Azenta, Inc. (NASDAQ:AZTA) Stock Has Consensus Price Target of $41.20

Shares of Azenta, Inc. (NASDAQ:AZTA) have been assigned a consensus rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $41.20.

A number of research analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $37.00 price objective on shares of Azenta in a research note on Monday, September 14th. Wall Street Zen lowered Azenta from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Weiss Ratings upgraded Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 26th.

Azenta Stock Performance

AZTA opened at $34.84 on Tuesday. The stock’s 50 day moving average price is $34.21 and its 200-day moving average price is $27.59. Azenta has a 52-week low of $15.93 and a 52-week high of $46.41. The stock has a market capitalization of $1.53 billion, a PE ratio of -12.62 and a beta of 1.52.

Azenta (NASDAQ:AZTA) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $149.31 million.

Institutional Investors Weigh In On Azenta

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new stake in Azenta in the second quarter valued at approximately $2,453,000. Hsbc Holdings PLC acquired a new position in shares of Azenta during the second quarter valued at about $1,108,000. Jupiter Topco LLC purchased a new position in shares of Azenta in the 2nd quarter valued at approximately $435,000. Meros Investment Management LP purchased a new position in shares of Azenta in the second quarter worth $5,625,399. Finally, Man Group plc acquired a new stake in shares of Azenta during the second quarter worth $9,402,000. 99.08% of the stock is currently owned by hedge funds and other institutional investors.

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.