Bank of America Corp DE Purchases 52,757 Shares of Azenta, Inc. $AZTA

Key Points

• Bank of America increased its Azenta stake by 12.7%, purchasing 52,757 shares to own 468,046 shares valued at approximately $9.89 million. Institutional investors collectively hold 99.08% of the company.
• Azenta reported quarterly earnings of $0.16 per share, exceeding the $0.11 analyst estimate, while revenue of $161.18 million also surpassed expectations of $149.31 million.
• Analyst sentiment is mixed: four analysts rate Azenta a Buy, two recommend Hold and one rates it Sell. The stock has an average rating of Hold and an average price target of $41.20.

Bank of America Corp DE raised its position in Azenta, Inc. (NASDAQ:AZTA - Free Report) by 12.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,046 shares of the company's stock after buying an additional 52,757 shares during the quarter. Bank of America Corp DE owned 1.02% of Azenta worth $9,890,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. American Capital Management Inc. raised its stake in Azenta by 26.9% in the first quarter. American Capital Management Inc. now owns 1,296,024 shares of the company's stock valued at $27,385,000 after purchasing an additional 274,588 shares in the last quarter. Fifth Third Bancorp increased its position in Azenta by 21,522.4% during the 1st quarter. Fifth Third Bancorp now owns 285,632 shares of the company's stock worth $6,035,000 after purchasing an additional 284,311 shares in the last quarter. Caxton Associates LLP boosted its holdings in shares of Azenta by 152.5% during the 1st quarter. Caxton Associates LLP now owns 173,000 shares of the company's stock valued at $3,655,000 after acquiring an additional 104,497 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Azenta during the first quarter worth about $1,509,000. Finally, Stephens Investment Management Group LLC grew its holdings in Azenta by 11.0% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,072,039 shares of the company's stock worth $35,656,000 after acquiring an additional 106,177 shares during the last quarter. Institutional investors own 99.08% of the company's stock.

Azenta Price Performance

NASDAQ:AZTA opened at $37.40 on Monday. The company has a market capitalization of $1.64 billion, a P/E ratio of -13.55 and a beta of 1.36. The business has a fifty day simple moving average of $27.92 and a two-hundred day simple moving average of $25.06. 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 issued its earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.05. The firm had revenue of $161.18 million during the quarter, compared to analyst estimates of $149.31 million. Azenta had a negative net margin of 20.63% and a positive return on equity of 1.18%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AZTA shares. Weiss Ratings downgraded shares of Azenta from a "sell (d-)" rating to a "sell (e+)" rating in a research note 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 research 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 stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $41.20.

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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