Azenta, Inc. (NASDAQ:AZTA) Stock Position Cut by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its stake in shares of Azenta, Inc. (NASDAQ:AZTA) by 18.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,421 shares of the company’s stock after selling 997 shares during the quarter. Park Avenue Securities LLC’s holdings in Azenta were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in Azenta by 20.0% during the third quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company’s stock worth $74,000 after purchasing an additional 256 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Azenta during the 4th quarter valued at $200,000. Net Worth Advisory Group bought a new stake in shares of Azenta in the 3rd quarter worth $205,000. Aigen Investment Management LP acquired a new stake in shares of Azenta in the third quarter valued at $214,000. Finally, Sanctuary Advisors LLC bought a new position in Azenta during the second quarter valued at about $222,000. 99.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AZTA has been the topic of several recent research reports. Needham & Company LLC lowered their price objective on shares of Azenta from $69.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Stephens restated an “overweight” rating and issued a $60.00 price target on shares of Azenta in a research report on Thursday, January 2nd. Finally, Evercore ISI cut their price objective on Azenta from $53.00 to $50.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.60.

Insider Activity at Azenta

In related news, CFO Herman Cueto sold 712 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $40.07, for a total value of $28,529.84. Following the completion of the transaction, the chief financial officer now owns 23,892 shares of the company’s stock, valued at $957,352.44. This represents a 2.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Marotta bought 12,717 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average price of $39.48 per share, with a total value of $502,067.16. Following the transaction, the chief executive officer now directly owns 99,612 shares in the company, valued at $3,932,681.76. This trade represents a 14.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 1,423 shares of company stock worth $57,020 in the last ninety days. 10.62% of the stock is currently owned by insiders.

Azenta Stock Performance

AZTA opened at $54.16 on Monday. The firm has a market cap of $2.47 billion, a P/E ratio of -18.24 and a beta of 1.47. The business has a 50 day moving average price of $48.89 and a 200 day moving average price of $49.07. Azenta, Inc. has a twelve month low of $38.82 and a twelve month high of $67.86.

Azenta (NASDAQ:AZTA) last posted its earnings results on Tuesday, November 12th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.08. The business had revenue of $170.00 million for the quarter, compared to analyst estimates of $169.66 million. Azenta had a negative net margin of 25.01% and a positive return on equity of 1.03%. Azenta’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.13 EPS. As a group, analysts anticipate that Azenta, Inc. will post 0.41 earnings per share for the current fiscal year.

Azenta 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.