Envestnet Asset Management Inc. Has $11.31 Million Position in Azenta, Inc. (NASDAQ:AZTA)

Envestnet Asset Management Inc. increased its stake in shares of Azenta, Inc. (NASDAQ:AZTA) by 9.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326,550 shares of the company’s stock after buying an additional 28,049 shares during the quarter. Envestnet Asset Management Inc. owned about 0.71% of Azenta worth $11,312,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AZTA. Proficio Capital Partners LLC bought a new position in shares of Azenta in the 4th quarter valued at $910,000. Raymond James Financial Inc. bought a new position in shares of Azenta in the 4th quarter valued at $2,331,000. Corient Private Wealth LLC lifted its stake in shares of Azenta by 12.7% in the 4th quarter. Corient Private Wealth LLC now owns 28,505 shares of the company’s stock valued at $1,425,000 after acquiring an additional 3,221 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Azenta by 206.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 35,223 shares of the company’s stock worth $1,761,000 after purchasing an additional 23,731 shares during the last quarter. Finally, Maryland State Retirement & Pension System bought a new stake in shares of Azenta in the 4th quarter valued at about $924,000. Institutional investors and hedge funds own 99.08% of the company’s stock.

Azenta Stock Down 3.0%

NASDAQ AZTA opened at $31.16 on Friday. The company has a 50-day simple moving average of $29.75 and a two-hundred day simple moving average of $36.44. Azenta, Inc. has a 12-month low of $23.91 and a 12-month high of $63.58. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -22.42 and a beta of 1.64.

Azenta (NASDAQ:AZTA) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.04). Azenta had a negative net margin of 10.31% and a positive return on equity of 1.30%. During the same quarter in the prior year, the company posted $0.06 EPS. Azenta’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts expect that Azenta, Inc. will post 0.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on AZTA. Needham & Company LLC lowered their price objective on Azenta from $59.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Evercore ISI lifted their price objective on Azenta from $29.00 to $35.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 8th.

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.