Azenta, Inc. (NASDAQ:AZTA) Receives Average Recommendation of “Hold” from Analysts

Shares of Azenta, Inc. (NASDAQ:AZTA) have received a consensus rating of “Hold” from the six research firms that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $69.60.

Several analysts have weighed in on the stock. Stephens reissued an “equal weight” rating and issued a $70.00 price target on shares of Azenta in a research note on Thursday, February 8th. Jefferies Financial Group began coverage on Azenta in a research report on Thursday, April 4th. They issued a “hold” rating and a $64.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $75.00 target price on shares of Azenta in a report on Monday, April 8th. B. Riley upped their price target on shares of Azenta from $61.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Evercore ISI cut their price target on shares of Azenta from $64.00 to $60.00 and set an “in-line” rating on the stock in a report on Thursday, April 4th.

Azenta Stock Performance

NASDAQ AZTA opened at $55.35 on Tuesday. Azenta has a 52-week low of $36.01 and a 52-week high of $69.16. The company has a market capitalization of $3.09 billion, a P/E ratio of -178.54 and a beta of 1.51. The company has a fifty day moving average of $58.11 and a 200-day moving average of $59.22.

Azenta (NASDAQ:AZTA) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.02 earnings per share (EPS) for the quarter. Azenta had a negative net margin of 2.92% and a positive return on equity of 0.49%. The company had revenue of $154.32 million during the quarter, compared to the consensus estimate of $151.86 million. As a group, analysts forecast that Azenta will post 0.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AZTA. Norges Bank purchased a new position in Azenta during the 4th quarter valued at about $140,856,000. Dimensional Fund Advisors LP increased its stake in Azenta by 31.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,231,792 shares of the company’s stock valued at $145,382,000 after purchasing an additional 530,408 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Azenta by 78.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 1,147,753 shares of the company’s stock valued at $57,606,000 after purchasing an additional 505,412 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Azenta during the 3rd quarter valued at about $12,250,000. Finally, Bank of Nova Scotia bought a new stake in Azenta during the 3rd quarter valued at about $7,875,000. Hedge funds and other institutional investors own 99.08% of the company’s stock.

Azenta Company Profile

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.