Bridges Investment Management Inc. Buys New Stake in Azenta, Inc. (NASDAQ:AZTA)

Bridges Investment Management Inc. purchased a new position in shares of Azenta, Inc. (NASDAQ:AZTA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,245 shares of the company’s stock, valued at approximately $276,000.

A number of other institutional investors have also modified their holdings of the stock. Principal Securities Inc. acquired a new stake in Azenta during the fourth quarter worth about $36,000. Hantz Financial Services Inc. acquired a new stake in shares of Azenta during the 2nd quarter worth approximately $30,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Azenta during the 1st quarter valued at approximately $38,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Azenta in the 1st quarter valued at $49,000. Finally, Lazard Asset Management LLC purchased a new stake in Azenta during the first quarter worth $130,000. Hedge funds and other institutional investors own 99.08% of the company’s stock.

Azenta Stock Down 0.5 %

AZTA opened at $49.27 on Monday. The firm’s fifty day simple moving average is $52.36 and its two-hundred day simple moving average is $53.85. Azenta, Inc. has a 52-week low of $44.00 and a 52-week high of $69.16. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -18.18 and a beta of 1.47.

Azenta (NASDAQ:AZTA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. Azenta had a negative net margin of 23.66% and a positive return on equity of 0.89%. The firm had revenue of $173.00 million for the quarter, compared to analyst estimates of $166.14 million. During the same period last year, the company posted $0.13 EPS. Azenta’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, research analysts forecast that Azenta, Inc. will post 0.33 EPS for the current year.

Analyst Ratings Changes

AZTA has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $69.00 price objective on shares of Azenta in a report on Wednesday, August 7th. Evercore ISI lifted their price target on Azenta from $52.00 to $53.00 and gave the company an “in-line” rating in a research note on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.