Envestnet Portfolio Solutions Inc. Reduces Position in Azenta, Inc. (NASDAQ:AZTA)

Envestnet Portfolio Solutions Inc. reduced its position in Azenta, Inc. (NASDAQ:AZTA) by 23.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,001 shares of the company’s stock after selling 1,874 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Azenta were worth $300,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AZTA. State of Alaska Department of Revenue raised its holdings in shares of Azenta by 355.2% in the fourth quarter. State of Alaska Department of Revenue now owns 25,899 shares of the company’s stock worth $1,294,000 after buying an additional 20,210 shares during the period. Stephens Inc. AR purchased a new stake in Azenta in the fourth quarter worth $313,000. SG Americas Securities LLC bought a new stake in shares of Azenta during the fourth quarter worth $813,000. Conestoga Capital Advisors LLC boosted its stake in shares of Azenta by 65.0% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,577,881 shares of the company’s stock valued at $78,894,000 after purchasing an additional 621,830 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Azenta by 1.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,317,385 shares of the company’s stock worth $65,922,000 after purchasing an additional 18,529 shares during the last quarter. Institutional investors own 99.08% of the company’s stock.

Azenta Stock Performance

NASDAQ:AZTA opened at $35.52 on Friday. The firm has a 50-day simple moving average of $45.47 and a 200-day simple moving average of $46.35. Azenta, Inc. has a one year low of $35.06 and a one year high of $63.58. The firm has a market cap of $1.62 billion, a P/E ratio of -11.92 and a beta of 1.52.

Azenta (NASDAQ:AZTA) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Azenta had a negative net margin of 24.91% and a positive return on equity of 1.25%. On average, research analysts predict that Azenta, Inc. will post 0.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AZTA. Needham & Company LLC lifted their price objective on shares of Azenta from $55.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Evercore ISI lifted their price target on shares of Azenta from $50.00 to $52.00 and gave the company an “in-line” rating in a research note on Thursday, February 6th. Stephens reiterated an “overweight” rating and issued a $60.00 price target on shares of Azenta in a report on Thursday, January 2nd. Finally, TD Cowen raised Azenta to a “hold” rating in a research report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $58.75.

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.