Balyasny Asset Management L.P. Reduces Position in Azenta, Inc. (NASDAQ:AZTA)

Balyasny Asset Management L.P. decreased its stake in shares of Azenta, Inc. (NASDAQ:AZTA) by 76.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 37,097 shares of the company’s stock after selling 123,462 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Azenta were worth $1,855,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AZTA. Oak Thistle LLC purchased a new position in Azenta during the fourth quarter worth $927,000. Assenagon Asset Management S.A. purchased a new position in Azenta during the fourth quarter worth $200,000. Ballentine Partners LLC increased its position in Azenta by 2.0% during the fourth quarter. Ballentine Partners LLC now owns 20,340 shares of the company’s stock worth $1,017,000 after buying an additional 404 shares in the last quarter. SG Americas Securities LLC purchased a new position in Azenta during the fourth quarter worth $813,000. Finally, Exchange Traded Concepts LLC increased its position in Azenta by 7.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 375,627 shares of the company’s stock worth $18,781,000 after buying an additional 25,545 shares in the last quarter. Hedge funds and other institutional investors own 99.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on AZTA shares. Needham & Company LLC dropped their price target on Azenta from $59.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. TD Cowen raised Azenta to a “hold” rating in a research report on Thursday, February 27th. Finally, Evercore ISI lifted their price objective on Azenta from $50.00 to $52.00 and gave the company an “in-line” rating in a research report on Thursday, February 6th.

Azenta Stock Up 5.7%

Shares of NASDAQ:AZTA opened at $28.30 on Tuesday. Azenta, Inc. has a 52 week low of $23.91 and a 52 week high of $63.58. The company has a market cap of $1.29 billion, a P/E ratio of -9.50 and a beta of 1.64. The business has a fifty day simple moving average of $31.20 and a 200-day simple moving average of $41.95.

Azenta (NASDAQ:AZTA) last issued its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). Azenta had a negative net margin of 24.91% and a positive return on equity of 1.25%. During the same period last year, the firm posted $0.06 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Sell-side analysts expect that Azenta, Inc. will post 0.53 earnings per share for the current fiscal year.

Azenta 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.