American Capital Management Inc. Buys Shares of 1,061,490 Azenta, Inc. $AZTA

Key Points

• American Capital Management acquired 1,061,490 Azenta shares worth approximately $27.1 million, representing about 2.42% of the company. Institutional investors and hedge funds collectively own 99.08% of Azenta.
• Azenta reported quarterly EPS of $0.16, beating the $0.11 analyst consensus, while revenue of $161.18 million exceeded estimates of $149.31 million.
• Analyst sentiment remains mixed: four analysts rate Azenta a Buy, two a Hold and one a Sell, resulting in a consensus Hold rating and a $41.20 price target.

American Capital Management Inc. bought a new stake in Azenta, Inc. (NASDAQ:AZTA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,061,490 shares of the company's stock, valued at approximately $27,089,000. American Capital Management Inc. owned approximately 2.42% of Azenta as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Azenta in the 2nd quarter worth approximately $192,152,000. Conestoga Capital Advisors LLC lifted its holdings in shares of Azenta by 116.1% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,844,546 shares of the company's stock worth $60,105,000 after acquiring an additional 1,528,145 shares during the period. Front Street Capital Management Inc. purchased a new position in shares of Azenta in the 2nd quarter worth $33,212,000. Millennium Management LLC raised its holdings in shares of Azenta by 41.6% in the 3rd quarter. Millennium Management LLC now owns 1,698,562 shares of the company's stock worth $48,783,000 after purchasing an additional 499,216 shares during the period. Finally, Scopia Capital Management LP acquired a new position in Azenta during the third quarter valued at approximately $14,026,000. 99.08% of the stock is currently owned by institutional investors and hedge funds.

Azenta Price Performance

Shares of Azenta stock opened at $33.57 on Thursday. The stock has a 50-day simple moving average of $28.54 and a 200-day simple moving average of $25.11. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -12.16 and a beta of 1.37. Azenta, Inc. has a 52-week low of $15.93 and a 52-week high of $41.73.

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

Analyst Upgrades and Downgrades

AZTA has been the topic of a number of recent analyst reports. Weiss Ratings lowered Azenta from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, August 11th. Needham & Company LLC increased their price objective on shares of Azenta from $33.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $41.20.

Azenta Company Profile

Azenta, Inc NASDAQ: AZTA is a life sciences technology company specializing in sample management, cryogenic storage and genomic services for research and clinical applications. Formerly the Life Sciences division of Brooks Automation, Azenta provides integrated solutions that enable customers to store, track and analyze biological samples with high levels of automation, data integrity and efficiency. Its offerings span automated storage systems, biorepository management software and end‐to‐end sample tracking workflows.

In addition to hardware and informatics platforms for sample storage, Azenta's Genomics business delivers next‐generation sequencing (NGS), DNA synthesis, and molecular biology services.

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