William L. Cornog Buys 12,500 Shares of Azenta, Inc. (NASDAQ:AZTA) Stock

Azenta, Inc. (NASDAQ:AZTA) Director William L. Cornog bought 12,500 shares of Azenta stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average cost of $39.60 per share, with a total value of $495,000.00. Following the completion of the transaction, the director now owns 14,755 shares of the company’s stock, valued at $584,298. This trade represents a 554.32 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Azenta Stock Performance

Shares of NASDAQ AZTA traded up $0.54 during midday trading on Tuesday, reaching $40.91. 659,801 shares of the company traded hands, compared to its average volume of 503,027. The stock’s 50-day simple moving average is $45.44 and its 200-day simple moving average is $50.35. Azenta, Inc. has a 12 month low of $38.82 and a 12 month high of $69.16. The firm has a market cap of $2.00 billion, a PE ratio of -13.59 and a beta of 1.48.

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

Institutional Trading of Azenta

Hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC increased its stake in Azenta by 20.0% in the third quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company’s stock valued at $74,000 after purchasing an additional 256 shares in the last quarter. Arizona State Retirement System grew its stake in Azenta by 2.0% in the second quarter. Arizona State Retirement System now owns 14,050 shares of the company’s stock valued at $739,000 after acquiring an additional 269 shares during the period. Green Alpha Advisors LLC raised its position in shares of Azenta by 3.5% during the third quarter. Green Alpha Advisors LLC now owns 10,203 shares of the company’s stock worth $494,000 after purchasing an additional 348 shares during the period. QRG Capital Management Inc. increased its stake in Azenta by 6.6% during the 3rd quarter. QRG Capital Management Inc. now owns 6,156 shares of the company’s stock worth $298,000 after purchasing an additional 383 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Azenta by 3.2% in the third quarter. Handelsbanken Fonder AB now owns 12,981 shares of the company’s stock valued at $629,000 after buying an additional 400 shares in the last quarter. 99.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AZTA has been the subject of several research reports. Evercore ISI reduced their target price on 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 reduced their target price on Azenta from $69.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $63.60.

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.