William L. Cornog Buys 12,500 Shares of Azenta, Inc. (NASDAQ:AZTA) Stock

Azenta, Inc. (NASDAQ:AZTA) Director William L. Cornog purchased 12,500 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average price of $39.60 per share, with a total value of $495,000.00. Following the completion of the transaction, the director now directly owns 14,755 shares of the company’s stock, valued at $584,298. This represents a 554.32 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Azenta Stock Up 9.1 %

NASDAQ AZTA opened at $44.65 on Thursday. The business’s fifty day simple moving average is $45.32 and its 200-day simple moving average is $50.22. The firm has a market cap of $2.18 billion, a PE ratio of -15.03 and a beta of 1.48. Azenta, Inc. has a 52 week low of $38.82 and a 52 week high of $69.16.

Azenta (NASDAQ:AZTA) last issued its earnings results on Tuesday, November 12th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.08. The company had revenue of $170.00 million for the quarter, compared to the consensus estimate of $169.66 million. Azenta had a negative net margin of 25.01% and a positive return on equity of 1.03%. Azenta’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 earnings per share. Research analysts expect that Azenta, Inc. will post 0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AZTA shares. Evercore ISI reduced their target price on shares of Azenta from $53.00 to $50.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Needham & Company LLC cut their price objective on shares of Azenta from $69.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.60.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased 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 acquiring an additional 421,719 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Azenta by 16.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,298,856 shares of the company’s stock worth $62,917,000 after purchasing an additional 183,040 shares during the period. 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 during the last quarter. Squarepoint Ops LLC raised its holdings in Azenta by 433.6% in the 2nd quarter. Squarepoint Ops LLC now owns 73,055 shares of the company’s stock valued at $3,844,000 after buying an additional 59,364 shares during the period. Finally, Royce & Associates LP lifted its position in 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 buying an additional 53,584 shares during the last quarter. 99.08% of the stock is currently owned by institutional investors and hedge funds.

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.