Azenta, Inc. (NASDAQ:AZTA) Receives $39.50 Consensus Target Price from Analysts

Shares of Azenta, Inc. (NASDAQ:AZTA) have received an average rating of “Hold” from the eight research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $39.50.

A number of analysts recently weighed in on the stock. Weiss Ratings cut shares of Azenta from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 29th. Needham & Company LLC cut their price objective on Azenta from $44.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th.

Institutional Investors Weigh In On Azenta

Hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its holdings in Azenta by 2,067.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 802 shares of the company’s stock worth $27,000 after acquiring an additional 765 shares during the period. Assetmark Inc. lifted its position in shares of Azenta by 54.1% during the fourth quarter. Assetmark Inc. now owns 832 shares of the company’s stock worth $28,000 after purchasing an additional 292 shares in the last quarter. State of Wyoming acquired a new position in shares of Azenta during the first quarter worth $38,000. Osaic Holdings Inc. boosted its stake in shares of Azenta by 44.9% in the second quarter. Osaic Holdings Inc. now owns 1,242 shares of the company’s stock valued at $39,000 after purchasing an additional 385 shares during the period. Finally, Rockefeller Capital Management L.P. grew its holdings in 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 purchasing an additional 689 shares in the last quarter. 99.08% of the stock is currently owned by hedge funds and other institutional investors.

Azenta Price Performance

NASDAQ AZTA traded down $0.06 during mid-day trading on Friday, hitting $25.36. The company’s stock had a trading volume of 544,666 shares, compared to its average volume of 618,004. Azenta has a 52-week low of $15.93 and a 52-week high of $41.73. The stock’s fifty day simple moving average is $22.17 and its two-hundred day simple moving average is $26.64. The firm has a market capitalization of $1.17 billion, a P/E ratio of -6.40 and a beta of 1.37.

Azenta (NASDAQ:AZTA) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.16). Azenta had a positive return on equity of 1.23% and a negative net margin of 30.49%.The business had revenue of $144.79 million for the quarter, compared to analysts’ expectations of $148.47 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. Azenta’s quarterly revenue was up 1.4% compared to the same quarter last year.

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.