Azenta (NASDAQ:AZTA) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Azenta from “Hold” to “Buy,” while the broader analyst consensus remains “Hold” with a $41.20 target price.
• Azenta shares opened at $37.72 after rising 4.8%; the company recently beat quarterly estimates, reporting EPS of $0.16 versus $0.11 expected and revenue of $161.18 million.
• Institutional ownership is high at 99.08%, with BlackRock, Conestoga Capital Advisors, and other large investors recently building or initiating positions.

Azenta (NASDAQ:AZTA - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other research firms have also commented on AZTA. Weiss Ratings raised shares of Azenta from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, August 26th. Needham & Company LLC reissued a "buy" rating and set a $37.00 target price on shares of Azenta in a research note on Monday, September 14th. Four 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 company's stock. According to data from MarketBeat.com, Azenta presently has a consensus rating of "Hold" and a consensus target price of $41.20.

Azenta Stock Up 4.8%

Shares of Azenta stock opened at $37.72 on Friday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -13.67 and a beta of 1.52. Azenta has a twelve month low of $15.93 and a twelve month high of $46.41. The company's fifty day moving average is $33.60 and its 200 day moving average is $26.89.

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

Institutional Investors Weigh In On Azenta

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Azenta during the 2nd quarter valued at $192,152,000. Conestoga Capital Advisors LLC grew its holdings in Azenta by 116.1% in the first quarter. Conestoga Capital Advisors LLC now owns 2,844,546 shares of the company's stock worth $60,105,000 after purchasing an additional 1,528,145 shares during the period. Front Street Capital Management Inc. acquired a new stake in Azenta in the second quarter worth $33,212,000. American Capital Management Inc. bought a new stake in Azenta in the second quarter valued at $27,089,000. Finally, Bank of America Corp DE bought a new stake in Azenta in the second quarter valued at $17,058,000. 99.08% of the stock is currently owned by institutional investors.

Azenta Company Profile

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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