Azenta (NASDAQ:AZTA) Shares Gap Up – What’s Next?

Azenta, Inc. (NASDAQ:AZTA) shares gapped up before the market opened on Monday . The stock had previously closed at $41.22, but opened at $42.42. Azenta shares last traded at $43.56, with a volume of 22,283 shares traded.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $69.00 target price on shares of Azenta in a research report on Wednesday, August 7th. Evercore ISI lowered their price objective on shares of Azenta from $53.00 to $50.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $66.40.

Azenta Trading Up 8.5 %

The company has a market cap of $2.19 billion, a P/E ratio of -15.80 and a beta of 1.48. The business has a 50 day moving average price of $46.31 and a 200-day moving average price of $50.92.

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

Insider Activity

In other Azenta news, CFO Herman Cueto sold 1,595 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $43.68, for a total value of $69,669.60. Following the transaction, the chief financial officer now directly owns 24,604 shares of the company’s stock, valued at $1,074,702.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. QRG Capital Management Inc. raised its holdings in Azenta by 6.6% in the 3rd quarter. QRG Capital Management Inc. now owns 6,156 shares of the company’s stock valued at $298,000 after acquiring an additional 383 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Azenta by 20.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company’s stock valued at $74,000 after purchasing an additional 256 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Azenta by 1.9% during the third quarter. Nisa Investment Advisors LLC now owns 36,710 shares of the company’s stock worth $1,778,000 after buying an additional 700 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Azenta by 16.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,298,856 shares of the company’s stock worth $62,917,000 after buying an additional 183,040 shares in the last quarter. Finally, Net Worth Advisory Group bought a new position in shares of Azenta in the 3rd quarter valued at $205,000. Institutional investors and hedge funds own 99.08% of the company’s stock.

About Azenta

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.