Exchange Traded Concepts LLC Grows Stock Holdings in 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 lifted its holdings in Azenta, Inc. (NASDAQ:AZTA - Free Report) by 44.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 417,597 shares of the company's stock after buying an additional 128,084 shares during the period. Exchange Traded Concepts LLC owned about 0.91% of Azenta worth $12,854,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AZTA. Deutsche Bank AG grew its position in Azenta by 28.5% in the fourth quarter. Deutsche Bank AG now owns 4,199 shares of the company's stock worth $210,000 after acquiring an additional 931 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Azenta by 19.8% in the 4th quarter. Millennium Management LLC now owns 108,175 shares of the company's stock valued at $5,409,000 after purchasing an additional 17,899 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Azenta by 95.6% in the 4th quarter. Nuveen Asset Management LLC now owns 355,375 shares of the company's stock valued at $17,769,000 after purchasing an additional 173,699 shares during the last quarter. Quantinno Capital Management LP raised its holdings in Azenta by 119.4% during the 4th quarter. Quantinno Capital Management LP now owns 18,709 shares of the company's stock valued at $935,000 after buying an additional 10,183 shares during the period. Finally, Royal Bank of Canada raised its holdings in Azenta by 9.1% during the 4th quarter. Royal Bank of Canada now owns 573,443 shares of the company's stock valued at $28,673,000 after buying an additional 47,936 shares during the period. Hedge funds and other institutional investors own 99.08% of the company's stock.

Azenta Stock Up 2.0%

Shares of NASDAQ:AZTA opened at $31.06 on Friday. Azenta, Inc. has a 52-week low of $23.91 and a 52-week high of $55.63. The stock has a market cap of $1.42 billion, a P/E ratio of -12.83 and a beta of 1.65. The business's 50 day moving average is $30.95 and its 200 day moving average is $30.73.

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

Analyst Ratings Changes

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

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