Meros Investment Management LP Invests $5.63 Billion in Azenta, Inc. $AZTA

Meros Investment Management LP acquired a new position in Azenta, Inc. (NASDAQ:AZTA) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 220,431 shares of the company’s stock, valued at approximately $5,625,399,000. Azenta accounts for approximately 1.8% of Meros Investment Management LP’s portfolio, making the stock its 24th largest holding.

Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Azenta during the second quarter valued at about $192,152,000. Conestoga Capital Advisors LLC boosted its stake in shares of Azenta by 116.1% in the first quarter. Conestoga Capital Advisors LLC now owns 2,844,546 shares of the company’s stock worth $60,105,000 after acquiring an additional 1,528,145 shares during the period. Front Street Capital Management Inc. purchased a new stake in shares of Azenta during the second quarter worth about $33,212,000. Millennium Management LLC grew its position in shares of Azenta by 41.6% during the third quarter. Millennium Management LLC now owns 1,698,562 shares of the company’s stock worth $48,783,000 after purchasing an additional 499,216 shares in the last quarter. Finally, Scopia Capital Management LP bought a new stake in Azenta during the 3rd quarter valued at approximately $14,026,000. Institutional investors own 99.08% of the company’s stock.

Wall Street Analyst Weigh In

AZTA has been the topic of a number of research analyst reports. Weiss Ratings cut Azenta from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Needham & Company LLC lifted their price objective on shares of Azenta from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.20.

Azenta Stock Performance

Shares of AZTA opened at $33.21 on Wednesday. The company’s fifty day moving average is $28.32 and its 200 day moving average is $25.07. Azenta, Inc. has a fifty-two week low of $15.93 and a fifty-two week high of $41.73. The stock has a market capitalization of $1.45 billion, a PE ratio of -12.03 and a beta of 1.37.

Azenta (NASDAQ:AZTA) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.11 by $0.05. Azenta had a negative net margin of 20.63% and a positive return on equity of 1.18%. The business had revenue of $161.18 million during the quarter, compared to analyst estimates of $149.31 million.

Azenta Company Profile

Azenta, Inc (NASDAQ: AZTA) is a life sciences technology company specializing in sample management, cryogenic storage and genomic services for research and clinical applications. Formerly the Life Sciences division of Brooks Automation, Azenta provides integrated solutions that enable customers to store, track and analyze biological samples with high levels of automation, data integrity and efficiency. Its offerings span automated storage systems, biorepository management software and end‐to‐end sample tracking workflows.

In addition to hardware and informatics platforms for sample storage, Azenta’s Genomics business delivers next‐generation sequencing (NGS), DNA synthesis, and molecular biology services.