Vanguard Group Inc. Sells 89,960 Shares of Azenta, Inc. $AZTA

Key Points

• Vanguard Group Inc. reduced its stake in Azenta, Inc. by 2.0%, selling 89,960 shares and now holds approximately 4.43 million shares valued at $153.3 million.
• Analysts have mixed views on Azenta, with Raymond James upgrading the stock to "outperform" with a price target of $35, while Needham & Company lowered their target to $40.
• Azenta's recent quarterly earnings showed an EPS of $0.19, exceeding analyst expectations, but revenue fell short of estimates at $143.94 million.

Vanguard Group Inc. lessened its stake in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,425,449 shares of the company's stock after selling 89,960 shares during the quarter. Vanguard Group Inc. owned about 9.68% of Azenta worth $153,298,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Jupiter Asset Management Ltd. bought a new position in shares of Azenta during the 1st quarter worth about $2,566,000. Jefferies Financial Group Inc. bought a new position in shares of Azenta during the 1st quarter worth about $1,618,000. Premier Fund Managers Ltd boosted its position in shares of Azenta by 20.2% during the 1st quarter. Premier Fund Managers Ltd now owns 16,699 shares of the company's stock worth $578,000 after purchasing an additional 2,807 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Azenta by 1.2% during the 1st quarter. Federated Hermes Inc. now owns 771,091 shares of the company's stock worth $26,711,000 after purchasing an additional 8,902 shares in the last quarter. Finally, Bryce Point Capital LLC boosted its position in shares of Azenta by 74.6% during the 1st quarter. Bryce Point Capital LLC now owns 13,418 shares of the company's stock worth $465,000 after purchasing an additional 5,731 shares in the last quarter. Institutional investors own 99.08% of the company's stock.

Azenta Stock Performance

Shares of Azenta stock traded down $0.19 during mid-day trading on Tuesday, hitting $30.57. 486,359 shares of the stock were exchanged, compared to its average volume of 720,342. Azenta, Inc. has a 12 month low of $23.91 and a 12 month high of $55.63. The company has a 50-day simple moving average of $31.34 and a 200 day simple moving average of $32.40. The company has a market capitalization of $1.40 billion, a P/E ratio of -12.63 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 EPS for the quarter, topping the consensus estimate of $0.13 by $0.06. Azenta had a negative net margin of 18.45% and a positive return on equity of 1.35%. The firm had revenue of $143.94 million for the quarter, compared to analysts' expectations of $149.64 million. During the same quarter last year, the firm earned $0.14 EPS. The company's quarterly revenue was up .0% compared to the same quarter last year. Analysts predict that Azenta, Inc. will post 0.53 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in 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 target on the stock in a research report on Wednesday, August 6th. Evercore ISI set a $33.00 price target on shares of Azenta and gave the company an "in-line" rating in a research report on Tuesday, August 5th. Stephens started coverage on shares of Azenta in a research report on Tuesday, July 22nd. They issued an "equal weight" rating and a $35.00 price target on the stock. Finally, Needham & Company LLC dropped their price target on shares of Azenta from $59.00 to $40.00 and set a "buy" rating on the stock in a research report 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price 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.