Azenta (NASDAQ:AZTA) Stock Dropped to Hold by Wall Street Zen

Key Points

• Wall Street Zen downgraded Azenta from “buy” to “hold,” while analysts overall have a consensus “hold” rating and an average price target of $41.20.
• Azenta shares opened at $34.09, with a market capitalization of about $1.49 billion and a 52-week range of $15.93 to $46.41.
• The company exceeded quarterly expectations, reporting $0.16 in earnings per share versus the $0.11 consensus and revenue of $161.18 million versus $149.31 million expected; institutional investors own 99.08% of its stock.

Azenta (NASDAQ:AZTA - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Several other research analysts have also recently issued reports on AZTA. Needham & Company LLC reissued a "buy" rating and issued a $37.00 price objective on shares of Azenta in a research note on Monday, September 14th. Weiss Ratings upgraded Azenta from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, August 26th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $41.20.

Azenta Price Performance

Shares of AZTA opened at $34.09 on Friday. The firm has a market cap of $1.49 billion, a P/E ratio of -12.35 and a beta of 1.52. Azenta has a 1 year low of $15.93 and a 1 year high of $46.41. The company has a 50 day simple moving average of $34.18 and a two-hundred day simple moving average of $27.44.

Azenta (NASDAQ:AZTA - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.05. The business had revenue of $161.18 million for the quarter, compared to the consensus estimate of $149.31 million. Azenta had a negative net margin of 20.63% and a positive return on equity of 1.18%.

Institutional Investors Weigh In On Azenta

Several large investors have recently modified their holdings of AZTA. BlackRock Inc. bought a new position in Azenta in the second quarter worth about $192,152,000. Conestoga Capital Advisors LLC lifted its position in shares of Azenta by 116.1% during the first quarter. Conestoga Capital Advisors LLC now owns 2,844,546 shares of the company's stock valued at $60,105,000 after buying an additional 1,528,145 shares during the last quarter. Front Street Capital Management Inc. purchased a new stake in shares of Azenta during the second quarter valued at about $33,212,000. American Capital Management Inc. bought a new stake in shares of Azenta in the 2nd quarter valued at about $27,089,000. Finally, Bank of America Corp DE bought a new stake in shares of Azenta in the 2nd quarter valued at about $17,058,000. Institutional investors own 99.08% of the company's stock.

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.

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