Azenta, Inc. (NASDAQ:AZTA) Position Trimmed by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in Azenta, Inc. (NASDAQ:AZTA) by 15.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 38,176 shares of the company’s stock after selling 6,981 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Azenta were worth $1,849,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Cerity Partners LLC lifted its position in shares of Azenta by 21.2% in the 3rd quarter. Cerity Partners LLC now owns 39,031 shares of the company’s stock valued at $1,891,000 after acquiring an additional 6,840 shares in the last quarter. Commerce Bank lifted its position in Azenta by 42.8% in the 3rd quarter. Commerce Bank now owns 18,097 shares of the company’s stock worth $877,000 after buying an additional 5,428 shares in the last quarter. Premier Fund Managers Ltd acquired a new stake in shares of Azenta during the 3rd quarter valued at $686,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Azenta during the 3rd quarter valued at $1,979,000. Finally, Quest Partners LLC increased its stake in shares of Azenta by 31.5% in the third quarter. Quest Partners LLC now owns 7,941 shares of the company’s stock worth $385,000 after acquiring an additional 1,902 shares during the last quarter. Institutional investors own 99.08% of the company’s stock.

Insider Buying and Selling

In other Azenta news, CFO Herman Cueto sold 1,595 shares of the business’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 transaction, the chief financial officer now directly owns 24,604 shares of the company’s stock, valued at approximately $1,074,702.72. The trade was a 6.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William L. Cornog purchased 12,500 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were bought at an average cost of $39.60 per share, for a total transaction of $495,000.00. Following the completion of the purchase, the director now directly owns 14,755 shares of the company’s stock, valued at $584,298. The trade was a 554.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 3,018 shares of company stock worth $126,689 in the last quarter. 1.77% of the stock is owned by corporate insiders.

Azenta Stock Up 2.7 %

Shares of AZTA opened at $46.84 on Tuesday. The stock’s 50-day moving average price is $44.69 and its 200 day moving average price is $49.67. Azenta, Inc. has a 12-month low of $38.82 and a 12-month high of $69.16. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -15.77 and a beta of 1.49.

Azenta (NASDAQ:AZTA) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.08. Azenta had a positive return on equity of 1.03% and a negative net margin of 25.01%. The company had revenue of $170.00 million for the quarter, compared to the consensus estimate of $169.66 million. During the same period in the previous year, the business earned $0.13 earnings per share. The company’s quarterly revenue was down 1.2% on a year-over-year basis. Equities research analysts expect that Azenta, Inc. will post 0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Needham & Company LLC dropped their target price on Azenta from $69.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Evercore ISI decreased 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Azenta presently has an average rating of “Hold” and an average target price of $63.60.

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.