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

Key Points

• Analysts rate Azenta “Hold” overall: Of seven analysts, four recommend buying, two recommend holding, and one recommends selling. The average 12-month price target is $41.20 versus the stock’s reported opening price of $33.63.
• Azenta’s latest quarterly results exceeded expectations, with EPS of $0.16 versus the $0.11 consensus and revenue of $161.18 million versus estimates of $149.31 million. However, the company reported a negative net margin of 20.63%.
• Institutional investors own approximately 99.08% of Azenta’s outstanding shares, with several firms recently initiating or increasing positions.

Azenta, Inc. (NASDAQ:AZTA - Get Free Report) has been assigned a consensus rating of "Hold" from the seven analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $41.20.

AZTA has been the topic of several research reports. Needham & Company LLC reissued a "buy" rating and set a $37.00 price objective on shares of Azenta in a research note on Monday. Weiss Ratings upgraded shares of Azenta from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, August 26th.

Azenta Stock Up 1.3%

Shares of AZTA stock opened at $33.63 on Friday. The business's fifty day moving average is $30.84 and its 200 day moving average is $25.46. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -12.18 and a beta of 1.39. Azenta has a twelve month low of $15.93 and a twelve month high of $41.73.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. State of Wyoming purchased a new position in shares of Azenta in the first quarter worth $38,000. Integrated Wealth Concepts LLC bought a new position in Azenta during the 2nd quarter valued at about $39,000. Rockefeller Capital Management L.P. boosted its holdings in shares of Azenta by 98.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,392 shares of the company's stock valued at $46,000 after acquiring an additional 689 shares during the last quarter. Allworth Financial LP bought a new position in Azenta during the second quarter valued at approximately $48,000. Finally, KBC Group NV boosted its holdings in Azenta by 102.2% in the first quarter. KBC Group NV now owns 2,449 shares of the company's stock worth $52,000 after purchasing an additional 1,238 shares during the last quarter. Hedge funds and other institutional investors own 99.08% of the company's stock.

About Azenta

Azenta, Inc NASDAQ: AZTA is a life sciences company that provides solutions for the management, storage, and analysis of biological samples. Its customers include pharmaceutical and biotechnology companies, academic and government research institutions, clinical research organizations, and other organizations involved in drug discovery, clinical research, and genomic analysis.

The company offers automated sample-management systems, ultra-low-temperature and cryogenic storage equipment, laboratory automation, consumables, and software for tracking and managing biological specimens.

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