Azenta (NASDAQ:AZTA) Downgraded by Zacks Investment Research to Sell

Azenta (NASDAQ:AZTAGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, reports.

According to Zacks, “Azenta Inc. is a provider of life sciences solutions. The company provides reliable cold-chain sample management solutions and genomic services across areas such as drug development, clinical research and advanced cell therapies for the pharmaceutical, biotech, academic and healthcare institutions. Azenta Inc., formerly known as Brooks Automation Inc., is based in CHELMSFORD, Mass. “

AZTA has been the topic of several other research reports. Needham & Company LLC lowered their price target on Azenta from $115.00 to $94.00 in a report on Tuesday, May 10th. Evercore ISI started coverage on shares of Azenta in a research note on Monday, March 21st. They issued an “outperform” rating and a $100.00 price objective on the stock. Finally, B. Riley lowered their price objective on shares of Azenta from $106.00 to $94.00 in a research note on Tuesday, May 17th.

Shares of NASDAQ AZTA traded down $3.26 during mid-day trading on Thursday, reaching $74.24. The company had a trading volume of 343,714 shares, compared to its average volume of 545,803. The business has a fifty day simple moving average of $76.04. The stock has a market capitalization of $5.57 billion, a P/E ratio of 2.51 and a beta of 1.65. Azenta has a 12-month low of $61.35 and a 12-month high of $124.79.

Azenta (NASDAQ:AZTAGet Rating) last posted its quarterly earnings results on Monday, May 9th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $145.60 million during the quarter, compared to analyst estimates of $142.10 million. Azenta had a net margin of 301.05% and a return on equity of 4.28%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 earnings per share. On average, sell-side analysts predict that Azenta will post 0.54 earnings per share for the current year.

An institutional investor recently bought a new position in Azenta stock. Brasada Capital Management LP purchased a new position in shares of Azenta, Inc. (NASDAQ:AZTAGet Rating) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 35,438 shares of the company’s stock, valued at approximately $2,937,000. 94.02% of the stock is owned by hedge funds and other institutional investors.

About Azenta (Get Rating)

Azenta, Inc provides manufacturing automation solutions for the semiconductor industry, and life science sample-based services and solutions for the life sciences market worldwide. The company operates in two segments, Life Sciences Products and Life Sciences Services. The Life Sciences Products segment offers automated ultra-cold storage systems and consumables, including racks, tubes, caps, plates, and foils; instruments, such as labeling, bar coding, capping, de-capping, auditing, sealing, peeling, piercing tubes, and plates.

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