Front Street Capital Management Inc. Has $18.79 Million Position in Azenta, Inc. $AZTA

Key Points

• Front Street Capital Management increased its Azenta holdings by 211.7% to 889,009 shares, worth approximately $18.79 million and representing 1.93% of the company. Institutional investors collectively own 99.08% of Azenta.
• Azenta reported a quarterly loss of $0.04 per share, missing the $0.12 consensus estimate, while revenue of $144.79 million also fell short of expectations. Revenue nevertheless increased 1.4% year over year, but the company posted a negative net margin of 30.49%.
• Analyst sentiment is mixed: four analysts rate Azenta a Buy, two recommend Hold, and one recommends Sell. The stock has an average rating of Hold and an average price target of $40.40, compared with a recent price of $28.80.

Front Street Capital Management Inc. boosted its holdings in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) by 211.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 889,009 shares of the company's stock after acquiring an additional 603,757 shares during the period. Azenta accounts for 2.4% of Front Street Capital Management Inc.'s portfolio, making the stock its 15th largest position. Front Street Capital Management Inc. owned 1.93% of Azenta worth $18,785,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its position in shares of Azenta by 2,067.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 802 shares of the company's stock worth $27,000 after purchasing an additional 765 shares during the last quarter. Assetmark Inc. lifted its stake in Azenta by 54.1% in 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 period. Osaic Holdings Inc. lifted its stake in Azenta by 44.9% in the second quarter. Osaic Holdings Inc. now owns 1,242 shares of the company's stock valued at $39,000 after buying an additional 385 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in Azenta by 98.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,392 shares of the company's stock worth $46,000 after buying an additional 689 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Azenta by 141.2% during the 4th quarter. Van ECK Associates Corp now owns 1,585 shares of the company's stock worth $53,000 after buying an additional 928 shares during the period. Institutional investors and hedge funds own 99.08% of the company's stock.

Azenta Stock Performance

NASDAQ AZTA opened at $28.80 on Friday. Azenta, Inc. has a 52 week low of $15.93 and a 52 week high of $41.73. The stock's 50 day moving average price is $24.52 and its two-hundred day moving average price is $25.80. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -7.27 and a beta of 1.37.

Azenta (NASDAQ:AZTA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.16). The business had revenue of $144.79 million for the quarter, compared to the consensus estimate of $148.47 million. Azenta had a positive return on equity of 1.23% and a negative net margin of 30.49%.Azenta's revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 earnings per share.

Analyst Upgrades and Downgrades

AZTA has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Azenta from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, July 15th. Needham & Company LLC lowered their target price on shares of Azenta from $44.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $40.40.

Azenta Profile

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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