Azenta, Inc. $AZTA Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Azenta, Inc. by 5.9% during the first quarter, now owning 434,341 shares valued at approximately $15 million.
• Azenta's stock has received mixed reviews from analysts, with price targets ranging from $33.00 to $40.00, and an average target price of $35.75.
• In its latest earnings report, Azenta beat earnings estimates with $0.19 earnings per share but reported revenue slightly below expectations at $143.94 million.

Charles Schwab Investment Management Inc. cut its stake in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) by 5.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 434,341 shares of the company's stock after selling 27,262 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.95% of Azenta worth $15,046,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Conestoga Capital Advisors LLC grew its position in Azenta by 21.4% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,915,556 shares of the company's stock worth $66,355,000 after purchasing an additional 337,675 shares during the period. Lord Abbett & CO. LLC acquired a new stake in Azenta during the 4th quarter worth about $47,350,000. Palisade Capital Management LP grew its position in Azenta by 7.1% during the 1st quarter. Palisade Capital Management LP now owns 868,324 shares of the company's stock worth $30,079,000 after purchasing an additional 57,418 shares during the period. Stephens Investment Management Group LLC grew its position in Azenta by 15.6% during the 1st quarter. Stephens Investment Management Group LLC now owns 803,801 shares of the company's stock worth $27,844,000 after purchasing an additional 108,190 shares during the period. Finally, Federated Hermes Inc. grew its position in Azenta by 1.2% during the 1st quarter. Federated Hermes Inc. now owns 771,091 shares of the company's stock worth $26,711,000 after purchasing an additional 8,902 shares during the period. 99.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AZTA. Raymond James Financial raised shares of Azenta from a "market perform" rating to an "outperform" rating and set a $35.00 target price on the stock 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 note on Tuesday, August 5th. Needham & Company LLC lowered their target price on shares of Azenta from $59.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, Stephens began coverage on shares of Azenta in a research note on Tuesday, July 22nd. They set an "equal weight" rating and a $35.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $35.75.

Azenta Trading Up 2.1%

AZTA stock traded up $0.62 during mid-day trading on Friday, reaching $30.54. The company's stock had a trading volume of 437,306 shares, compared to its average volume of 719,026. The stock has a market cap of $1.40 billion, a PE ratio of -12.62 and a beta of 1.59. Azenta, Inc. has a fifty-two week low of $23.91 and a fifty-two week high of $55.63. The company's 50 day moving average is $31.37 and its two-hundred day moving average is $32.16.

Azenta (NASDAQ:AZTA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.06. Azenta had a negative net margin of 18.45% and a positive return on equity of 1.35%. The business had revenue of $143.94 million during the quarter, compared to the consensus estimate of $149.64 million. During the same quarter last year, the firm earned $0.14 EPS. The business's revenue was up .0% compared to the same quarter last year. On average, analysts forecast that Azenta, Inc. will post 0.53 earnings per share for the current fiscal year.

About Azenta

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.