Azenta (NASDAQ:AZTA) Hits New 12-Month Low – Here’s What Happened

Azenta, Inc. (NASDAQ:AZTA) reached a new 52-week low on Monday . The company traded as low as $40.08 and last traded at $40.16, with a volume of 73975 shares. The stock had previously closed at $41.51.

Wall Street Analyst Weigh In

A number of analysts recently commented on AZTA shares. Evercore ISI decreased their price objective on Azenta from $53.00 to $50.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Needham & Company LLC decreased 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $63.60.

Azenta Stock Down 4.2 %

The company has a 50 day moving average of $45.56 and a 200 day moving average of $50.43. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -13.98 and a beta of 1.48.

Azenta (NASDAQ:AZTA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.08. The company had revenue of $170.00 million during the quarter, compared to the consensus estimate of $169.66 million. Azenta had a negative net margin of 25.01% and a positive return on equity of 1.03%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.13 EPS. On average, research analysts forecast that Azenta, Inc. will post 0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Azenta news, CFO Herman Cueto sold 1,595 shares of Azenta stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $43.68, for a total value of $69,669.60. Following the transaction, the chief financial officer now owns 24,604 shares in the company, valued at $1,074,702.72. This trade represents a 6.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new stake in Azenta during the second quarter valued at about $30,000. Farther Finance Advisors LLC grew its holdings in shares of Azenta by 20.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company’s stock worth $74,000 after purchasing an additional 256 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in Azenta by 150.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock worth $84,000 after purchasing an additional 955 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Azenta in the first quarter valued at approximately $130,000. Finally, Acadian Asset Management LLC lifted its position in Azenta by 24.7% during the first quarter. Acadian Asset Management LLC now owns 2,381 shares of the company’s stock valued at $143,000 after buying an additional 471 shares in the last quarter. 99.08% of the stock is owned by hedge funds and other institutional investors.

About Azenta

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.