Shares of Azenta, Inc. (NASDAQ:AZTA – Get Free Report) have received a consensus rating of “Moderate Buy” from the five research firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $64.50.
A number of analysts have issued reports on AZTA shares. Stephens raised their target price on Azenta from $45.00 to $55.00 and gave the company an “equal weight” rating in a report on Wednesday, August 9th. Needham & Company LLC upped their target price on shares of Azenta from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, Raymond James started coverage on Azenta in a report on Tuesday, July 18th. They set a “market perform” rating on the stock.
Get Our Latest Stock Report on Azenta
Azenta Price Performance
Azenta (NASDAQ:AZTA – Get Free Report) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.16. Azenta had a positive return on equity of 0.84% and a negative net margin of 6.09%. The business had revenue of $165.95 million during the quarter, compared to the consensus estimate of $153.42 million. During the same period in the previous year, the business earned $0.12 EPS. The business’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, analysts forecast that Azenta will post 0.13 EPS for the current year.
Insiders Place Their Bets
In related news, insider David C. Gray sold 4,311 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $57.24, for a total value of $246,761.64. Following the completion of the sale, the insider now owns 87,919 shares in the company, valued at approximately $5,032,483.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.67% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Macquarie Group Ltd. bought a new stake in shares of Azenta in the 2nd quarter worth approximately $160,068,000. Politan Capital Management LP bought a new stake in Azenta during the 2nd quarter valued at approximately $93,360,000. State Street Corp bought a new stake in Azenta during the 2nd quarter valued at approximately $141,290,000. Hudson Bay Capital Management LP bought a new stake in Azenta during the 2nd quarter valued at approximately $77,022,000. Finally, JPMorgan Chase & Co. boosted its position in Azenta by 115.1% during the 1st quarter. JPMorgan Chase & Co. now owns 3,018,907 shares of the company’s stock valued at $134,703,000 after acquiring an additional 1,615,328 shares in the last quarter. Institutional investors own 99.08% of the company’s stock.
About Azenta
Azenta, Inc provides life science sample exploration and management solutions for the life sciences market in North America, Europe, China, the Asia Pacific, and internationally. The company operates through two reportable segments, Life Sciences Products and Life Sciences Services. The Life Sciences Products segment offers automated cold sample management systems for compound and biological sample storage; equipment for sample preparation and handling; consumables; and instruments that help customers in managing samples throughout their research discovery and development workflows.
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