Azenta, Inc. (NASDAQ:AZTA) Stock Has Average Price Target of $41.20 According to Brokerages

Key Points

• Analysts maintain a consensus “Hold” rating on Azenta, with four buys, two holds, and one sell among seven firms. The average 12-month price target is $41.20, compared with the stock’s opening price of $37.77.
• Azenta’s latest quarterly results exceeded expectations, reporting EPS of $0.16 versus the $0.11 estimate and revenue of $161.18 million versus the $149.31 million consensus.
• Institutional ownership remains very high at 99.08%, with several investment firms increasing their positions in the company.

Azenta, Inc. (NASDAQ:AZTA - Get Free Report) has received a consensus recommendation of "Hold" from the seven ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $41.20.

Several research firms recently weighed in on AZTA. Weiss Ratings raised Azenta from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, August 26th. Needham & Company LLC reiterated a "buy" rating and set a $37.00 target price on shares of Azenta in a research report on Monday, September 14th. Finally, Wall Street Zen raised Azenta from a "hold" rating to a "buy" rating in a report on Saturday.

Azenta Trading Up 0.1%

Shares of Azenta stock opened at $37.77 on Tuesday. The company has a 50-day moving average of $33.76 and a two-hundred day moving average of $27.05. Azenta has a 12-month low of $15.93 and a 12-month high of $46.41. The stock has a market cap of $1.65 billion, a PE ratio of -13.68 and a beta of 1.52.

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, beating analysts' consensus estimates of $0.11 by $0.05. The company had revenue of $161.18 million during the quarter, compared to the consensus estimate 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

Several hedge funds and other institutional investors have recently made changes to their positions in AZTA. Green Alpha Advisors LLC increased its stake in Azenta by 3.5% in the third quarter. Green Alpha Advisors LLC now owns 9,187 shares of the company's stock valued at $321,000 after purchasing an additional 313 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in Azenta by 98.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,392 shares of the company's stock worth $46,000 after buying an additional 689 shares during the last quarter. Kera Capital Partners Inc. boosted its stake in Azenta by 7.7% in the 4th quarter. Kera Capital Partners Inc. now owns 11,034 shares of the company's stock worth $367,000 after buying an additional 787 shares during the last quarter. KBC Group NV boosted its stake in Azenta by 102.2% in the 1st quarter. KBC Group NV now owns 2,449 shares of the company's stock worth $52,000 after buying an additional 1,238 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Azenta by 43.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,454 shares of the company's stock valued at $155,000 after buying an additional 1,357 shares during the period. Institutional investors and hedge funds own 99.08% of the company's stock.

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.

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.