State of Michigan Retirement System Makes New $1.38 Million Investment in Azenta, Inc. (NASDAQ:AZTA)

State of Michigan Retirement System bought a new position in shares of Azenta, Inc. (NASDAQ:AZTAGet Rating) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 19,117 shares of the company’s stock, valued at approximately $1,378,000.

A number of other hedge funds also recently added to or reduced their stakes in AZTA. Vigilant Capital Management LLC acquired a new stake in Azenta during the 2nd quarter worth approximately $25,000. Glassman Wealth Services acquired a new stake in Azenta during the 2nd quarter worth approximately $25,000. Castle Wealth Management LLC acquired a new stake in Azenta during the 2nd quarter worth approximately $34,000. Assetmark Inc. acquired a new stake in Azenta during the 2nd quarter worth approximately $39,000. Finally, Tompkins Financial Corp acquired a new stake in Azenta during the 2nd quarter worth approximately $43,000. 97.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Lindon G. Robertson purchased 4,350 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The shares were purchased at an average cost of $57.62 per share, for a total transaction of $250,647.00. Following the purchase, the chief financial officer now directly owns 100,571 shares of the company’s stock, valued at $5,794,901.02. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Lindon G. Robertson purchased 4,350 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The shares were purchased at an average cost of $57.62 per share, for a total transaction of $250,647.00. Following the purchase, the chief financial officer now directly owns 100,571 shares of the company’s stock, valued at $5,794,901.02. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Matthew Mcmanus acquired 8,625 shares of the stock in a transaction on Friday, August 19th. The shares were acquired at an average cost of $58.15 per share, for a total transaction of $501,543.75. Following the completion of the transaction, the chief operating officer now directly owns 29,467 shares in the company, valued at approximately $1,713,506.05. The disclosure for this purchase can be found here. 1.62% of the stock is owned by company insiders.

Azenta Price Performance

Shares of NASDAQ:AZTA opened at $49.00 on Friday. The company’s fifty day moving average price is $45.32 and its 200 day moving average price is $60.54. Azenta, Inc. has a 12 month low of $37.61 and a 12 month high of $121.44. The firm has a market capitalization of $3.68 billion, a P/E ratio of 1.70 and a beta of 1.52.

Wall Street Analyst Weigh In

AZTA has been the topic of a number of research reports. KeyCorp reduced their target price on shares of Azenta from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, October 24th. Evercore ISI reduced their price objective on shares of Azenta to $68.00 in a report on Monday, August 15th. Needham & Company LLC reduced their price objective on shares of Azenta from $94.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. Finally, TheStreet lowered shares of Azenta from a “c-” rating to a “d+” rating in a report on Thursday, September 1st. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $73.50.

Azenta Company Profile

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Azenta, Inc provides life science sample exploration and management solutions for the life sciences market in North America, Europe, China, the Asia Pacific, and internationally. The company operates through two reportable segments, Life Sciences Products and Life Sciences Services. The Life Sciences Products segment offers automated cold sample management systems for compound and biological sample storage; equipment for sample preparation and handling; consumables; and instruments that help customers in managing samples throughout their research discovery and development workflows.

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Institutional Ownership by Quarter for Azenta (NASDAQ:AZTA)

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