Park West Asset Management LLC Acquires 31,743 Shares of Azenta, Inc. $AZTA

Key Points

• Park West Asset Management LLC has increased its stake in Azenta, Inc. by 10.6%, owning about 0.72% of the company after purchasing additional shares worth approximately $11.49 million.
• Azenta reported earnings per share of $0.19 for the most recent quarter, exceeding analysts' expectations of $0.13, although total revenue of $143.94 million fell short of estimates.
• Institutional investors control 99.08% of Azenta's shares, indicating strong institutional interest in the company.

Park West Asset Management LLC raised its stake in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 331,743 shares of the company's stock after purchasing an additional 31,743 shares during the period. Park West Asset Management LLC owned 0.72% of Azenta worth $11,492,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position in Azenta by 788.1% during the first quarter. Farther Finance Advisors LLC now owns 968 shares of the company's stock valued at $33,000 after acquiring an additional 859 shares during the last quarter. State of Wyoming grew its stake in Azenta by 77.1% during the first quarter. State of Wyoming now owns 2,343 shares of the company's stock worth $81,000 after purchasing an additional 1,020 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in Azenta by 13,184.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 2,524 shares of the company's stock valued at $87,000 after buying an additional 2,505 shares during the period. Quarry LP lifted its stake in Azenta by 41.5% in the first quarter. Quarry LP now owns 3,120 shares of the company's stock valued at $108,000 after buying an additional 915 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Azenta by 28.5% during the 4th quarter. Deutsche Bank AG now owns 4,199 shares of the company's stock worth $210,000 after buying an additional 931 shares in the last quarter. Institutional investors and hedge funds own 99.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Raymond James Financial raised shares of Azenta from a "market perform" rating to an "outperform" rating and set a $35.00 price target for the company in a research note on Wednesday, August 6th. Evercore ISI set a $33.00 target price on shares of Azenta and gave the stock an "in-line" rating in a research report on Tuesday, August 5th. Finally, Stephens started coverage on shares of Azenta in a research report on Tuesday, July 22nd. They issued an "equal weight" rating and a $35.00 price target on the stock. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $35.75.

Azenta Trading Down 0.5%

Shares of AZTA stock traded down $0.16 on Wednesday, hitting $29.28. 368,444 shares of the stock were exchanged, compared to its average volume of 485,707. Azenta, Inc. has a one year low of $23.91 and a one year high of $55.63. The firm's 50 day moving average is $31.20 and its two-hundred day moving average is $31.31. The firm has a market capitalization of $1.34 billion, a PE ratio of -12.10 and a beta of 1.65.

Azenta (NASDAQ:AZTA - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.06. The business had revenue of $143.94 million during 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%. Azenta'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. On average, sell-side analysts expect that Azenta, Inc. will post 0.53 earnings per share 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.