Connor Clark & Lunn Investment Management Ltd. Makes New $1.34 Million Investment in Azenta, Inc. $AZTA

Key Points

• Connor Clark & Lunn Investment Management Ltd. has acquired a new stake in Azenta, Inc., purchasing 38,616 shares valued at approximately $1.34 million.
• A total of 99.08% of Azenta’s stock is owned by institutional investors, with notable recent investments from companies like Lord Abbett & CO. LLC and Nuveen Asset Management LLC.
• Azenta reported $0.19 earnings per share for the last quarter, exceeding analyst estimates, but fell short on revenue expectations with $143.94 million compared to a forecast of $149.64 million.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 38,616 shares of the company's stock, valued at approximately $1,338,000. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of Azenta as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Zions Bancorporation National Association UT bought a new position in Azenta during the first quarter worth about $1,034,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Azenta by 8.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,842 shares of the company's stock worth $168,000 after purchasing an additional 396 shares during the period. Ontario Teachers Pension Plan Board boosted its position in Azenta by 499.9% during the first quarter. Ontario Teachers Pension Plan Board now owns 36,947 shares of the company's stock worth $1,280,000 after purchasing an additional 30,788 shares during the period. Jupiter Asset Management Ltd. bought a new position in Azenta during the first quarter worth about $2,566,000. Finally, Jefferies Financial Group Inc. bought a new position in Azenta during the first quarter worth about $1,618,000. Institutional investors own 99.08% of the company's stock.

Azenta Stock Performance

AZTA traded up $0.07 on Thursday, reaching $29.84. The company had a trading volume of 374,645 shares, compared to its average volume of 726,099. Azenta, Inc. has a 52-week low of $23.91 and a 52-week high of $55.63. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -12.33 and a beta of 1.59. The business has a 50 day simple moving average of $31.30 and a 200 day simple moving average of $33.00.

Azenta (NASDAQ:AZTA - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 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 analysts' expectations of $149.64 million. During the same quarter in the previous year, the company earned $0.14 EPS. The business's quarterly revenue was up .0% compared to the same quarter last year. As a group, equities research analysts predict that Azenta, Inc. will post 0.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Needham & Company LLC cut their target price on shares of Azenta from $59.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Stephens began coverage on shares of Azenta in a report on Tuesday, July 22nd. They issued an "equal weight" rating and a $35.00 price target on the stock. Raymond James Financial raised shares of Azenta from a "market perform" rating to an "outperform" rating and set a $35.00 price target on the stock in a report on Wednesday, August 6th. Finally, Evercore ISI set a $33.00 price target on shares of Azenta and gave the stock an "in-line" rating in a report on Tuesday, August 5th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $35.75.

Azenta Profile

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.