Exchange Traded Concepts LLC Raises Holdings in Azenta, Inc. (NASDAQ:AZTA)

Exchange Traded Concepts LLC increased its position in Azenta, Inc. (NASDAQ:AZTA) by 7.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 375,627 shares of the company’s stock after acquiring an additional 25,545 shares during the quarter. Exchange Traded Concepts LLC owned about 0.82% of Azenta worth $18,781,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in shares of Azenta by 20.0% in the third quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company’s stock worth $74,000 after acquiring an additional 256 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in Azenta by 150.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock worth $84,000 after purchasing an additional 955 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Azenta in the 4th quarter worth about $200,000. Net Worth Advisory Group purchased a new position in Azenta during the 3rd quarter valued at about $205,000. Finally, Aigen Investment Management LP bought a new stake in shares of Azenta during the third quarter valued at about $214,000. 99.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on AZTA. Stephens restated an “overweight” rating and issued a $60.00 price objective on shares of Azenta in a research report on Thursday, January 2nd. Needham & Company LLC cut their price target on shares of Azenta from $69.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Finally, Evercore ISI reduced their price target on shares of Azenta from $53.00 to $50.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.60.

Azenta Stock Down 1.0 %

NASDAQ AZTA opened at $54.18 on Friday. The stock’s 50 day moving average is $48.64 and its 200 day moving average is $49.09. The firm has a market capitalization of $2.48 billion, a PE ratio of -18.26 and a beta of 1.47. Azenta, Inc. has a twelve month low of $38.82 and a twelve month high of $67.86.

Azenta (NASDAQ:AZTA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.08. Azenta had a negative net margin of 25.01% and a positive return on equity of 1.03%. The company had revenue of $170.00 million during the quarter, compared to analyst estimates of $169.66 million. During the same period last year, the business earned $0.13 EPS. Azenta’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, research analysts anticipate that Azenta, Inc. will post 0.41 earnings per share for the current year.

Insider Activity

In other news, CFO Herman Cueto sold 712 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $40.07, for a total transaction of $28,529.84. Following the completion of the transaction, the chief financial officer now directly owns 23,892 shares in the company, valued at $957,352.44. This trade represents a 2.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Marotta purchased 12,717 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of $39.48 per share, for a total transaction of $502,067.16. Following the purchase, the chief executive officer now owns 99,612 shares in the company, valued at $3,932,681.76. This represents a 14.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 1,423 shares of company stock worth $57,020. Insiders own 10.62% of the company’s stock.

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.