Dynamic Technology Lab Private Ltd Makes New $505,000 Investment in Azenta, Inc. $AZTA

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new stake in Azenta, Inc. by purchasing 14,580 shares valued at approximately $505,000 during the first quarter.
• Multiple institutional investors have significantly increased their holdings in Azenta, with Conestoga Capital Advisors growing its position by 21.4% and Millennium Management increasing theirs by 214.8%.
• Azenta's stock currently has a consensus rating of "Hold" with an average target price of $35.75, and the company reported earnings of $0.19 EPS for the last quarter, exceeding analysts' expectations.

Dynamic Technology Lab Private Ltd bought a new stake in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,580 shares of the company's stock, valued at approximately $505,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Park West Asset Management LLC lifted its position in Azenta by 10.6% during the first quarter. Park West Asset Management LLC now owns 331,743 shares of the company's stock valued at $11,492,000 after purchasing an additional 31,743 shares in the last quarter. Millennium Management LLC lifted its position in Azenta by 214.8% during the first quarter. Millennium Management LLC now owns 340,580 shares of the company's stock valued at $11,798,000 after purchasing an additional 232,405 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Azenta during the first quarter valued at $435,000. Graham Capital Management L.P. purchased a new position in Azenta during the first quarter valued at $1,820,000. Finally, Quarry LP lifted its position in Azenta by 41.5% during the first quarter. Quarry LP now owns 3,120 shares of the company's stock valued at $108,000 after purchasing an additional 915 shares in the last quarter. 99.08% of the stock is currently owned by hedge funds and other institutional investors.

Azenta Trading Up 2.2%

Shares of NASDAQ:AZTA traded up $0.65 during mid-day trading on Tuesday, reaching $30.59. The stock had a trading volume of 602,367 shares, compared to its average volume of 452,196. The company has a market cap of $1.40 billion, a P/E ratio of -12.64 and a beta of 1.65. Azenta, Inc. has a 1 year low of $23.91 and a 1 year high of $55.63. The business's 50 day moving average price is $31.07 and its 200 day moving average price is $30.80.

Azenta (NASDAQ:AZTA - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.06. The company had revenue of $143.94 million for the quarter, compared to the consensus estimate of $149.64 million. Azenta had a positive return on equity of 1.35% and a negative net margin of 18.45%.The firm's revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 earnings per share. Analysts predict that Azenta, Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Evercore ISI set a $33.00 price objective on Azenta and gave the company an "in-line" rating in a research report on Tuesday, August 5th. Raymond James Financial upgraded Azenta from a "market perform" rating to an "outperform" rating and set a $35.00 price objective on the stock in a research report on Wednesday, August 6th. Finally, Stephens assumed coverage on Azenta in a research report on Tuesday, July 22nd. They issued an "equal weight" rating and a $35.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Azenta has a consensus rating of "Hold" and an average target price of $35.75.

Azenta Company 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.