Brokerages Set Azenta, Inc. (NASDAQ:AZTA) Target Price at $41.33

Shares of Azenta, Inc. (NASDAQ:AZTA) have been assigned a consensus recommendation of “Hold” from the eight ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $41.3333.

A number of research firms have recently weighed in on AZTA. Needham & Company LLC reissued a “buy” rating and issued a $44.00 price objective on shares of Azenta in a research report on Tuesday, March 17th. Evercore lowered their price objective on Azenta from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, February 5th. Zacks Research raised Azenta from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Wall Street Zen cut Azenta from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Azenta in a research report on Friday, March 27th.

Institutional Trading of Azenta

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caprock Group LLC acquired a new stake in Azenta during the 3rd quarter worth about $1,640,000. Assenagon Asset Management S.A. lifted its position in Azenta by 249.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 96,602 shares of the company’s stock worth $3,213,000 after acquiring an additional 68,955 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Azenta during the 4th quarter worth about $36,803,000. Congress Asset Management Co. acquired a new stake in Azenta during the 4th quarter worth about $42,755,000. Finally, Exchange Traded Concepts LLC lifted its position in Azenta by 5.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 440,835 shares of the company’s stock worth $12,661,000 after acquiring an additional 23,238 shares during the period. Institutional investors and hedge funds own 99.08% of the company’s stock.

Azenta Price Performance

Azenta stock opened at $25.11 on Tuesday. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -18.60 and a beta of 1.47. Azenta has a 1-year low of $19.87 and a 1-year high of $41.73. The business has a fifty day moving average price of $24.10 and a 200-day moving average price of $30.52.

Azenta (NASDAQ:AZTA) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). The business had revenue of $148.64 million during the quarter, compared to analyst estimates of $146.89 million. Azenta had a positive return on equity of 1.43% and a negative net margin of 10.34%.The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS.

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.