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

Azenta, Inc. (NASDAQ:AZTA) has been assigned a consensus rating of “Hold” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $39.50.

A number of equities analysts have recently issued reports on AZTA shares. 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 research report on Wednesday, May 6th. Weiss Ratings raised shares of Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 18th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Assetmark Inc. raised its stake in Azenta by 54.1% in the 4th quarter. Assetmark Inc. now owns 832 shares of the company’s stock worth $28,000 after purchasing an additional 292 shares in the last quarter. Osaic Holdings Inc. increased its position in Azenta by 44.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,242 shares of the company’s stock worth $39,000 after purchasing an additional 385 shares in the last quarter. CWM LLC increased its position in Azenta by 27.3% during the 4th quarter. CWM LLC now owns 1,822 shares of the company’s stock worth $61,000 after purchasing an additional 391 shares in the last quarter. Neuberger Berman Group LLC increased its position in Azenta by 6.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 7,695 shares of the company’s stock worth $221,000 after purchasing an additional 451 shares in the last quarter. Finally, Empowered Funds LLC increased its position in Azenta by 10.5% during the 1st quarter. Empowered Funds LLC now owns 6,482 shares of the company’s stock worth $225,000 after purchasing an additional 618 shares in the last quarter. Institutional investors own 99.08% of the company’s stock.

Azenta Stock Performance

AZTA stock opened at $22.59 on Wednesday. The firm has a market cap of $1.04 billion, a PE ratio of -5.70 and a beta of 1.39. Azenta has a 1 year low of $15.93 and a 1 year high of $41.73. The company has a fifty day simple moving average of $22.01 and a 200 day simple moving average of $28.14.

Azenta (NASDAQ:AZTA) last released 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). The firm had revenue of $144.80 million for the quarter, compared to analyst estimates of $148.47 million. Azenta had a positive return on equity of 1.23% and a negative net margin of 30.49%.The firm’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS.

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.