Azenta (NASDAQ:AZTA) Shares Gap Up - Still a Buy?

Azenta, Inc. (NASDAQ:AZTA - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $41.22, but opened at $42.42. Azenta shares last traded at $43.56, with a volume of 22,283 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Evercore ISI dropped their target price on Azenta from $53.00 to $50.00 and set an "in-line" rating for the company in a report on Tuesday, October 1st. Needham & Company LLC restated a "buy" rating and issued a $69.00 price target on shares of Azenta in a research report on Wednesday, August 7th. 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 a consensus rating of "Hold" and a consensus price target of $66.40.

Azenta Trading Up 8.9 %

The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -15.98 and a beta of 1.48. The company has a 50 day moving average price of $46.31 and a 200 day moving average price of $50.92.

Azenta (NASDAQ:AZTA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.07 by $0.09. Azenta had a negative net margin of 23.66% and a positive return on equity of 0.89%. The company had revenue of $173.00 million during the quarter, compared to analysts' expectations of $166.14 million. During the same quarter in the previous year, the company earned $0.13 EPS. Azenta's revenue was up 4.2% on a year-over-year basis. Equities analysts predict that Azenta, Inc. will post 0.33 earnings per share for the current year.

Insider Transactions at Azenta

In other news, CFO Herman Cueto sold 1,595 shares of the business'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 transaction, the chief financial officer now directly owns 24,604 shares in the company, valued at approximately $1,074,702.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Azenta

Institutional investors have recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. boosted its position in Azenta by 1.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,488 shares of the company's stock worth $813,000 after acquiring an additional 229 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Azenta by 20.0% during the third 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 last quarter. Arizona State Retirement System grew its position 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 purchasing an additional 269 shares in the last quarter. Green Alpha Advisors LLC increased its stake in Azenta by 3.5% in the 3rd quarter. Green Alpha Advisors LLC now owns 10,203 shares of the company's stock valued at $494,000 after buying an additional 348 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its position 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 buying an additional 383 shares in the last quarter. 99.08% of the stock is owned by 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.