Edgestream Partners L.P. Takes $1.79 Million Position in Azenta, Inc. $AZTA

Key Points

• Edgestream Partners L.P. acquired 84,737 Azenta shares worth approximately $1.79 million, representing about 0.18% of the company. Institutional investors and hedge funds collectively own 99.08% of Azenta.
• Azenta’s latest quarterly results missed expectations, with an adjusted loss of $0.04 per share versus the $0.12 consensus estimate and revenue of $144.79 million versus $148.47 million expected. Revenue nevertheless increased 1.4% year over year.
• AZTA opened at $29.88, below the analyst consensus price target of $40.40. Analyst sentiment is mixed, with four Buy ratings, two Holds and one Sell, resulting in an overall “Hold” rating.

Edgestream Partners L.P. acquired a new stake in Azenta, Inc. (NASDAQ:AZTA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 84,737 shares of the company's stock, valued at approximately $1,790,000. Edgestream Partners L.P. owned about 0.18% of Azenta as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of Azenta by 2,067.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 802 shares of the company's stock worth $27,000 after buying an additional 765 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Azenta by 54.1% during the fourth quarter. Assetmark Inc. now owns 832 shares of the company's stock valued at $28,000 after buying an additional 292 shares during the last quarter. State of Wyoming acquired a new position in shares of Azenta in the 1st quarter valued at $38,000. Osaic Holdings Inc. increased its position in shares of Azenta by 44.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,242 shares of the company's stock valued at $39,000 after acquiring an additional 385 shares during the period. Finally, Rockefeller Capital Management L.P. raised its stake in Azenta by 98.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,392 shares of the company's stock worth $46,000 after acquiring an additional 689 shares during the last quarter. 99.08% of the stock is currently owned by institutional investors and hedge funds.

Azenta Price Performance

NASDAQ AZTA opened at $29.88 on Tuesday. The company has a market capitalization of $1.38 billion, a PE ratio of -7.55 and a beta of 1.36. The company has a fifty day moving average of $24.87 and a 200 day moving average of $25.67. 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 posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.16). The business had revenue of $144.79 million during the quarter, compared to analysts' expectations of $148.47 million. Azenta had a negative net margin of 30.49% and a positive return on equity of 1.23%. Azenta's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.01 earnings per share.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AZTA. Weiss Ratings raised Azenta from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, July 15th. Needham & Company LLC reduced their price objective on Azenta from $44.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, May 6th. Four equities 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. Based on data from MarketBeat, Azenta presently has an average rating of "Hold" and an average target price of $40.40.

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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