Azenta (NASDAQ:AZTA) Trading Down 5.6% – Here’s What Happened

Azenta, Inc. (NASDAQ:AZTA) shares fell 5.6% during trading on Friday . The company traded as low as $51.37 and last traded at $51.02. 143,586 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 434,872 shares. The stock had previously closed at $54.04.

Analyst Ratings Changes

Several analysts have issued reports on the company. Needham & Company LLC lifted their price target on Azenta from $55.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI boosted their price target on Azenta from $50.00 to $52.00 and gave the company an “in-line” rating in a research note on Thursday. Finally, Stephens reaffirmed an “overweight” rating and issued a $60.00 price objective on shares of Azenta in a report on Thursday, January 2nd.

Azenta Stock Performance

The firm has a market cap of $2.37 billion, a P/E ratio of -17.39 and a beta of 1.47. The stock’s 50 day simple moving average is $50.49 and its 200 day simple moving average is $49.10.

Azenta (NASDAQ:AZTA) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Azenta had a negative net margin of 25.01% and a positive return on equity of 1.03%. As a group, analysts forecast that Azenta, Inc. will post 0.41 EPS for the current fiscal year.

Insider Activity

In related news, Director William L. Cornog bought 12,500 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were purchased at an average price of $39.60 per share, with a total value of $495,000.00. Following the purchase, the director now owns 14,755 shares of the company’s stock, valued at approximately $584,298. This trade represents a 554.32 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Herman Cueto sold 712 shares of Azenta stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $40.07, for a total value of $28,529.84. Following the sale, the chief financial officer now directly owns 23,892 shares in the company, valued at approximately $957,352.44. The trade was a 2.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,423 shares of company stock worth $57,020 over the last ninety days. Company insiders own 10.62% of the company’s stock.

Institutional Investors Weigh In On Azenta

Several large investors have recently bought and sold shares of AZTA. Farther Finance Advisors LLC raised its holdings in Azenta by 20.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company’s stock worth $74,000 after purchasing an additional 256 shares during the period. QRG Capital Management Inc. increased its position in shares of Azenta by 6.6% during the 3rd quarter. QRG Capital Management Inc. now owns 6,156 shares of the company’s stock valued at $298,000 after purchasing an additional 383 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Azenta by 3.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 12,981 shares of the company’s stock valued at $629,000 after acquiring an additional 400 shares during the period. Ballentine Partners LLC boosted its holdings in Azenta by 2.0% during the 4th quarter. Ballentine Partners LLC now owns 20,340 shares of the company’s stock valued at $1,017,000 after acquiring an additional 404 shares during the period. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Azenta by 6.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 11,379 shares of the company’s stock worth $551,000 after buying an additional 679 shares during the period. 99.08% of the stock is currently owned by institutional investors.

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.