98.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,392 shares of the company’s stock valued at $46,000 after buying an additional 689 shares during the last quarter. 99.08% of the stock is owned by hedge funds and other institutional investors.

Azenta Stock Up 0.8%

NASDAQ AZTA opened at $23.13 on Wednesday. Azenta has a 52 week low of $15.93 and a 52 week high of $41.73. The stock has a market capitalization of $1.07 billion, a PE ratio of -5.84 and a beta of 1.39. The firm has a 50 day moving average of $22.03 and a two-hundred day moving average of $27.94.

Azenta (NASDAQ:AZTA) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.04) 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 firm had revenue of $144.80 million for the quarter, compared to analyst estimates of $148.47 million. During the same quarter last year, the firm earned $0.01 EPS. The company’s revenue was up 1.4% on a year-over-year basis.

About Azenta

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.