Allianz Asset Management GmbH Invests $301,000 in Azenta, Inc. (NASDAQ:AZTA)

Key Points

• Allianz Asset Management GmbH has acquired a new stake in Azenta, Inc., purchasing 8,700 shares valued at approximately $301,000 during the first quarter.
• Other large investors, including Lord Abbett & CO. LLC and Norges Bank, have also purchased significant stakes in Azenta, indicating strong institutional interest in the company.
• Azenta reported a net loss of $0.04 per share, missing analyst expectations, but saw a 5.1% increase in revenue compared to the previous year.

Allianz Asset Management GmbH acquired a new stake in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 8,700 shares of the company's stock, valued at approximately $301,000.

A number of other institutional investors also recently bought and sold shares of AZTA. Farther Finance Advisors LLC grew its position in Azenta by 788.1% during the 1st quarter. Farther Finance Advisors LLC now owns 968 shares of the company's stock worth $33,000 after purchasing an additional 859 shares during the last quarter. Headlands Technologies LLC purchased a new position in Azenta during the fourth quarter worth approximately $40,000. Covestor Ltd raised its position in Azenta by 64.2% in the fourth quarter. Covestor Ltd now owns 2,043 shares of the company's stock valued at $102,000 after purchasing an additional 799 shares during the period. Quarry LP acquired a new stake in shares of Azenta in the fourth quarter valued at $110,000. Finally, Sterling Capital Management LLC grew its stake in Azenta by 39.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,856 shares of the company's stock worth $143,000 after purchasing an additional 813 shares in the last quarter. Institutional investors own 99.08% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AZTA. Evercore ISI set a $33.00 target price on Azenta and gave the company an "in-line" rating in a report on Tuesday. Raymond James Financial raised 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. Stephens assumed coverage on Azenta in a research note on Tuesday, July 22nd. They issued an "equal weight" rating and a $35.00 target price for the company. Finally, Needham & Company LLC cut their target price on Azenta from $59.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $35.75.

Azenta Trading Up 1.8%

Shares of Azenta stock traded up $0.51 during midday trading on Thursday, reaching $28.91. The company had a trading volume of 420,611 shares, compared to its average volume of 776,541. Azenta, Inc. has a 1-year low of $23.91 and a 1-year high of $56.37. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -11.94 and a beta of 1.59. The stock has a fifty day simple moving average of $31.04 and a 200 day simple moving average of $34.81.

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

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.