Azenta (NASDAQ:AZTA) Stock Picked Up by Analysts at Zacks Research

Analysts at Zacks Research started coverage on shares of Azenta (NASDAQ:AZTA) in a research report issued to clients and investors on Thursday, Zacks reports. The firm set a “hold” rating on the stock.

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

Azenta Stock Up 4.1%

Shares of NASDAQ AZTA traded up $1.79 during trading on Thursday, reaching $45.65. The company had a trading volume of 1,114,037 shares, compared to its average volume of 964,725. The company’s fifty day moving average price is $36.52 and its 200-day moving average price is $28.56. Azenta has a 12 month low of $15.93 and a 12 month high of $50.06. The stock has a market cap of $2.00 billion, a P/E ratio of -12.61 and a beta of 1.47.

Azenta (NASDAQ:AZTA) last issued its quarterly earnings results on Tuesday, November 10th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.17. Azenta had a positive return on equity of 1.41% and a negative net margin of 26.86%. The company had revenue of $167.09 million during the quarter, compared to analysts’ expectations of $160.16 million. As a group, equities analysts predict that Azenta will post 0.69 earnings per share for the current year.

Institutional Trading of Azenta

A number of large investors have recently bought and sold shares of AZTA. BlackRock Inc. bought a new position in shares of Azenta in the 2nd quarter worth about $192,152,000. GW&K Investment Management LLC boosted its position 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 valued at $34,633,000 after purchasing an additional 4,187 shares in the last quarter. Allspring Global Investments Holdings LLC boosted 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 purchasing an additional 225,867 shares in the last quarter. Front Street Capital Management Inc. bought a new stake in shares of Azenta during the 2nd quarter valued at about $33,212,000. Finally, American Capital Management Inc. grew its stake in Azenta by 26.9% during the first quarter. American Capital Management Inc. now owns 1,296,024 shares of the company’s stock worth $27,385,000 after purchasing an additional 274,588 shares during the period. 99.08% of the stock is currently owned by institutional investors and hedge funds.

Key Azenta News

Here’s some of the latest news about AZTA:

• 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.