Azenta (NASDAQ:AZTA) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Azenta (NASDAQ:AZTA) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

A number of other equities analysts also recently weighed in on the stock. Weiss Ratings raised shares of Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 26th. Needham & Company LLC restated a “buy” rating and set a $37.00 price objective on shares of Azenta in a report on Monday, September 14th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Azenta has a consensus rating of “Hold” and an average target price of $41.20.

Azenta Price Performance

NASDAQ AZTA opened at $37.72 on Friday. Azenta has a 12 month low of $15.93 and a 12 month high of $46.41. The company has a 50-day moving average of $33.60 and a 200-day moving average of $26.89. The company has a market cap of $1.65 billion, a P/E ratio of -13.67 and a beta of 1.52.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Legacy Wealth Asset Management LLC acquired a new stake in shares of Azenta in the third quarter worth $246,000. GAMMA Investing LLC raised its stake in shares of 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 acquiring an additional 1,357 shares during the period. Green Alpha Advisors LLC lifted its holdings in shares of Azenta by 3.5% during the 3rd quarter. Green Alpha Advisors LLC now owns 9,187 shares of the company’s stock valued at $321,000 after acquiring an additional 313 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Azenta during the 2nd quarter valued at $39,000. Finally, Corient Private Wealth LP purchased a new stake in Azenta during the 2nd quarter worth $508,000. 99.08% of the stock is owned by institutional investors and hedge funds.

About Azenta

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.