State of Alaska Department of Revenue Boosts Stock Holdings in Azenta, Inc. (NASDAQ:AZTA)

State of Alaska Department of Revenue increased its stake in Azenta, Inc. (NASDAQ:AZTA - Free Report) by 355.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,899 shares of the company's stock after acquiring an additional 20,210 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Azenta worth $1,294,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AZTA. State Street Corp boosted its position in Azenta by 0.4% during the third quarter. State Street Corp now owns 1,686,993 shares of the company's stock valued at $81,718,000 after buying an additional 6,398 shares during the period. Conestoga Capital Advisors LLC boosted its position in Azenta by 65.0% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,577,881 shares of the company's stock valued at $78,894,000 after buying an additional 621,830 shares during the period. Allspring Global Investments Holdings LLC boosted 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 buying an additional 183,040 shares during the period. Royce & Associates LP boosted its position in Azenta by 7.8% during the third quarter. Royce & Associates LP now owns 739,977 shares of the company's stock valued at $35,844,000 after buying an additional 53,584 shares during the period. Finally, Systematic Financial Management LP boosted its position in Azenta by 8.7% during the third quarter. Systematic Financial Management LP now owns 434,597 shares of the company's stock valued at $21,052,000 after buying an additional 34,849 shares during the period. 99.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director William L. Cornog purchased 12,500 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average cost of $39.60 per share, with a total value of $495,000.00. Following the completion of the purchase, the director now directly owns 14,755 shares in the company, valued at approximately $584,298. This represents a 554.32 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Herman Cueto sold 712 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $40.07, for a total transaction of $28,529.84. Following the transaction, the chief financial officer now directly owns 23,892 shares of the company's stock, valued at $957,352.44. This represents a 2.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,423 shares of company stock valued at $57,020 over the last three months. Corporate insiders own 10.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AZTA shares. Needham & Company LLC upped their price objective on shares of Azenta from $55.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Stephens reaffirmed an "overweight" rating and set a $60.00 price objective on shares of Azenta in a research note on Thursday, January 2nd. Finally, Evercore ISI upped their price objective on shares of Azenta from $50.00 to $52.00 and gave the company an "in-line" rating in a research note on Thursday, February 6th.

Azenta Stock Up 0.7 %

Shares of NASDAQ:AZTA traded up $0.31 during midday trading on Friday, hitting $45.41. 419,380 shares of the stock traded hands, compared to its average volume of 434,339. Azenta, Inc. has a one year low of $38.82 and a one year high of $67.77. The stock has a market capitalization of $2.07 billion, a PE ratio of -15.24 and a beta of 1.47. The business's 50 day moving average is $50.56 and its two-hundred day moving average is $48.42.

Azenta (NASDAQ:AZTA - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. Azenta had a negative net margin of 24.91% and a positive return on equity of 1.25%. As a group, sell-side analysts forecast that Azenta, Inc. will post 0.42 earnings per share for the current year.

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.