Azenta, Inc. (NASDAQ:AZTA) CEO Buys $502,067.16 in Stock

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

Azenta Stock Performance

NASDAQ AZTA traded up $0.54 during mid-day trading on Tuesday, reaching $40.91. 659,801 shares of the stock were exchanged, compared to its average volume of 503,027. The business’s 50 day moving average is $45.44 and its 200-day moving average is $50.35. Azenta, Inc. has a 1 year low of $38.82 and a 1 year high of $69.16. The company has a market capitalization of $2.00 billion, a P/E ratio of -13.59 and a beta of 1.48.

Azenta (NASDAQ:AZTA) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.08. Azenta had a negative net margin of 25.01% and a positive return on equity of 1.03%. The firm 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 earned $0.13 earnings per share. Azenta’s revenue was down 1.2% compared to the same quarter last year. Equities analysts predict that Azenta, Inc. will post 0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Azenta

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its position in shares of Azenta by 9.3% during the first quarter. Janney Montgomery Scott LLC now owns 5,167 shares of the company’s stock valued at $311,000 after acquiring an additional 438 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Azenta by 9.5% in the first quarter. Russell Investments Group Ltd. now owns 4,698 shares of the company’s stock valued at $283,000 after purchasing an additional 409 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Azenta by 6.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 74,608 shares of the company’s stock valued at $4,497,000 after purchasing an additional 4,739 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Azenta by 24.7% in the first quarter. Acadian Asset Management LLC now owns 2,381 shares of the company’s stock valued at $143,000 after purchasing an additional 471 shares during the period. Finally, Natixis purchased a new position in shares of Azenta in the first quarter valued at approximately $151,000. 99.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AZTA shares. Evercore ISI lowered their price target 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 target on shares of Azenta from $69.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Azenta currently has an average 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.