Azenta (NASDAQ:AZTA) Stock Rating Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Azenta (NASDAQ:AZTA) from a buy rating to a hold rating in a report published on Sunday,Wall Street Zen reports.

A number of other analysts also recently weighed in on AZTA. Needham & Company LLC reaffirmed a “buy” rating and issued a $37.00 target price on shares of Azenta in a research report on Monday, September 14th. Weiss Ratings raised shares of Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 26th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $41.20.

Azenta Price Performance

Shares of AZTA stock opened at $34.09 on Friday. The business’s fifty day moving average is $34.18 and its 200 day moving average is $27.49. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -12.35 and a beta of 1.52. Azenta has a twelve month low of $15.93 and a twelve month high of $46.41.

Azenta (NASDAQ:AZTA) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. The business had revenue of $161.18 million during the quarter, compared to the consensus estimate of $149.31 million. Azenta had a positive return on equity of 1.18% and a negative net margin of 20.63%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AZTA. BlackRock Inc. purchased a new position in Azenta during the second quarter valued at $192,152,000. Conestoga Capital Advisors LLC grew its stake in shares of Azenta by 116.1% in the first quarter. Conestoga Capital Advisors LLC now owns 2,844,546 shares of the company’s stock worth $60,105,000 after acquiring an additional 1,528,145 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Azenta by 16.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,613,914 shares of the company’s stock worth $34,183,000 after acquiring an additional 225,867 shares during the last quarter. Front Street Capital Management Inc. purchased a new stake in shares of Azenta in the second quarter worth $33,212,000. Finally, American Capital Management Inc. grew its stake in shares of Azenta by 26.9% in the first 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 last quarter. Institutional investors own 99.08% of the company’s stock.

About Azenta

Azenta, Inc (NASDAQ: AZTA) 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 and biotechnology companies, academic and government research institutions, clinical research organizations, and other laboratories.

The company’s products include automated sample storage systems, laboratory automation equipment, sample-management software, consumables, and cold-storage solutions designed to preserve and track biological materials.