Envestnet Asset Management Inc. Cuts Stock Holdings in Azenta, Inc. (NASDAQ:AZTA)

Envestnet Asset Management Inc. lessened its position in Azenta, Inc. (NASDAQ:AZTA) by 11.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 513,484 shares of the company’s stock after selling 66,651 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Azenta were worth $27,020,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Park Avenue Securities LLC lifted its stake in shares of Azenta by 1.6% in the first quarter. Park Avenue Securities LLC now owns 12,181 shares of the company’s stock worth $734,000 after buying an additional 192 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Azenta by 1.7% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,488 shares of the company’s stock worth $813,000 after purchasing an additional 229 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Azenta by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 14,050 shares of the company’s stock worth $739,000 after purchasing an additional 269 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Azenta by 9.5% in the first quarter. Russell Investments Group Ltd. now owns 4,698 shares of the company’s stock valued at $283,000 after purchasing an additional 409 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Azenta by 9.3% in the first quarter. Janney Montgomery Scott LLC now owns 5,167 shares of the company’s stock valued at $311,000 after purchasing an additional 438 shares during the last quarter. 99.08% of the stock is owned by institutional investors and hedge funds.

Azenta Trading Down 0.5 %

Shares of NASDAQ:AZTA opened at $49.27 on Friday. The business has a 50-day moving average price of $52.36 and a 200 day moving average price of $53.93. Azenta, Inc. has a 12-month low of $44.00 and a 12-month high of $69.16. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -18.18 and a beta of 1.47.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AZTA. Needham & Company LLC reissued a “buy” rating and set a $69.00 price target on shares of Azenta in a research report on Wednesday, August 7th. Evercore ISI boosted their target price on shares of Azenta from $52.00 to $53.00 and gave the company an “in-line” rating in a report on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $67.00.

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.