Exchange Traded Concepts LLC Buys 128,084 Shares of Azenta, Inc. $AZTA

Key Points

• Exchange Traded Concepts LLC increased its stake in Azenta, Inc. by 44.2%, now holding approximately 417,597 shares valued at $12.85 million.
• Azenta recently reported earnings of $0.19 per share, exceeding the consensus estimate of $0.13, while revenue was $143.94 million, slightly below expectations.
• Analysts have varied views on Azenta's stock, with a current consensus rating of "Hold" and a price target averaging $35.75.

Exchange Traded Concepts LLC increased its stake in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) by 44.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 417,597 shares of the company's stock after purchasing an additional 128,084 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.91% of Azenta worth $12,854,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in AZTA. Deutsche Bank AG lifted its stake in Azenta by 28.5% in the fourth quarter. Deutsche Bank AG now owns 4,199 shares of the company's stock valued at $210,000 after acquiring an additional 931 shares during the last quarter. Millennium Management LLC lifted its stake in Azenta by 19.8% in the fourth quarter. Millennium Management LLC now owns 108,175 shares of the company's stock valued at $5,409,000 after acquiring an additional 17,899 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Azenta by 95.6% in the fourth quarter. Nuveen Asset Management LLC now owns 355,375 shares of the company's stock valued at $17,769,000 after acquiring an additional 173,699 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Azenta by 119.4% in the fourth quarter. Quantinno Capital Management LP now owns 18,709 shares of the company's stock valued at $935,000 after acquiring an additional 10,183 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Azenta by 9.1% in the fourth quarter. Royal Bank of Canada now owns 573,443 shares of the company's stock valued at $28,673,000 after acquiring an additional 47,936 shares during the last quarter. 99.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AZTA. Raymond James Financial upgraded shares of Azenta from a "market perform" rating to an "outperform" rating and set a $35.00 target price for the company in a research note on Wednesday, August 6th. Evercore ISI set a $33.00 target price on shares of Azenta and gave the company an "in-line" rating in a research note on Tuesday, August 5th. Finally, Stephens began coverage on shares of Azenta in a research note on Tuesday, July 22nd. They issued an "equal weight" rating and a $35.00 target price for the company. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $35.75.

Azenta Price Performance

AZTA stock traded up $0.29 on Monday, reaching $31.38. 479,409 shares of the company were exchanged, compared to its average volume of 564,829. Azenta, Inc. has a 12 month low of $23.91 and a 12 month high of $55.63. The stock's fifty day moving average price is $30.89 and its 200 day moving average price is $30.43. The firm has a market capitalization of $1.44 billion, a PE ratio of -12.97 and a beta of 1.65.

Azenta (NASDAQ:AZTA - Get Free Report) last announced its 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 for the quarter, compared to analyst estimates of $149.64 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Azenta's revenue was up .0% compared to the same quarter last year. As a group, research analysts expect that Azenta, Inc. will post 0.53 EPS for the current fiscal year.

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.