Redwood Investment Management LLC Purchases Shares of 24,827 Azenta, Inc. (NASDAQ:AZTA)

Redwood Investment Management LLC purchased a new stake in shares of Azenta, Inc. (NASDAQ:AZTA) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 24,827 shares of the company’s stock, valued at approximately $1,497,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its stake in Azenta by 29.2% during the fourth quarter. Federated Hermes Inc. now owns 365,506 shares of the company’s stock worth $23,809,000 after buying an additional 82,502 shares in the last quarter. Otter Creek Advisors LLC bought a new position in shares of Azenta in the fourth quarter valued at about $1,511,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Azenta in the first quarter valued at about $615,000. Lighthouse Investment Partners LLC bought a new position in shares of Azenta in the fourth quarter valued at about $1,973,000. Finally, Edgestream Partners L.P. increased its position in Azenta by 618.2% in the first quarter. Edgestream Partners L.P. now owns 58,644 shares of the company’s stock worth $3,535,000 after purchasing an additional 50,479 shares during the period. Institutional investors and hedge funds own 99.08% of the company’s stock.

Analysts Set New Price Targets

AZTA has been the subject of a number of research reports. Needham & Company LLC lowered their price objective on Azenta from $75.00 to $69.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Jefferies Financial Group initiated coverage on Azenta in a research report on Thursday, April 4th. They issued a “hold” rating and a $64.00 price objective for the company. Finally, Evercore ISI boosted their target price on Azenta from $52.00 to $53.00 and gave the company an “in-line” rating in a research note on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Azenta presently has an average rating of “Hold” and an average target price of $67.00.

Azenta Stock Down 2.2 %

AZTA traded down $1.36 during trading hours on Thursday, reaching $60.93. The company’s stock had a trading volume of 59,371 shares, compared to its average volume of 460,321. Azenta, Inc. has a 52 week low of $44.00 and a 52 week high of $69.16. The company’s 50-day moving average is $53.96 and its 200-day moving average is $57.75.

Azenta (NASDAQ:AZTA) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Azenta had a positive return on equity of 0.81% and a negative net margin of 23.12%. The firm had revenue of $159.13 million for the quarter, compared to analyst estimates of $159.89 million. During the same period in the prior year, the firm posted ($0.06) EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, research analysts expect that Azenta, Inc. will post 0.28 earnings per share for the current year.

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.