Edgestream Partners L.P. Buys 50,479 Shares of Azenta, Inc. (NASDAQ:AZTA)

Edgestream Partners L.P. raised its position in shares of Azenta, Inc. (NASDAQ:AZTA) by 618.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,644 shares of the company’s stock after purchasing an additional 50,479 shares during the quarter. Edgestream Partners L.P.’s holdings in Azenta were worth $3,535,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AZTA. Principal Securities Inc. purchased a new position in shares of Azenta during the 4th quarter valued at $36,000. Benjamin F. Edwards & Company Inc. bought a new stake in Azenta during the first quarter valued at about $38,000. Northwest Financial Advisors purchased a new position in shares of Azenta in the fourth quarter valued at about $46,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Azenta in the first quarter worth about $49,000. Finally, Headlands Technologies LLC grew its position in shares of Azenta by 35.6% during the fourth quarter. Headlands Technologies LLC now owns 883 shares of the company’s stock worth $58,000 after purchasing an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 99.08% of the company’s stock.

Azenta Stock Performance

Shares of AZTA traded up $4.33 during mid-day trading on Monday, hitting $57.77. 430,611 shares of the stock were exchanged, compared to its average volume of 466,315. The company has a market cap of $3.11 billion, a PE ratio of -21.32 and a beta of 1.51. Azenta, Inc. has a 52-week low of $44.00 and a 52-week high of $69.16. The firm has a 50-day moving average of $52.85 and a two-hundred day moving average of $58.00.

Azenta (NASDAQ:AZTA) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. Azenta had a negative net margin of 23.12% and a positive return on equity of 0.81%. The company had revenue of $159.13 million for the quarter, compared to analysts’ expectations of $159.89 million. During the same quarter in the previous year, the business posted ($0.06) earnings per share. Azenta’s quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts predict that Azenta, Inc. will post 0.28 EPS for the current year.

Analyst Ratings Changes

AZTA has been the topic of a number of research analyst reports. Needham & Company LLC lowered their price target on Azenta from $75.00 to $69.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Jefferies Financial Group initiated coverage on shares of Azenta in a research report on Thursday, April 4th. They set a “hold” rating and a $64.00 price objective on the stock. Finally, Evercore ISI upped their target price on shares of Azenta from $52.00 to $53.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $67.00.

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.