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

Azenta, Inc. (NASDAQ:AZTA) has received an average rating of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $39.50.

AZTA has been the subject of several recent research reports. Weiss Ratings cut Azenta from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 29th. Needham & Company LLC lowered their price objective on Azenta from $44.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th.

Azenta Price Performance

Shares of Azenta stock opened at $25.84 on Friday. The firm has a fifty day moving average price of $22.11 and a two-hundred day moving average price of $26.97. The company has a market cap of $1.19 billion, a PE ratio of -6.53 and a beta of 1.37. Azenta has a fifty-two week low of $15.93 and a fifty-two week high of $41.73.

Azenta (NASDAQ:AZTA) last posted its quarterly earnings data 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). Azenta had a negative net margin of 30.49% and a positive return on equity of 1.23%. The company had revenue of $144.79 million during the quarter, compared to analyst estimates of $148.47 million. During the same quarter in the previous year, the business posted $0.01 EPS. The company’s revenue was up 1.4% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its position in Azenta by 2,067.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 802 shares of the company’s stock worth $27,000 after acquiring an additional 765 shares during the last quarter. Assetmark Inc. raised its position in Azenta by 54.1% during the 4th quarter. Assetmark Inc. now owns 832 shares of the company’s stock worth $28,000 after purchasing an additional 292 shares during the last quarter. Osaic Holdings Inc. raised 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 last quarter. Rockefeller Capital Management L.P. lifted its holdings in Azenta by 98.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,392 shares of the company’s stock worth $46,000 after buying an additional 689 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Azenta by 141.2% in the 4th quarter. Van ECK Associates Corp now owns 1,585 shares of the company’s stock valued at $53,000 after buying an additional 928 shares during 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.