Azenta, Inc. $AZTA Stock Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring cut its Azenta stake by 50.8% in the third quarter, selling 605,263 shares and retaining 586,745 shares valued at about $20.2 million.
• Azenta reported quarterly EPS of $0.28, beating the $0.11 analyst consensus, while revenue of $167.1 million also topped estimates of $160.2 million.
• Needham raised its price target to $57 from $37 and Jefferies lifted its target to $52 from $44; the stock’s average analyst rating remains “Hold,” with an average target of $47.60.

Allspring Global Investments Holdings LLC reduced its holdings in Azenta, Inc. (NASDAQ:AZTA - Free Report) by 50.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 586,745 shares of the company's stock after selling 605,263 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.34% of Azenta worth $20,231,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pictet Asset Management Holding SA purchased a new position in Azenta during the third quarter worth about $254,000. CenterBook Partners LP purchased a new stake in shares of Azenta in the 3rd quarter valued at approximately $212,000. Heritage Family Offices LLP purchased a new stake in shares of Azenta in the 3rd quarter valued at approximately $31,000. Traynor Capital Management Inc. purchased a new stake in shares of Azenta in the 3rd quarter valued at approximately $244,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Azenta during the 3rd quarter worth approximately $200,000. 99.08% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Azenta

These are some of the AZTA headlines that stood out recently:

• Positive Sentiment: Needham raised its price target to $57 from $37 and maintained a Buy rating, signaling greater optimism about potential upside. Article: Needham Raises Azenta Price Target
• Neutral Sentiment: After the sharp post-earnings advance, some investors took profits, contributing to a pullback; this may reflect near-term trading rather than a change in the company’s fundamentals. Article: Azenta Dips as Investors Book Profits
• Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims tied to allegations that Azenta may have issued materially misleading business information. The investigation is an allegation, not a finding of wrongdoing, but may weigh on sentiment. Article: Rosen Law Firm Investor Notice

Azenta Stock Performance

AZTA opened at $45.65 on Friday. The business's 50-day simple moving average is $36.52 and its 200-day simple moving average is $28.56. Azenta, Inc. has a one year low of $15.93 and a one year high of $50.06. The stock has a market capitalization of $2.00 billion, a P/E ratio of -12.61 and a beta of 1.47.

Azenta (NASDAQ:AZTA - Get Free Report) last released its quarterly earnings results on Tuesday, November 10th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.17. Azenta had a positive return on equity of 1.41% and a negative net margin of 26.86%. The firm had revenue of $167.09 million for the quarter, compared to the consensus estimate of $160.16 million. On average, equities research analysts forecast that Azenta, Inc. will post 0.69 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on AZTA. Wall Street Zen raised shares of Azenta from a "hold" rating to a "buy" rating in a research report on Saturday. Weiss Ratings upgraded Azenta from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, August 26th. Needham & Company LLC raised their target price on Azenta from $37.00 to $57.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Jefferies Financial Group lifted their target price on Azenta from $44.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $47.60.

Azenta Profile

Azenta, Inc. provides products and services for life sciences research and the management of biological samples. Its offerings include automated sample storage systems, laboratory automation equipment, consumables, and software used to track and manage samples. The company also provides genomic services through GENEWIZ, including sequencing and other genetic analysis services for researchers and organizations in the life sciences and pharmaceutical industries. Azenta was formed in 2021 when Brooks Automation separated its life sciences business and adopted the Azenta name.

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