Pathstone Family Office LLC Boosts Stake in Azenta, Inc. (NASDAQ:AZTA)

Posted by on Mar 14th, 2023

Pathstone Family Office LLC increased its position in Azenta, Inc. (NASDAQ:AZTA – Get Rating) by 13.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 16,468 shares of the company’s stock after purchasing an additional 1,934 shares during the period. Pathstone Family Office LLC’s holdings in Azenta were worth $706,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC lifted its holdings in shares of Azenta by 29.5% in the 3rd quarter. Signaturefd LLC now owns 1,349 shares of the company’s stock valued at $58,000 after purchasing an additional 307 shares during the last quarter. Bessemer Group Inc. raised its stake in Azenta by 3.6% during the 3rd quarter. Bessemer Group Inc. now owns 101,367 shares of the company’s stock valued at $4,345,000 after acquiring an additional 3,502 shares during the last quarter. Congress Wealth Management LLC DE raised its stake in Azenta by 6.0% during the 3rd quarter. Congress Wealth Management LLC DE now owns 132,734 shares of the company’s stock valued at $5,689,000 after acquiring an additional 7,506 shares during the last quarter. Artisan Partners Limited Partnership purchased a new stake in Azenta during the 2nd quarter valued at approximately $221,422,000. Finally, Wipfli Financial Advisors LLC purchased a new stake in Azenta during the 3rd quarter valued at approximately $32,000. 96.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on AZTA shares. B. Riley reduced their price objective on Azenta from $77.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, February 10th. Stephens cut Azenta from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $65.00 to $60.00 in a research report on Thursday, February 9th. TheStreet upgraded Azenta from a “d+” rating to a “c-” rating in a research report on Tuesday, December 13th. Finally, Needham & Company LLC dropped their target price on Azenta from $78.00 to $68.00 in a research report on Thursday, February 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.80.

Azenta Price Performance

AZTA opened at $40.40 on Tuesday. The stock has a market cap of $2.79 billion, a P/E ratio of 1.46 and a beta of 1.58. The stock’s 50 day simple moving average is $52.28 and its 200 day simple moving average is $51.46. Azenta, Inc. has a 1-year low of $37.61 and a 1-year high of $89.20.

Azenta (NASDAQ:AZTA – Get Rating) last announced its earnings results on Wednesday, February 8th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The firm had revenue of $178.00 million for the quarter, compared to analysts’ expectations of $181.38 million. Azenta had a return on equity of 1.17% and a net margin of 349.08%. Azenta’s quarterly revenue was up 27.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 EPS. Research analysts expect that Azenta, Inc. will post 0.28 EPS for the current fiscal year.

About Azenta

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Azenta, Inc is a provider of life sciences sample exploration and management solutions for the life sciences market. It operates through the Life Sciences Products and Life Sciences Services segments. The Life Sciences Products segment is involved in automated cold storage solutions for biological and chemical compound samples.

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Institutional Ownership by Quarter for Azenta (NASDAQ:AZTA)

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