Alpine Global Management LLC Purchases New Stake in Azenta, Inc. (NASDAQ:AZTA)

Alpine Global Management LLC acquired a new stake in Azenta, Inc. (NASDAQ:AZTA) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,361 shares of the company’s stock, valued at approximately $218,000.

A number of other large investors also recently modified their holdings of AZTA. Lord Abbett & CO. LLC bought a new position in shares of Azenta in the fourth quarter valued at approximately $47,350,000. Conestoga Capital Advisors LLC boosted its position in shares of Azenta by 65.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,577,881 shares of the company’s stock valued at $78,894,000 after acquiring an additional 621,830 shares during the period. Norges Bank bought a new position in shares of Azenta in the fourth quarter valued at approximately $25,403,000. Schroder Investment Management Group boosted its position in shares of Azenta by 46.7% in the fourth quarter. Schroder Investment Management Group now owns 1,405,056 shares of the company’s stock valued at $70,183,000 after acquiring an additional 447,292 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Azenta in the fourth quarter valued at approximately $20,469,000. 99.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AZTA has been the subject of a number of analyst reports. Evercore ISI raised their price objective on shares of Azenta from $50.00 to $52.00 and gave the company an “in-line” rating in a research report on Thursday, February 6th. TD Cowen raised shares of Azenta to a “hold” rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC lowered their target price on shares of Azenta from $59.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th.

Azenta Price Performance

Shares of AZTA opened at $27.00 on Friday. The firm’s 50 day simple moving average is $29.05 and its 200 day simple moving average is $41.01. The company has a market capitalization of $1.24 billion, a P/E ratio of -9.06 and a beta of 1.64. Azenta, Inc. has a 1-year low of $23.91 and a 1-year high of $63.58.

Azenta (NASDAQ:AZTA) last announced 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%. Azenta’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.06 earnings per share. On average, equities analysts anticipate that Azenta, Inc. will post 0.53 earnings per share for the current year.

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.