Nuveen LLC Buys New Holdings 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 purchased a new position in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 335,002 shares of the company's stock, valued at approximately $11,604,000. Nuveen LLC owned 0.73% of Azenta as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AZTA. Farther Finance Advisors LLC grew its stake in Azenta by 788.1% in the 1st quarter. Farther Finance Advisors LLC now owns 968 shares of the company's stock valued at $33,000 after acquiring an additional 859 shares during the last quarter. Quarry LP purchased a new position in shares of Azenta in the 4th quarter worth about $110,000. Deutsche Bank AG raised its holdings 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 buying an additional 931 shares during the period. Alpine Global Management LLC purchased a new position in Azenta in the fourth quarter valued at approximately $218,000. Finally, Alpha Wealth Funds LLC purchased a new position in Azenta in the fourth quarter valued at approximately $225,000. 99.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on AZTA shares. Evercore ISI set a $33.00 price target on Azenta and gave the stock an "in-line" rating in a research note on Tuesday, August 5th. Needham & Company LLC decreased their price objective on shares of Azenta from $59.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Stephens started coverage on shares of Azenta in a report on Tuesday, July 22nd. They set an "equal weight" rating and a $35.00 price target for the company. Finally, 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 report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $35.75.

Azenta Stock Down 2.5%

Shares of Azenta stock traded down $0.79 on Monday, hitting $30.76. 478,258 shares of the company traded hands, compared to its average volume of 724,048. Azenta, Inc. has a 12-month low of $23.91 and a 12-month high of $55.63. The company has a 50-day moving average price of $31.32 and a 200 day moving average price of $32.41. The company has a market cap of $1.41 billion, a PE ratio of -12.71 and a beta of 1.59.

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