Synovus Financial Corp Purchases New Stake in Azenta, Inc. (NASDAQ:AZTA)

Synovus Financial Corp acquired a new stake in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 14,837 shares of the company's stock, valued at approximately $742,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Picton Mahoney Asset Management boosted its holdings in Azenta by 305.7% in the fourth quarter. Picton Mahoney Asset Management now owns 706 shares of the company's stock valued at $35,000 after acquiring an additional 532 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Azenta during the 4th quarter worth approximately $40,000. Covestor Ltd raised its holdings in Azenta by 64.2% in the fourth quarter. Covestor Ltd now owns 2,043 shares of the company's stock valued at $102,000 after buying an additional 799 shares during the period. KBC Group NV lifted its position in Azenta by 48.5% during the fourth quarter. KBC Group NV now owns 2,137 shares of the company's stock valued at $107,000 after buying an additional 698 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in 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 buying an additional 813 shares in the last quarter. 99.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AZTA. Stephens reissued an "overweight" rating and issued a $60.00 target price on shares of Azenta in a research note on Thursday, January 2nd. TD Cowen upgraded Azenta to a "hold" rating in a research note on Thursday, February 27th. Needham & Company LLC upped their target price on Azenta from $55.00 to $59.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, Evercore ISI raised their target price on Azenta from $50.00 to $52.00 and gave the company an "in-line" rating in a report on Thursday, February 6th.

Azenta Price Performance

AZTA traded up $0.02 during trading hours on Tuesday, reaching $25.05. 859,499 shares of the stock traded hands, compared to its average volume of 642,894. Azenta, Inc. has a fifty-two week low of $24.06 and a fifty-two week high of $63.58. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -8.41 and a beta of 1.66. The firm's fifty day simple moving average is $36.14 and its two-hundred day simple moving average is $43.65.

Azenta (NASDAQ:AZTA - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. Azenta had a positive return on equity of 1.25% and a negative net margin of 24.91%. On average, research analysts predict that Azenta, Inc. will post 0.53 earnings per share 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.