Oppenheimer Asset Management Inc. Sells 306 Shares of Azenta, Inc. (NASDAQ:AZTA)

Oppenheimer Asset Management Inc. lessened its stake in shares of Azenta, Inc. (NASDAQ:AZTA) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,238 shares of the company’s stock after selling 306 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Azenta were worth $883,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in Azenta by 1.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,298,040 shares of the company’s stock valued at $278,783,000 after purchasing an additional 100,826 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Azenta by 16.5% during the 2nd 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Azenta by 16.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,298,856 shares of the company’s stock valued at $62,917,000 after acquiring an additional 183,040 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Azenta by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 515,393 shares of the company’s stock valued at $27,120,000 after acquiring an additional 18,680 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in Azenta by 6.3% in the second quarter. Federated Hermes Inc. now owns 432,506 shares of the company’s stock worth $22,758,000 after purchasing an additional 25,586 shares during the last quarter. 99.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Azenta

In other news, CFO Herman Cueto sold 1,595 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $43.68, for a total value of $69,669.60. Following the completion of the transaction, the chief financial officer now directly owns 24,604 shares in the company, valued at $1,074,702.72. This trade represents a 6.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.77% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Azenta Stock Performance

Azenta stock opened at $40.37 on Tuesday. The stock has a 50-day moving average of $45.44 and a two-hundred day moving average of $50.35. Azenta, Inc. has a one year low of $38.82 and a one year high of $69.16. The stock has a market cap of $1.97 billion, a PE ratio of -13.59 and a beta of 1.48.

Azenta (NASDAQ:AZTA) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.18 EPS for the quarter, beating 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 company had revenue of $170.00 million during the quarter, compared to analysts’ expectations of $169.66 million. During the same period last year, the business posted $0.13 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that Azenta, Inc. will post 0.4 EPS for the current fiscal year.

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.