Azenta, Inc. (NASDAQ:AZTA) Director Purchases $495,000.00 in Stock

Azenta, Inc. (NASDAQ:AZTA) Director William L. Cornog purchased 12,500 shares of the stock in a transaction dated Monday, November 18th. The shares were purchased at an average price of $39.60 per share, with a total value of $495,000.00. Following the completion of the transaction, the director now owns 14,755 shares of the company’s stock, valued at approximately $584,298. This trade represents a 554.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Azenta Trading Up 9.1 %

Azenta stock opened at $44.65 on Thursday. The company has a fifty day simple moving average of $45.32 and a 200-day simple moving average of $50.22. The stock has a market cap of $2.18 billion, a P/E ratio of -15.03 and a beta of 1.48. Azenta, Inc. has a 12-month low of $38.82 and a 12-month high of $69.16.

Azenta (NASDAQ:AZTA) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.08. Azenta had a positive return on equity of 1.03% and a negative net margin of 25.01%. The business had revenue of $170.00 million for the quarter, compared to the consensus estimate of $169.66 million. During the same quarter in the prior year, the business posted $0.13 EPS. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that Azenta, Inc. will post 0.4 earnings per share for the current fiscal year.

Institutional Trading of Azenta

Several institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Azenta by 16.5% in the second 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 period. Allspring Global Investments Holdings LLC grew its holdings in 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 acquiring an additional 183,040 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings 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 valued at $278,783,000 after acquiring an additional 100,826 shares during the period. Squarepoint Ops LLC lifted 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 acquiring an additional 59,364 shares during the period. Finally, Royce & Associates LP grew its stake in shares of Azenta by 7.8% during the 3rd quarter. Royce & Associates LP now owns 739,977 shares of the company’s stock worth $35,844,000 after purchasing an additional 53,584 shares during the period. Hedge funds and other institutional investors own 99.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AZTA. Evercore ISI decreased their target price on Azenta from $53.00 to $50.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Needham & Company LLC reduced their price target on shares of Azenta from $69.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $63.60.

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.