Zions Bancorporation National Association UT Buys New Stake in Azenta, Inc. (NASDAQ:AZTA)

Key Points

• Zions Bancorporation National Association UT invested $1.03 million in Azenta, acquiring 29,841 shares, representing approximately 0.07% of the company.
• Azenta reported a $0.19 EPS for the quarter, exceeding analysts' expectations of $0.13, but its revenue of $143.94 million fell short of the forecast of $149.64 million.
• A consensus rating for Azenta is "Hold" with an average target price of $35.75, with various analysts issuing differing ratings and target prices recently.

Zions Bancorporation National Association UT bought a new position in Azenta, Inc. (NASDAQ:AZTA - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 29,841 shares of the company's stock, valued at approximately $1,034,000. Zions Bancorporation National Association UT owned approximately 0.07% of Azenta as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its position in Azenta by 788.1% during the first 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. Covestor Ltd boosted its stake in Azenta by 64.2% during the 4th quarter. Covestor Ltd now owns 2,043 shares of the company's stock valued at $102,000 after purchasing an additional 799 shares during the last quarter. Quarry LP purchased a new stake in Azenta in the 4th quarter valued at $110,000. Sterling Capital Management LLC lifted its position in shares of Azenta by 39.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,856 shares of the company's stock valued at $143,000 after purchasing an additional 813 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake 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 worth $168,000 after buying an additional 396 shares during the last quarter. Institutional investors own 99.08% of the company's stock.

Azenta Stock Performance

Shares of NASDAQ AZTA traded down $1.56 during midday trading on Thursday, hitting $30.52. 254,967 shares of the company's stock traded hands, compared to its average volume of 776,239. The firm has a fifty day moving average of $31.23 and a 200 day moving average of $33.97. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -12.52 and a beta of 1.59. Azenta, Inc. has a 1 year low of $23.91 and a 1 year high of $55.63.

Azenta (NASDAQ:AZTA - Get Free Report) last issued its quarterly 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. Azenta had a negative net margin of 18.45% and a positive return on equity of 1.35%. The business had revenue of $143.94 million for the quarter, compared to the consensus estimate of $149.64 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The company's revenue for the quarter was up .0% on a year-over-year basis. On average, equities analysts anticipate that Azenta, Inc. will post 0.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Needham & Company LLC decreased their target price on Azenta from $59.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Evercore ISI set a $33.00 target price on shares of Azenta and gave the stock an "in-line" rating in a research report on Tuesday, August 5th. Raymond James Financial raised Azenta from a "market perform" rating to an "outperform" rating and set a $35.00 price objective on the stock in a report on Wednesday, August 6th. Finally, Stephens assumed coverage on shares of Azenta in a research report on Tuesday, July 22nd. They set an "equal weight" rating and a $35.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average 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.