Quest Partners LLC Has $385,000 Stake in Azenta, Inc. (NASDAQ:AZTA)

Quest Partners LLC boosted its stake in shares of Azenta, Inc. (NASDAQ:AZTA) by 31.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,941 shares of the company’s stock after acquiring an additional 1,902 shares during the quarter. Quest Partners LLC’s holdings in Azenta were worth $385,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AZTA. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Azenta by 1.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,298,040 shares of the company’s stock worth $278,783,000 after purchasing an additional 100,826 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Azenta by 16.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,970,964 shares of the company’s stock worth $156,331,000 after buying an additional 421,719 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Azenta by 16.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,298,856 shares of the company’s stock worth $62,917,000 after buying an additional 183,040 shares in the last quarter. Royce & Associates LP raised its stake in shares of Azenta by 7.8% in the third quarter. Royce & Associates LP now owns 739,977 shares of the company’s stock valued at $35,844,000 after acquiring an additional 53,584 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Azenta by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 515,393 shares of the company’s stock worth $27,120,000 after acquiring an additional 18,680 shares in the last quarter. 99.08% of the stock is owned by institutional investors.

Azenta Stock Performance

NASDAQ AZTA opened at $45.16 on Monday. The stock has a market capitalization of $2.21 billion, a P/E ratio of -15.21 and a beta of 1.48. Azenta, Inc. has a 52 week low of $38.82 and a 52 week high of $69.16. The stock has a fifty day moving average of $45.22 and a 200-day moving average of $50.05.

Azenta (NASDAQ:AZTA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.18 EPS for the quarter, topping 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 firm had revenue of $170.00 million during the quarter, compared to analyst estimates of $169.66 million. During the same period last year, the company earned $0.13 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. Equities research analysts forecast that Azenta, Inc. will post 0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AZTA shares. Needham & Company LLC cut their price objective on Azenta from $69.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Evercore ISI cut their price target on Azenta from $53.00 to $50.00 and set an “in-line” rating for the company in a 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, the stock currently has a consensus rating of “Hold” and an average price target of $63.60.

Insider Buying and Selling

In related news, CEO John Marotta acquired 12,717 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $39.48 per share, with a total value of $502,067.16. Following the completion of the purchase, the chief executive officer now directly owns 99,612 shares in the company, valued at approximately $3,932,681.76. This trade represents a 14.63 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William L. Cornog bought 12,500 shares of the business’s stock in a transaction on Monday, November 18th. The stock was bought at an average cost of $39.60 per share, for a total transaction of $495,000.00. Following the purchase, the director now directly 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 disclosure for this purchase can be found here. Insiders sold a total of 3,018 shares of company stock valued at $126,689 over the last ninety days. Insiders own 1.77% of the company’s stock.

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.