Azenta, Inc. (NASDAQ:AZTA) Given Average Recommendation of “Hold” by Brokerages

Azenta, Inc. (NASDAQ:AZTA) has been assigned an average rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $41.20.

Several analysts recently commented on AZTA shares. Needham & Company LLC boosted their price target on Azenta from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday.

Hedge Funds Weigh In On Azenta

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Azenta in the 2nd quarter worth approximately $192,152,000. Conestoga Capital Advisors LLC grew its position in shares of Azenta by 116.1% in the first quarter. Conestoga Capital Advisors LLC now owns 2,844,546 shares of the company’s stock valued at $60,105,000 after purchasing an additional 1,528,145 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Azenta by 2,393.5% in the second quarter. California State Teachers Retirement System now owns 1,389,309 shares of the company’s stock valued at $35,455,000 after purchasing an additional 1,333,591 shares in the last quarter. Front Street Capital Management Inc. acquired a new stake in shares of Azenta in the second quarter valued at approximately $33,212,000. Finally, American Capital Management Inc. acquired a new stake in shares of Azenta in the second quarter valued at approximately $27,089,000. 99.08% of the stock is owned by hedge funds and other institutional investors.

Azenta Price Performance

AZTA opened at $32.95 on Monday. Azenta has a twelve month low of $15.93 and a twelve month high of $41.73. The company has a 50-day moving average price of $28.93 and a 200 day moving average price of $25.16. The company has a market cap of $1.44 billion, a PE ratio of -11.94 and a beta of 1.37.

Azenta (NASDAQ:AZTA) last posted its quarterly earnings data 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 positive return on equity of 1.18% and a negative net margin of 20.63%.The company had revenue of $161.18 million for the quarter, compared to analysts’ expectations of $149.31 million.

Azenta Company Profile

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.