Azenta, Inc. (NASDAQ:AZTA) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Azenta has a consensus “Hold” rating from seven analysts: four recommend buying, two advise holding, and one recommends selling. The average 12-month price target is $41.20.
• Institutional ownership is substantial at 99.08%, with several investors significantly increasing their stakes during the second quarter.
• Azenta exceeded quarterly expectations, reporting EPS of $0.16 versus the $0.11 estimate and revenue of $161.18 million versus the $149.31 million consensus forecast. Shares opened at $37.40, near their one-year high of $41.73.

Azenta, Inc. (NASDAQ:AZTA - Get Free Report) has been given an average recommendation of "Hold" by the seven brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $41.20.

A number of equities analysts have recently weighed in on AZTA shares. Needham & Company LLC upped their price target on shares of Azenta from $33.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Weiss Ratings downgraded shares of Azenta from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, August 11th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its stake in shares of Azenta by 2,393.5% during the 2nd quarter. California State Teachers Retirement System now owns 1,389,309 shares of the company's stock worth $35,455,000 after purchasing an additional 1,333,591 shares during the period. Kerrisdale Advisers LLC grew its position in shares of Azenta by 1,419.5% in the second quarter. Kerrisdale Advisers LLC now owns 290,682 shares of the company's stock valued at $7,418,000 after purchasing an additional 271,552 shares during the period. Moore Capital Management LP purchased a new stake in shares of Azenta in the second quarter valued at $1,569,000. Hsbc Holdings PLC increased its stake in Azenta by 316.0% in the second quarter. Hsbc Holdings PLC now owns 44,004 shares of the company's stock valued at $1,108,000 after purchasing an additional 33,426 shares during the last quarter. Finally, Corient Private Wealth LP purchased a new position in Azenta during the second quarter worth about $489,000. 99.08% of the stock is currently owned by hedge funds and other institutional investors.

Azenta Price Performance

Shares of NASDAQ AZTA opened at $37.40 on Monday. The stock has a fifty day moving average price of $27.92 and a 200 day moving average price of $25.06. Azenta has a 1-year low of $15.93 and a 1-year high of $41.73. The company has a market cap of $1.64 billion, a PE ratio of -13.55 and a beta of 1.36.

Azenta (NASDAQ:AZTA - Get Free Report) last posted its quarterly 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 negative net margin of 20.63% and a positive return on equity of 1.18%. The firm had revenue of $161.18 million during the quarter, compared to analysts' expectations of $149.31 million.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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