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

Azenta, Inc. (NASDAQ:AZTA) has received an average rating of “Hold” from the eight brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $39.50.

A number of research firms have recently weighed in on AZTA. Needham & Company LLC reduced their target price on shares of Azenta from $44.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Evercore reduced their target price on shares of Azenta from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, February 5th. TD Cowen restated a “hold” rating on shares of Azenta in a report on Wednesday, February 4th. Wall Street Zen downgraded shares of Azenta from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Zacks Research upgraded shares of Azenta from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th.

Azenta Stock Up 5.2%

Azenta stock opened at $18.57 on Friday. The company’s 50-day moving average price is $21.71 and its 200-day moving average price is $29.17. Azenta has a twelve month low of $15.93 and a twelve month high of $41.73. The company has a market cap of $855.89 million, a PE ratio of -4.69 and a beta of 1.43.

Azenta (NASDAQ:AZTA) last posted its earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.16). Azenta had a positive return on equity of 1.23% and a negative net margin of 30.49%.The business had revenue of $144.80 million during the quarter, compared to the consensus estimate of $148.47 million. During the same quarter last year, the firm earned $0.01 earnings per share. The business’s quarterly revenue was up 1.4% on a year-over-year basis.

Hedge Funds Weigh In On Azenta

Several hedge funds have recently added to or reduced their stakes in AZTA. Integrated Wealth Concepts LLC bought a new position in Azenta during the 1st quarter valued at about $435,000. Millennium Management LLC grew its holdings in Azenta by 214.8% during the 1st quarter. Millennium Management LLC now owns 340,580 shares of the company’s stock valued at $11,798,000 after purchasing an additional 232,405 shares during the last quarter. Empowered Funds LLC grew its holdings in Azenta by 10.5% during the 1st quarter. Empowered Funds LLC now owns 6,482 shares of the company’s stock valued at $225,000 after purchasing an additional 618 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Azenta by 17.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 201,337 shares of the company’s stock valued at $6,974,000 after purchasing an additional 30,492 shares during the last quarter. Finally, Creative Planning bought a new position in Azenta during the 2nd quarter valued at about $270,000. 99.08% of the stock is currently owned by institutional investors.

About Azenta

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.