Bank of New York Mellon Corp Takes $6.82 Million Position in Azenta, Inc. $AZTA

Key Points

• Bank of New York Mellon acquired 267,166 Azenta shares worth approximately $6.82 million, giving it a 0.58% stake. Institutional investors collectively own 99.08% of the company.
• Analyst sentiment is mixed: Needham raised its price target to $37 and maintained a Buy rating, while the overall consensus remains Hold with a $41.20 target.
• Azenta beat quarterly expectations, reporting adjusted EPS of $0.16 versus $0.11 expected and revenue of $161.18 million versus $149.31 million forecast. Shares opened at $31.18, down 1.7%.

Bank of New York Mellon Corp purchased a new position in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 267,166 shares of the company's stock, valued at approximately $6,818,000. Bank of New York Mellon Corp owned 0.58% of Azenta at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in Azenta during the second quarter valued at approximately $568,000. Glenmede Trust Co. NA raised its holdings in shares of Azenta by 44.1% during the 1st quarter. Glenmede Trust Co. NA now owns 26,941 shares of the company's stock worth $569,000 after buying an additional 8,250 shares in the last quarter. Front Street Capital Management Inc. raised its holdings in shares of Azenta by 211.7% during the 1st quarter. Front Street Capital Management Inc. now owns 889,009 shares of the company's stock worth $18,785,000 after buying an additional 603,757 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Azenta by 12.7% during the 1st quarter. Bank of America Corp DE now owns 468,046 shares of the company's stock worth $9,890,000 after buying an additional 52,757 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new position in Azenta in the first quarter valued at about $1,790,000. Institutional investors and hedge funds own 99.08% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on AZTA shares. Needham & Company LLC boosted their target price on Azenta from $33.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Azenta from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, August 26th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $41.20.

Azenta Trading Down 1.7%

NASDAQ:AZTA opened at $31.18 on Friday. The stock's 50-day moving average is $29.62 and its 200-day moving average is $25.23. Azenta, Inc. has a 1-year low of $15.93 and a 1-year high of $41.73. The stock has a market cap of $1.37 billion, a P/E ratio of -11.30 and a beta of 1.39.

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

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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