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

Shares of Azenta, Inc. (NASDAQ:AZTA) have earned a consensus recommendation of “Hold” from the seven research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $41.20.

AZTA has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $37.00 price objective on shares of Azenta in a report on Monday, September 14th. Weiss Ratings raised Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 26th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AZTA. Hsbc Holdings PLC purchased a new position in Azenta in the 2nd quarter worth approximately $1,108,000. Legal & General Group Plc purchased a new stake in shares of Azenta in the second quarter valued at approximately $2,453,000. Jupiter Topco LLC purchased a new stake in shares of Azenta in the second quarter valued at approximately $435,000. Bank of America Corp DE increased its holdings in shares of Azenta by 12.7% in the first quarter. Bank of America Corp DE now owns 468,046 shares of the company’s stock valued at $9,890,000 after purchasing an additional 52,757 shares during the last quarter. Finally, American Capital Management Inc. acquired a new stake in shares of Azenta in the second quarter valued at approximately $27,089,000. 99.08% of the stock is owned by institutional investors and hedge funds.

Azenta Stock Performance

NASDAQ:AZTA opened at $34.20 on Friday. The company has a fifty day moving average of $31.63 and a two-hundred day moving average of $25.78. The stock has a market capitalization of $1.50 billion, a PE ratio of -12.39 and a beta of 1.39. Azenta has a fifty-two week low of $15.93 and a fifty-two week high of $41.73.

Azenta (NASDAQ:AZTA) last announced 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. Azenta had a negative net margin of 20.63% and a positive return on equity of 1.18%. The business had revenue of $161.18 million for the quarter, compared to analyst estimates of $149.31 million.

Azenta Company Profile

Azenta, Inc (NASDAQ: AZTA) is a life sciences company that provides solutions for the management, storage, and analysis of biological samples. Its customers include pharmaceutical and biotechnology companies, academic and government research institutions, clinical research organizations, and other organizations involved in drug discovery, clinical research, and genomic analysis.

The company offers automated sample-management systems, ultra-low-temperature and cryogenic storage equipment, laboratory automation, consumables, and software for tracking and managing biological specimens.