Envestnet Asset Management Inc. Lowers Stake in Azenta, Inc. (NASDAQ:AZTA)

Envestnet Asset Management Inc. lessened its holdings in Azenta, Inc. (NASDAQ:AZTA - Free Report) by 20.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 298,501 shares of the company's stock after selling 74,856 shares during the period. Envestnet Asset Management Inc. owned 0.65% of Azenta worth $14,925,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Picton Mahoney Asset Management grew its stake in Azenta by 305.7% during the fourth quarter. Picton Mahoney Asset Management now owns 706 shares of the company's stock valued at $35,000 after acquiring an additional 532 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Azenta during the 4th quarter valued at about $40,000. KBC Group NV boosted its holdings in shares of Azenta by 48.5% during the 4th quarter. KBC Group NV now owns 2,137 shares of the company's stock valued at $107,000 after purchasing an additional 698 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Azenta during the fourth quarter valued at about $200,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Azenta in the fourth quarter worth about $217,000. 99.08% of the stock is currently owned by hedge funds and other institutional investors.

Azenta Stock Performance

AZTA stock traded up $0.02 during midday trading on Tuesday, reaching $25.05. 859,499 shares of the company traded hands, compared to its average volume of 642,894. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -8.41 and a beta of 1.66. Azenta, Inc. has a 52-week low of $24.06 and a 52-week high of $63.58. The business has a 50 day moving average of $36.14 and a 200-day moving average of $43.65.

Azenta (NASDAQ:AZTA - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. Azenta had a positive return on equity of 1.25% and a negative net margin of 24.91%. Research analysts anticipate that Azenta, Inc. will post 0.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AZTA has been the subject of a number of research reports. Needham & Company LLC increased their price target on Azenta from $55.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. TD Cowen upgraded Azenta to a "hold" rating in a research report on Thursday, February 27th. Stephens reissued an "overweight" rating and issued a $60.00 target price on shares of Azenta in a report on Thursday, January 2nd. Finally, Evercore ISI upped their price target on shares of Azenta from $50.00 to $52.00 and gave the company an "in-line" rating in a research note on Thursday, February 6th.

Azenta Profile

Azenta, Inc provides biological and chemical compound sample exploration and management solutions for the life sciences market in North America, Africa, China, the United Kingdom, rest of Europe, the Asia Pacific, and internationally. The company operates in two reportable segments, Life Sciences Products and Life Sciences Services.