Creative Planning Reduces Position in Azenta, Inc. (NASDAQ:AZTA)

Posted by on Oct 19th, 2023

Creative Planning cut its holdings in shares of Azenta, Inc. (NASDAQ:AZTA – Free Report) by 7.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,564 shares of the company’s stock after selling 957 shares during the quarter. Creative Planning’s holdings in Azenta were worth $586,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. ETF Managers Group LLC bought a new stake in shares of Azenta during the first quarter valued at about $132,000. Dark Forest Capital Management LP bought a new stake in shares of Azenta during the first quarter valued at about $147,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Azenta by 11.1% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,549 shares of the company’s stock valued at $158,000 after buying an additional 354 shares during the period. FMR LLC bought a new stake in shares of Azenta during the second quarter valued at about $172,000. Finally, Verition Fund Management LLC bought a new stake in shares of Azenta during the second quarter valued at about $207,000. 99.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider David C. Gray sold 4,311 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $57.24, for a total transaction of $246,761.64. Following the sale, the insider now owns 87,919 shares of the company’s stock, valued at $5,032,483.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.67% of the stock is currently owned by insiders.

Azenta Trading Down 2.7 %

AZTA stock opened at $50.68 on Thursday. The company’s 50 day moving average is $52.41 and its 200 day moving average is $47.31. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -97.48 and a beta of 1.51. Azenta, Inc. has a 1-year low of $36.01 and a 1-year high of $63.60.

Azenta (NASDAQ:AZTA – Get Free Report) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.16. Azenta had a negative net margin of 6.09% and a positive return on equity of 0.84%. The business had revenue of $165.95 million for the quarter, compared to analysts’ expectations of $153.42 million. During the same period last year, the business earned $0.12 earnings per share. The business’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, sell-side analysts forecast that Azenta, Inc. will post 0.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AZTA. Raymond James began coverage on Azenta in a research report on Tuesday, July 18th. They set a “market perform” rating on the stock. Needham & Company LLC upped their price objective on shares of Azenta from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, Stephens upped their price objective on shares of Azenta from $45.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Azenta has an average rating of “Moderate Buy” and a consensus target price of $64.50.

Get Our Latest Stock Report on AZTA

About Azenta

(Free Report)

Azenta, Inc provides life science sample exploration and management solutions for the life sciences market in North America, Europe, China, the Asia Pacific, and internationally. The company operates through two reportable segments, Life Sciences Products and Life Sciences Services. The Life Sciences Products segment offers automated cold sample management systems for compound and biological sample storage; equipment for sample preparation and handling; consumables; and instruments that help customers in managing samples throughout their research discovery and development workflows.

Read More

Institutional Ownership by Quarter for Azenta (NASDAQ:AZTA)

Receive News & Ratings for Azenta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Azenta and related companies with MarketBeat.com's FREE daily email newsletter.