Stephens Investment Management Group LLC Sells 50,765 Shares of Azenta, Inc. (NASDAQ:AZTA)

Stephens Investment Management Group LLC trimmed its holdings in Azenta, Inc. (NASDAQ:AZTA) by 6.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 798,244 shares of the company’s stock after selling 50,765 shares during the quarter. Stephens Investment Management Group LLC owned approximately 1.48% of Azenta worth $38,667,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Redwood Investment Management LLC purchased a new position in shares of Azenta in the first quarter worth $1,497,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Azenta during the 1st quarter valued at about $615,000. Edgestream Partners L.P. boosted its holdings in shares of Azenta by 618.2% during the 1st quarter. Edgestream Partners L.P. now owns 58,644 shares of the company’s stock valued at $3,535,000 after purchasing an additional 50,479 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new position in shares of Azenta during the first quarter valued at about $1,401,000. Finally, Nordea Investment Management AB increased its holdings in shares of Azenta by 10.5% in the first quarter. Nordea Investment Management AB now owns 71,855 shares of the company’s stock worth $4,386,000 after purchasing an additional 6,833 shares during the last quarter. 99.08% of the stock is currently owned by institutional investors.

Azenta Trading Down 2.4 %

AZTA opened at $41.09 on Friday. The stock has a 50-day moving average of $46.60 and a 200 day moving average of $51.09. Azenta, Inc. has a 12 month low of $40.24 and a 12 month high of $69.16.

Azenta (NASDAQ:AZTA) last announced its earnings results on Tuesday, August 6th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $166.14 million. During the same quarter in the previous year, the business earned $0.13 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, analysts expect that Azenta, Inc. will post 0.33 earnings per share for the current year.

Insider Buying and Selling at Azenta

In other news, CFO Herman Cueto sold 1,595 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $43.68, for a total value of $69,669.60. Following the completion of the sale, the chief financial officer now owns 24,604 shares in the company, valued at approximately $1,074,702.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.77% of the company’s stock.

Wall Street Analysts Forecast Growth

AZTA has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $69.00 price target on shares of Azenta in a research note on Wednesday, August 7th. Evercore ISI lowered their target price 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. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $66.40.

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.