Allianz Asset Management GmbH Buys Shares of 8,700 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 bought a new stake in Azenta, Inc. (NASDAQ:AZTA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,700 shares of the company's stock, valued at approximately $301,000.

Other large investors have also modified their holdings of the company. Farther Finance Advisors LLC grew its stake in shares of 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 period. Headlands Technologies LLC purchased a new stake in Azenta during the fourth quarter worth about $40,000. Covestor Ltd grew its position in Azenta by 64.2% during the fourth quarter. Covestor Ltd now owns 2,043 shares of the company's stock worth $102,000 after buying an additional 799 shares during the period. Quarry LP purchased a new position in Azenta in the fourth quarter valued at about $110,000. Finally, Sterling Capital Management LLC lifted its position in shares of Azenta by 39.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,856 shares of the company's stock valued at $143,000 after acquiring an additional 813 shares during the period. Hedge funds and other institutional investors own 99.08% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on AZTA. Stephens initiated coverage on Azenta in a research note on Tuesday, July 22nd. They set an "equal weight" rating and a $35.00 price target on the stock. Evercore ISI upped their target price on Azenta from $29.00 to $35.00 and gave the company an "in-line" rating in a report on Tuesday, July 8th. Finally, Needham & Company LLC decreased their price objective 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.

Azenta Price Performance

AZTA stock traded up $0.07 during midday trading on Monday, hitting $32.41. The stock had a trading volume of 1,038,833 shares, compared to its average volume of 565,725. Azenta, Inc. has a 12-month low of $23.91 and a 12-month high of $60.60. The company's 50-day moving average price is $31.03 and its 200 day moving average price is $34.91. The firm has a market cap of $1.48 billion, a PE ratio of -23.32 and a beta of 1.59.

Azenta (NASDAQ:AZTA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). Azenta had a negative net margin of 10.31% and a positive return on equity of 1.30%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $0.06 earnings per share. As a group, sell-side analysts anticipate that Azenta, Inc. will post 0.53 EPS for the current year.

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.