668,398 Shares in Azenta, Inc. $AZTA Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 668,398 Azenta shares worth approximately $17.1 million, giving it a 1.53% stake. Institutional investors collectively own 99.08% of Azenta.
• Azenta reported quarterly revenue of $161.18 million and earnings of $0.16 per share, exceeding analyst estimates of $149.31 million and $0.11, respectively, though it posted a negative net margin.
• Azenta shares opened at $34.20, up 0.3%, while analysts’ consensus rating remained “Hold” with an average price target of $41.20.

Bank of America Corp DE purchased a new stake in Azenta, Inc. (NASDAQ:AZTA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 668,398 shares of the company's stock, valued at approximately $17,058,000. Bank of America Corp DE owned approximately 1.53% of Azenta as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in AZTA. BlackRock Inc. bought a new stake in Azenta in the 2nd quarter valued at approximately $192,152,000. Conestoga Capital Advisors LLC boosted its position in Azenta by 116.1% during the first quarter. Conestoga Capital Advisors LLC now owns 2,844,546 shares of the company's stock valued at $60,105,000 after purchasing an additional 1,528,145 shares during the last quarter. GW&K Investment Management LLC grew its stake in Azenta by 37.1% in the fourth quarter. GW&K Investment Management LLC now owns 1,550,101 shares of the company's stock valued at $51,556,000 after purchasing an additional 419,630 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Azenta by 16.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,613,914 shares of the company's stock worth $34,183,000 after purchasing an additional 225,867 shares during the last quarter. Finally, Front Street Capital Management Inc. acquired a new position in shares of Azenta during the 2nd quarter worth approximately $33,212,000. 99.08% of the stock is owned by institutional investors.

Azenta Stock Up 0.3%

Azenta stock opened at $34.20 on Friday. The company's 50-day moving average price is $31.63 and its two-hundred day moving average price is $25.78. The stock has a market cap of $1.50 billion, a P/E ratio of -12.39 and a beta of 1.39. Azenta, Inc. has a twelve month low of $15.93 and a twelve month high of $41.73.

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

Analyst Ratings Changes

AZTA has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Azenta from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, August 26th. Needham & Company LLC reiterated a "buy" rating and issued a $37.00 price target on shares of Azenta in a research note on Monday, September 14th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Azenta presently has an average rating of "Hold" and a consensus price target of $41.20.

About Azenta

Azenta, Inc NASDAQ: AZTA is a life sciences company that provides solutions for the management, storage, and analysis of biological samples. Its customers include pharmaceutical and biotechnology companies, academic and government research institutions, clinical research organizations, and other organizations involved in drug discovery, clinical research, and genomic analysis.

The company offers automated sample-management systems, ultra-low-temperature and cryogenic storage equipment, laboratory automation, consumables, and software for tracking and managing biological specimens.

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