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

by · The Cerbat Gem

Shares of Azenta, Inc. (NASDAQ:AZTA – Get Free Report) have been given an average recommendation of “Hold” by the eight ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target 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 the stock. Weiss Ratings upgraded shares of Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 18th. Needham & Company LLC decreased their price target on shares of Azenta from $44.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th.

Get Our Latest Stock Report on Azenta

Azenta Stock Performance

Azenta stock opened at $22.72 on Wednesday. Azenta has a fifty-two week low of $15.93 and a fifty-two week high of $41.73. The company has a market capitalization of $1.05 billion, a P/E ratio of -5.74 and a beta of 1.39. The stock has a 50-day simple moving average of $21.91 and a 200-day simple moving average of $28.38.

Azenta (NASDAQ:AZTA – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share (EPS) 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 firm had revenue of $144.80 million for the quarter, compared to analysts’ expectations of $148.47 million. During the same quarter in the prior year, the business earned $0.01 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year.

Institutional Investors Weigh In On Azenta

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Azenta by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 4,538,946 shares of the company’s stock valued at $150,965,000 after buying an additional 99,588 shares during the period. Conestoga Capital Advisors LLC lifted its stake in shares of Azenta by 116.1% in the 1st 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 period. Millennium Management LLC boosted its holdings in shares of Azenta by 9.9% in the fourth quarter. Millennium Management LLC now owns 1,866,531 shares of the company’s stock valued at $62,081,000 after acquiring an additional 167,969 shares in the last quarter. State Street Corp boosted its holdings in shares of Azenta by 1.4% in the fourth quarter. State Street Corp now owns 1,732,755 shares of the company’s stock valued at $57,631,000 after acquiring an additional 24,062 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Azenta by 16.3% during 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 period. Hedge funds and other institutional investors own 99.08% of the company’s stock.

About Azenta

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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.

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