Azenta, Inc. $AZTA Stake Boosted by Mechanics Financial Corp

Mechanics Financial Corp grew its stake in shares of Azenta, Inc. (NASDAQ:AZTA) by 77.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 870 shares of the company’s stock after acquiring an additional 380 shares during the period. Mechanics Financial Corp’s holdings in Azenta were worth $27,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in shares of Azenta by 788.1% during the 1st quarter. Farther Finance Advisors LLC now owns 968 shares of the company’s stock valued at $33,000 after acquiring an additional 859 shares in the last quarter. State of Wyoming grew its holdings in shares of Azenta by 77.1% during the 1st quarter. State of Wyoming now owns 2,343 shares of the company’s stock valued at $81,000 after acquiring an additional 1,020 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Azenta by 13,184.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,524 shares of the company’s stock valued at $87,000 after acquiring an additional 2,505 shares in the last quarter. Quarry LP grew its holdings in shares of Azenta by 41.5% during the 1st quarter. Quarry LP now owns 3,120 shares of the company’s stock valued at $108,000 after acquiring an additional 915 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Azenta by 83.6% in the second quarter. GAMMA Investing LLC now owns 3,446 shares of the company’s stock worth $106,000 after purchasing an additional 1,569 shares in the last quarter. 99.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AZTA. Raymond James Financial upgraded shares of Azenta from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a report on Wednesday, August 6th. Evercore ISI set a $33.00 price objective on shares of Azenta and gave the stock an “in-line” rating in a report on Tuesday, August 5th. Finally, Stephens began coverage on shares of Azenta in a report on Tuesday, July 22nd. They issued an “equal weight” rating and a $35.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Azenta currently has an average rating of “Hold” and an average price target of $35.75.

Azenta Price Performance

AZTA stock opened at $31.49 on Friday. Azenta, Inc. has a 52-week low of $23.91 and a 52-week high of $55.63. The company has a 50-day moving average of $30.43 and a two-hundred day moving average of $30.04. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -13.01 and a beta of 1.63.

Azenta (NASDAQ:AZTA) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. Azenta had a negative net margin of 18.45% and a positive return on equity of 1.35%. The company had revenue of $143.94 million during the quarter, compared to analysts’ expectations of $149.64 million. During the same period in the prior year, the company earned $0.14 earnings per share. The business’s quarterly revenue was up .0% compared to the same quarter last year. Equities analysts expect that Azenta, Inc. will post 0.53 EPS for the current fiscal 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.