Insider Buying: Azenta, Inc. (NASDAQ:AZTA) CEO Buys 12,717 Shares of Stock

Azenta, Inc. (NASDAQ:AZTA) CEO John Marotta acquired 12,717 shares of the business’s stock in a transaction on Monday, November 18th. The shares were bought at an average price of $39.48 per share, for a total transaction of $502,067.16. Following the acquisition, the chief executive officer now owns 99,612 shares in the company, valued at approximately $3,932,681.76. This trade represents a 14.63 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Azenta Stock Up 1.9 %

Shares of AZTA stock opened at $45.51 on Friday. Azenta, Inc. has a 12-month low of $38.82 and a 12-month high of $69.16. The firm has a 50-day moving average price of $45.29 and a 200 day moving average price of $50.19. The company has a market capitalization of $2.23 billion, a P/E ratio of -15.32 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 the consensus estimate of $0.10 by $0.08. The business had revenue of $170.00 million for the quarter, compared to analysts’ expectations of $169.66 million. Azenta had a negative net margin of 25.01% and a positive return on equity of 1.03%. Azenta’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share. As a group, research analysts expect that Azenta, Inc. will post 0.4 earnings per share for the current year.

Institutional Trading of Azenta

A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Azenta by 16.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,970,964 shares of the company’s stock valued at $156,331,000 after buying an additional 421,719 shares during the period. Allspring Global Investments Holdings LLC increased its position 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 last quarter. Kayne Anderson Rudnick Investment Management LLC raised 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 worth $278,783,000 after acquiring an additional 100,826 shares in the last quarter. Squarepoint Ops LLC lifted its stake 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 purchasing an additional 59,364 shares during the last quarter. Finally, Royce & Associates LP lifted its position 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 buying an additional 53,584 shares during the last quarter. 99.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on AZTA shares. Needham & Company LLC dropped their price objective on Azenta from $69.00 to $55.00 and set a “buy” rating on the stock in a 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.60.

Azenta Company 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.