Azenta, Inc. $AZTA Shares Sold by Segall Bryant & Hamill LLC

Key Points

• Segall Bryant & Hamill LLC reduced its Azenta stake by 14% in the first quarter, selling 77,669 shares and retaining 478,339 shares worth approximately $10.1 million. Institutional investors collectively own 99.08% of AZTA.
• Analyst sentiment is mixed: Needham cut its price target to $33 while maintaining a Buy rating, and MarketBeat reports a consensus rating of Hold with a $40.40 price target.
• Azenta’s latest quarterly results missed expectations, reporting a $0.04 loss per share versus the $0.12 consensus estimate and revenue of $144.79 million versus expectations of $148.47 million, though revenue increased 1.4% year over year.

Segall Bryant & Hamill LLC decreased its position in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) by 14.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 478,339 shares of the company's stock after selling 77,669 shares during the quarter. Segall Bryant & Hamill LLC owned 1.04% of Azenta worth $10,107,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AZTA. Front Street Capital Management Inc. increased its stake in Azenta by 211.7% in the 1st quarter. Front Street Capital Management Inc. now owns 889,009 shares of the company's stock valued at $18,785,000 after purchasing an additional 603,757 shares in the last quarter. Bank of America Corp DE boosted its position in Azenta by 12.7% during the first quarter. Bank of America Corp DE now owns 468,046 shares of the company's stock worth $9,890,000 after purchasing an additional 52,757 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in Azenta during the first quarter worth $1,790,000. Amundi grew its holdings in Azenta by 68.5% in the first quarter. Amundi now owns 18,741 shares of the company's stock valued at $396,000 after purchasing an additional 7,618 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in Azenta by 43.1% in the first quarter. California State Teachers Retirement System now owns 55,718 shares of the company's stock valued at $1,177,000 after purchasing an additional 16,773 shares during the last quarter. Institutional investors and hedge funds own 99.08% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AZTA shares. Weiss Ratings raised Azenta from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, July 15th. Needham & Company LLC lowered their price objective on shares of Azenta from $44.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $40.40.

Azenta Stock Performance

AZTA stock opened at $28.13 on Monday. The stock's 50 day moving average price is $24.68 and its 200 day moving average price is $25.73. The firm has a market cap of $1.30 billion, a P/E ratio of -7.10 and a beta of 1.36. Azenta, Inc. has a 1 year low of $15.93 and a 1 year high of $41.73.

Azenta (NASDAQ:AZTA - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.16). Azenta had a positive return on equity of 1.23% and a negative net margin of 30.49%.The company had revenue of $144.79 million for the quarter, compared to analysts' expectations of $148.47 million. During the same period in the previous year, the business posted $0.01 EPS. The business's quarterly revenue was up 1.4% on a year-over-year basis.

About Azenta

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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