Azenta's (AZTA) "Sell (D-)" Rating Reiterated at Weiss Ratings

Key Points

• Analysts at Weiss Ratings have reiterated their "sell (D-)" rating for Azenta (AZTA), indicating ongoing concerns about the company's performance.
• The stock has received mixed ratings from six analysts, with two ratings as "Buy," three as "Hold," and one as "Sell," leading to a consensus rating of "Hold" and a price target of $35.75.
• Azenta reported $0.19 earnings per share for the last quarter, surpassing estimates but with revenue falling short at $143.94 million compared to expectations of $149.64 million.

Azenta (NASDAQ:AZTA - Get Free Report)'s stock had its "sell (d-)" rating reissued by analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

AZTA has been the subject of several other research reports. Stephens began coverage on shares of Azenta in a research report on Tuesday, July 22nd. They set an "equal weight" rating and a $35.00 price objective for the company. Evercore ISI set a $33.00 price objective on shares of Azenta and gave the stock an "in-line" rating in a research note on Tuesday, August 5th. Finally, Raymond James Financial raised shares of Azenta from a "market perform" rating to an "outperform" rating and set a $35.00 price objective on the stock in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $35.75.

Azenta Trading Down 0.5%

AZTA traded down $0.17 on Friday, reaching $32.22. The company had a trading volume of 366,289 shares, compared to its average volume of 719,317. The company has a fifty day moving average of $30.54 and a 200-day moving average of $29.68. The company has a market capitalization of $1.48 billion, a P/E ratio of -13.31 and a beta of 1.62. Azenta has a one year low of $23.91 and a one year high of $55.63.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in shares of Azenta by 126.8% in the third quarter. SG Americas Securities LLC now owns 17,551 shares of the company's stock worth $504,000 after buying an additional 9,811 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in shares of Azenta by 51.4% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 32,400 shares of the company's stock worth $931,000 after buying an additional 11,000 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Azenta by 5.6% in the third quarter. Exchange Traded Concepts LLC now owns 440,835 shares of the company's stock worth $12,661,000 after buying an additional 23,238 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Azenta in the third quarter worth about $794,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Azenta by 12.7% in the third quarter. GAMMA Investing LLC now owns 3,884 shares of the company's stock worth $112,000 after buying an additional 438 shares during the period. 99.08% of the stock is currently 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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