Azenta (NASDAQ:AZTA) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Azenta (NASDAQ:AZTA) from a buy rating to a hold rating in a report released on Sunday morning,Wall Street Zen reports.

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

Azenta Stock Performance

Shares of NASDAQ:AZTA opened at $35.73 on Friday. Azenta has a 52 week low of $15.93 and a 52 week high of $46.41. The company has a market capitalization of $1.57 billion, a PE ratio of -12.95 and a beta of 1.52. The company has a 50 day moving average price of $34.26 and a two-hundred day moving average price of $27.69.

Azenta (NASDAQ:AZTA) last posted its earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. The company had revenue of $161.18 million for the quarter, compared to analyst estimates of $149.31 million. Azenta had a negative net margin of 20.63% and a positive return on equity of 1.18%.

Institutional Investors Weigh In On Azenta

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new stake in shares of Azenta during the 3rd quarter worth about $3,475,000. Legacy Wealth Asset Management LLC bought a new stake in shares of Azenta in the third quarter valued at approximately $246,000. GAMMA Investing LLC lifted its position in shares of Azenta by 43.8% during 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 position in Azenta by 3.5% during the third quarter. Green Alpha Advisors LLC now owns 9,187 shares of the company’s stock worth $321,000 after purchasing an additional 313 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in Azenta during the second quarter worth about $39,000. Institutional investors own 99.08% of the company’s stock.

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.