Azenta, Inc. $AZTA Holdings Lowered by Rhumbline Advisers

Key Points

• Rhumbline Advisers reduced its stake in Azenta, Inc. by 13.6%, now holding approximately 0.21% of the company, valued at $3.34 million.
• UBS AM and other institutional investors increased their stakes, highlighting a strong interest in Azenta, with over 99% of shares owned by institutional investors.
• Analysts have mixed ratings on Azenta's stock, with a consensus target price of $35.75 and a trend of upgrades pointing to potential growth.

Rhumbline Advisers cut its stake in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) by 13.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 96,504 shares of the company's stock after selling 15,149 shares during the period. Rhumbline Advisers owned approximately 0.21% of Azenta worth $3,343,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AZTA. Farther Finance Advisors LLC lifted its position in Azenta by 788.1% during the 1st quarter. Farther Finance Advisors LLC now owns 968 shares of the company's stock worth $33,000 after acquiring an additional 859 shares in the last quarter. State of Wyoming lifted its position in Azenta by 77.1% during the 1st quarter. State of Wyoming now owns 2,343 shares of the company's stock worth $81,000 after acquiring an additional 1,020 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Azenta by 13,184.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,524 shares of the company's stock worth $87,000 after acquiring an additional 2,505 shares in the last quarter. Quarry LP raised its position in shares of Azenta by 41.5% in the 1st quarter. Quarry LP now owns 3,120 shares of the company's stock valued at $108,000 after purchasing an additional 915 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Azenta by 8.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,842 shares of the company's stock valued at $168,000 after purchasing an additional 396 shares in the last quarter. 99.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AZTA has been the topic of a number of recent analyst reports. Stephens initiated coverage on Azenta in a research report on Tuesday, July 22nd. They issued an "equal weight" rating and a $35.00 target price on the stock. Evercore ISI set a $33.00 target price on Azenta and gave the company an "in-line" rating in a research report on Tuesday, August 5th. Finally, Raymond James Financial raised Azenta from a "market perform" rating to an "outperform" rating and set a $35.00 target price on the stock in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $35.75.

Azenta Trading Up 0.1%

AZTA traded up $0.03 during trading on Friday, reaching $31.09. 2,052,486 shares of the company were exchanged, compared to its average volume of 488,771. 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 $1.43 billion, a P/E ratio of -12.85 and a beta of 1.65. The firm has a 50 day moving average of $30.90 and a 200 day moving average of $30.66.

Azenta (NASDAQ:AZTA - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, topping 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 company had revenue of $143.94 million during the quarter, compared to analysts' expectations of $149.64 million. During the same quarter in the prior year, the business posted $0.14 earnings per share. The company's revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts forecast that Azenta, Inc. will post 0.53 earnings per share for the current fiscal year.

About Azenta

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.