Azenta, Inc. (NASDAQ:AZTA) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Azenta, Inc. has received a consensus rating of "Hold" from six analysts, with one sell recommendation, three hold ratings, and two buy recommendations.
• The company's stock recently traded at $32.45, with an average price target among analysts set at $35.75.
• Azenta reported earnings of $0.19 per share for the last quarter, exceeding estimates but generating a revenue of $143.94 million, which fell short of expectations.

Shares of Azenta, Inc. (NASDAQ:AZTA - Get Free Report) have earned a consensus rating of "Hold" from the six analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $35.75.

A number of brokerages have issued reports on AZTA. Stephens assumed coverage on Azenta in a research report on Tuesday, July 22nd. They set an "equal weight" rating and a $35.00 price target for the company. Raymond James Financial raised shares of Azenta from a "market perform" rating to an "outperform" rating and set a $35.00 target price on the stock in a research note on Wednesday, August 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Azenta in a report on Saturday, September 27th. Finally, Evercore ISI set a $33.00 price objective on shares of Azenta and gave the company an "in-line" rating in a report on Tuesday, August 5th.

Azenta Stock Performance

Shares of Azenta stock traded up $0.96 on Friday, reaching $32.45. 526,965 shares of the company were exchanged, compared to its average volume of 649,601. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -13.41 and a beta of 1.62. The company's 50-day moving average is $30.39 and its two-hundred day moving average is $30.01. Azenta has a 1-year low of $23.91 and a 1-year high of $55.63.

Azenta (NASDAQ:AZTA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.06. The company had revenue of $143.94 million during the quarter, compared to the consensus estimate of $149.64 million. Azenta had a negative net margin of 18.45% and a positive return on equity of 1.35%. The company's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. As a group, sell-side analysts forecast that Azenta will post 0.53 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Mechanics Financial Corp grew its holdings in Azenta by 77.6% during the second quarter. Mechanics Financial Corp now owns 870 shares of the company's stock worth $27,000 after acquiring an additional 380 shares during the period. Farther Finance Advisors LLC lifted its stake in Azenta by 788.1% during the first quarter. Farther Finance Advisors LLC now owns 968 shares of the company's stock valued at $33,000 after purchasing an additional 859 shares during the last quarter. Osaic Holdings Inc. lifted its stake in Azenta by 44.9% during the second quarter. Osaic Holdings Inc. now owns 1,242 shares of the company's stock valued at $39,000 after purchasing an additional 385 shares during the last quarter. CWM LLC lifted its stake in Azenta by 113.5% during the second quarter. CWM LLC now owns 1,898 shares of the company's stock valued at $58,000 after purchasing an additional 1,009 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Azenta by 29.1% in the second quarter. Allworth Financial LP now owns 2,050 shares of the company's stock valued at $63,000 after buying an additional 462 shares in the last quarter. 99.08% of the stock is owned by institutional investors and hedge funds.

About Azenta

Azenta, Inc provides biological and chemical compound sample exploration and management solutions for the life sciences market in North America, Africa, China, the United Kingdom, rest of Europe, the Asia Pacific, and internationally. The company operates in two reportable segments, Life Sciences Products and Life Sciences Services.

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