Nuveen LLC Buys New Stake in Azenta, Inc. $AZTA

Key Points

• Nuveen LLC has made a new investment in Azenta, Inc., purchasing 335,002 shares valued at approximately $11.6 million, representing 0.73% ownership.
• Analysts have varying ratings on Azenta, with a consensus rating of "Hold" and a target price of approximately $35.75, while Needham & Company recently reduced its target price from $59 to $40.
• In its latest earnings report, Azenta achieved an EPS of $0.19, exceeding expectations, but reported revenue of $143.94 million, below the consensus estimate of $149.64 million.

Nuveen LLC acquired a new position in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 335,002 shares of the company's stock, valued at approximately $11,604,000. Nuveen LLC owned about 0.73% of Azenta as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AZTA. Raymond James Financial Inc. acquired a new stake in Azenta in the fourth quarter valued at about $2,331,000. CANADA LIFE ASSURANCE Co raised its position in shares of Azenta by 13.5% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 43,554 shares of the company's stock worth $2,178,000 after purchasing an additional 5,182 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Azenta by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,033,171 shares of the company's stock worth $151,659,000 after purchasing an additional 26,929 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Azenta during the 4th quarter worth approximately $1,034,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Azenta by 4.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 31,850 shares of the company's stock worth $1,593,000 after acquiring an additional 1,356 shares during the period. Hedge funds and other institutional investors own 99.08% of the company's stock.

Azenta Stock Down 0.9%

Shares of NASDAQ AZTA traded down $0.28 during trading on Thursday, hitting $29.92. 493,950 shares of the company traded hands, compared to its average volume of 718,215. Azenta, Inc. has a 1 year low of $23.91 and a 1 year high of $55.63. The company has a 50-day moving average price of $31.35 and a 200-day moving average price of $32.26. The firm has a market capitalization of $1.37 billion, a P/E ratio of -12.36 and a beta of 1.59.

Azenta (NASDAQ:AZTA - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.06. The business had revenue of $143.94 million for the quarter, compared to analyst estimates of $149.64 million. Azenta had a negative net margin of 18.45% and a positive return on equity of 1.35%. The business's quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 EPS. Research analysts predict that Azenta, Inc. will post 0.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on AZTA. Raymond James Financial raised 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 price objective on shares of Azenta and gave the company an "in-line" rating in a research note on Tuesday, August 5th. Stephens assumed coverage on shares of Azenta in a research note on Tuesday, July 22nd. They set an "equal weight" rating and a $35.00 price objective for the company. Finally, Needham & Company LLC lowered their price objective on shares of Azenta from $59.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $35.75.

Azenta Company 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.