Azenta, Inc. (NASDAQ:AZTA) Shares Sold by Covestor Ltd

Covestor Ltd lowered its stake in Azenta, Inc. (NASDAQ:AZTA) by 18.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,244 shares of the company’s stock after selling 289 shares during the quarter. Covestor Ltd’s holdings in Azenta were worth $60,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in Azenta by 16.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,970,964 shares of the company’s stock valued at $156,331,000 after acquiring an additional 421,719 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Azenta by 16.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,298,856 shares of the company’s stock worth $62,917,000 after purchasing an additional 183,040 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Azenta by 1.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,298,040 shares of the company’s stock worth $278,783,000 after purchasing an additional 100,826 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Azenta by 433.6% in the second quarter. Squarepoint Ops LLC now owns 73,055 shares of the company’s stock valued at $3,844,000 after buying an additional 59,364 shares during the last quarter. Finally, Edgestream Partners L.P. lifted its holdings in Azenta by 618.2% during the 1st quarter. Edgestream Partners L.P. now owns 58,644 shares of the company’s stock worth $3,535,000 after buying an additional 50,479 shares during the last quarter. 99.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AZTA has been the subject of a number of research analyst reports. Needham & Company LLC lowered their price target on Azenta from $69.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday. Evercore ISI lowered their target price on shares of Azenta from $53.00 to $50.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Azenta has an average rating of “Hold” and an average target price of $63.60.

Insider Transactions at Azenta

In other Azenta news, CFO Herman Cueto sold 1,595 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $43.68, for a total transaction of $69,669.60. Following the completion of the transaction, the chief financial officer now owns 24,604 shares in the company, valued at approximately $1,074,702.72. The trade was a 6.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.77% of the company’s stock.

Azenta Price Performance

NASDAQ:AZTA opened at $42.63 on Friday. The firm has a market capitalization of $2.09 billion, a P/E ratio of -14.35 and a beta of 1.48. The business has a 50 day simple moving average of $45.68 and a 200 day simple moving average of $50.54. Azenta, Inc. has a 12-month low of $40.24 and a 12-month high of $69.16.

Azenta (NASDAQ:AZTA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.18 earnings per share (EPS) for the quarter, beating 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 0.98%. The company had revenue of $170.00 million during the quarter, compared to the consensus estimate of $169.66 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. Research analysts anticipate that Azenta, Inc. will post 0.42 EPS for the current fiscal 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.