Jupiter Asset Management Ltd. Buys New Holdings in Azenta, Inc. (NASDAQ:AZTA)

Key Points

• Jupiter Asset Management Ltd. acquired 74,064 shares of Azenta, Inc. (NASDAQ:AZTA) in Q1, valued at approximately $2.57 million, giving it 0.16% ownership of the company.
• Azenta's stock reported a 50-day moving average of $30.92 and a 200-day average of $35.05, with a market capitalization of $1.48 billion.
• In its most recent earnings report, Azenta missed consensus estimates with earnings per share of $0.05, compared to an expected $0.09, and a 5.1% year-over-year revenue increase.

Jupiter Asset Management Ltd. purchased a new stake in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 74,064 shares of the company's stock, valued at approximately $2,566,000. Jupiter Asset Management Ltd. owned approximately 0.16% of Azenta as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AZTA. American Century Companies Inc. boosted its stake in Azenta by 10.8% in the 4th quarter. American Century Companies Inc. now owns 99,210 shares of the company's stock worth $4,960,000 after purchasing an additional 9,640 shares in the last quarter. LPL Financial LLC boosted its stake in Azenta by 31.4% during the 4th quarter. LPL Financial LLC now owns 50,342 shares of the company's stock worth $2,590,000 after purchasing an additional 12,033 shares during the last quarter. Norges Bank acquired a new stake in Azenta during the 4th quarter worth $25,403,000. Franklin Resources Inc. acquired a new stake in Azenta during the 4th quarter worth $256,000. Finally, Headlands Technologies LLC acquired a new stake in Azenta during the 4th quarter worth $40,000. Hedge funds and other institutional investors own 99.08% of the company's stock.

Azenta Trading Down 17.0%

NASDAQ AZTA traded down $5.51 during trading hours on Tuesday, reaching $26.90. The company had a trading volume of 2,081,509 shares, compared to its average volume of 573,560. The stock has a 50-day moving average of $31.03 and a 200 day moving average of $34.91. Azenta, Inc. has a 1-year low of $23.91 and a 1-year high of $60.60. The stock has a market capitalization of $1.23 billion, a P/E ratio of -19.35 and a beta of 1.59.

Azenta (NASDAQ:AZTA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. Azenta had a negative net margin of 10.31% and a positive return on equity of 1.30%. The business had revenue of $143.94 million during the quarter, compared to analyst estimates of $149.64 million. During the same quarter last year, the firm posted $0.14 earnings per share. The business's revenue for the quarter was up .0% compared to the same quarter last year. As a group, sell-side analysts predict that Azenta, Inc. will post 0.53 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AZTA. Needham & Company LLC lowered their price target on shares of Azenta from $59.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Stephens began coverage on shares of Azenta in a research report on Tuesday, July 22nd. They set an "equal weight" rating and a $35.00 price target on the stock. Finally, Evercore ISI lowered their price target on shares of Azenta from $35.00 to $33.00 and set an "in-line" rating on the stock in a research report on Tuesday.

About Azenta

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.