Azenta (NASDAQ:AZTA) Shares Climb 4.4% – Still a Buy?

Azenta, Inc. (NASDAQ:AZTA)’s stock price rose 4.4% during trading on Wednesday. The stock traded as high as $41.26 and last traded at $40.81. 71,231 shares changed hands during trading, a decline of 92% from the average session volume of 937,520 shares. The stock had previously closed at $39.08.

Analyst Ratings Changes

AZTA has been the subject of a number of analyst reports. 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 lowered shares of Azenta from a “buy” rating to a “hold” rating in a report on Sunday, October 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $37.00 price objective on shares of Azenta in a research note on Monday, September 14th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $41.20.

Azenta Price Performance

The firm has a market cap of $1.78 billion, a PE ratio of -14.73 and a beta of 1.52. The stock’s fifty day moving average price is $34.65 and its 200-day moving average price is $28.47.

Azenta (NASDAQ:AZTA) last issued its earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05. The company had revenue of $161.18 million during the quarter, compared to analysts’ expectations of $149.31 million.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. acquired a new stake in Azenta in the 3rd quarter valued at about $74,000. Angeles Wealth Management LLC acquired a new position in shares of Azenta in the third quarter valued at approximately $247,000. Evergreen Capital Management LLC acquired a new stake in Azenta in the third quarter valued at about $256,000. Inspire Investing LLC acquired a new stake in Azenta in the third quarter valued at $634,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Azenta during the 3rd quarter worth approximately $3,475,000. Institutional investors and hedge funds own 99.08% of the company’s stock.

About Azenta

Azenta, Inc is a life sciences company that provides products and services for the management, storage, and analysis of biological and chemical samples. Its offerings support pharmaceutical, biotechnology, academic, and clinical research organizations throughout the sample lifecycle, from collection and processing to long-term storage and retrieval.

The company’s portfolio includes automated and ultra-low-temperature sample storage systems, laboratory automation equipment, consumables, and software for sample tracking and management.