Azenta, Inc. (NASDAQ:AZTA) CFO Herman Cueto Sells 1,595 Shares

Azenta, Inc. (NASDAQ:AZTA) CFO Herman Cueto sold 1,595 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $43.68, for a total transaction of $69,669.60. Following the completion of the sale, the chief financial officer now owns 24,604 shares in the company, valued at approximately $1,074,702.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Azenta Stock Performance

Shares of NASDAQ:AZTA traded down $0.40 during trading on Monday, reaching $43.74. 358,300 shares of the stock traded hands, compared to its average volume of 496,392. The stock has a 50-day moving average of $48.10 and a two-hundred day moving average of $51.88. Azenta, Inc. has a 52-week low of $43.18 and a 52-week high of $69.16. The stock has a market cap of $2.36 billion, a P/E ratio of -16.10 and a beta of 1.47.

Azenta (NASDAQ:AZTA) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. The company had revenue of $173.00 million for the quarter, compared to the consensus estimate of $166.14 million. Azenta had a negative net margin of 23.66% and a positive return on equity of 0.89%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Sell-side analysts expect that Azenta, Inc. will post 0.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 purchasing an additional 183,040 shares during the period. Net Worth Advisory Group bought a new position in Azenta in the third quarter worth approximately $205,000. Wesbanco Bank Inc. raised its position in Azenta by 72.2% in the third quarter. Wesbanco Bank Inc. now owns 31,000 shares of the company’s stock worth $1,502,000 after acquiring an additional 13,000 shares during the period. Procyon Advisors LLC bought a new position in Azenta in the third quarter worth approximately $247,000. Finally, Green Alpha Advisors LLC raised its position in Azenta by 3.5% in the third quarter. Green Alpha Advisors LLC now owns 10,203 shares of the company’s stock worth $494,000 after acquiring an additional 348 shares during the period. Institutional investors own 99.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Evercore ISI cut their price objective on shares of Azenta from $53.00 to $50.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Needham & Company LLC restated a “buy” rating and issued a $69.00 price objective on shares of Azenta in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $66.40.

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.