HighPoint Advisor Group LLC Makes New Investment in Azenta, Inc. (NASDAQ:AZTA)

HighPoint Advisor Group LLC purchased a new position in Azenta, Inc. (NASDAQ:AZTA) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,587 shares of the company’s stock, valued at approximately $364,000.

A number of other hedge funds also recently modified their holdings of AZTA. Retirement Systems of Alabama increased its stake in Azenta by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 75,339 shares of the company’s stock worth $4,908,000 after purchasing an additional 230 shares in the last quarter. Headlands Technologies LLC increased 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 acquiring an additional 232 shares in the last quarter. Covestor Ltd raised its holdings in shares of Azenta by 17.5% during the third quarter. Covestor Ltd now owns 1,714 shares of the company’s stock worth $86,000 after acquiring an additional 255 shares during the period. Raymond James & Associates lifted its position in Azenta by 0.3% in the 4th quarter. Raymond James & Associates now owns 96,126 shares of the company’s stock valued at $6,262,000 after acquiring an additional 285 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Azenta by 3.8% in the 4th quarter. US Bancorp DE now owns 13,239 shares of the company’s stock worth $862,000 after purchasing an additional 480 shares during the period. Institutional investors and hedge funds own 99.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on AZTA shares. Evercore ISI dropped their price target on Azenta from $64.00 to $60.00 and set an “in-line” rating on the stock in a research note on Thursday, April 4th. Jefferies Financial Group began coverage on Azenta in a research report on Thursday, April 4th. They issued a “hold” rating and a $64.00 target price on the stock. Finally, Needham & Company LLC cut their target price on Azenta from $75.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Azenta currently has an average rating of “Hold” and a consensus target price of $68.40.

Azenta Stock Performance

NASDAQ:AZTA opened at $56.73 on Friday. Azenta, Inc. has a 52-week low of $43.37 and a 52-week high of $69.16. The company has a market cap of $3.06 billion, a P/E ratio of -20.93 and a beta of 1.51. The stock’s 50-day simple moving average is $52.59 and its 200 day simple moving average is $59.35.

Azenta (NASDAQ:AZTA) last posted 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. The firm had revenue of $159.13 million for the quarter, compared to analyst estimates of $159.89 million. Azenta had a positive return on equity of 0.81% and a negative net margin of 23.12%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) EPS. As a group, equities analysts predict that Azenta, Inc. will post 0.3 earnings per share for the current fiscal year.

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.