Azenta, Inc. $AZTA Stake Lessened by Vanguard Group Inc.

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. reduced its position in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,425,449 shares of the company's stock after selling 89,960 shares during the period. Vanguard Group Inc. owned about 9.68% of Azenta worth $153,298,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AZTA. Farther Finance Advisors LLC grew its position in shares of Azenta by 788.1% during the 1st quarter. Farther Finance Advisors LLC now owns 968 shares of the company's stock valued at $33,000 after buying an additional 859 shares during the last quarter. Quarry LP bought a new stake in shares of Azenta during the 4th quarter valued at about $110,000. Deutsche Bank AG grew its position in shares of Azenta by 28.5% during the 4th 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 last quarter. Alpine Global Management LLC bought a new stake in shares of Azenta during the 4th quarter valued at about $218,000. Finally, Alpha Wealth Funds LLC bought a new stake in shares of Azenta during the 4th quarter valued at about $225,000. 99.08% of the stock is currently owned by institutional investors.

Azenta Price Performance

Shares of NASDAQ AZTA traded up $1.71 during midday trading on Friday, reaching $31.55. 531,318 shares of the company traded hands, compared to its average volume of 719,375. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -13.04 and a beta of 1.59. The stock has a 50-day moving average price of $31.32 and a 200 day moving average price of $32.71. Azenta, Inc. has a 52 week low of $23.91 and a 52 week high of $55.63.

Azenta (NASDAQ:AZTA - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $149.64 million. During the same quarter in the prior year, the firm posted $0.14 EPS. Azenta's revenue was up .0% compared to the same quarter last year. As a group, analysts expect that Azenta, Inc. will post 0.53 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AZTA. 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 research report on Wednesday, August 6th. Stephens began coverage on shares of Azenta in a research report on Tuesday, July 22nd. They set an "equal weight" rating and a $35.00 price objective for the company. Evercore ISI set a $33.00 price objective on shares of Azenta and gave the company an "in-line" rating in a research report on Tuesday, August 5th. Finally, Needham & Company LLC reduced their target price 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 research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently 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.