As we approach the end of May 2023, investors continue to closely monitor the movements of major hedge funds and asset managers such as Vanguard Personalized Indexing Management LLC. This particular company has recently acquired a new stake in Azenta, Inc. (NASDAQ:AZTA) during the 4th quarter, according to their latest disclosure with the Securities and Exchange Commission.
This move by Vanguard Personalized Indexing Management LLC comes after Azenta (NASDAQ:AZTA) last announced its earnings results on Tuesday, May 9th. The company reported an earnings per share (EPS) of ($0.06) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Despite this underwhelming performance, Azenta’s quarterly revenue was up 2.0% on a year-over-year basis – reaching $148.40 million for the period.
Despite ongoing concerns regarding profitability margins — in light of its negative net margin of 7.79% — there has been some positive news for Azenta shareholders as it recorded a positive return on equity at 0.81%. The success has remained muted for due to keep constraints in place that are restricting global business trade while limiting significant growth opportunities for many corporations around the world.
Looking ahead, investors will remain focused on any new information or developments regarding Azenta’s earnings outlook over the next few quarters. Current equities research analysts predict that it will post an EPS value of approximately 0.15 cents come year-end.
For those who are keen to explore further details and analysis from other respected hedge funds who have stakes in Azenta, checking out HoldingsChannel.com could provide greater insight into trading activities among insiders and stakeholders alike.
Overall, these recent moves signal that many within the investment community remain cautiously optimistic about what lies ahead for companies such as Azenta despite market volatility levels being affected by political circumstances both personally and globally speaking. A watchful eye will undoubtedly be kept on companies across a wide range of industries, demonstrating how just one small change can have an immense impact in today’s complex and perplexing financial landscape.
Institutional Investors Increase Holdings in Azenta, Inc. Despite Recent Downgrades
Institutional investors have recently bought and sold shares of Azenta, Inc. (NASDAQ:AZTA). EverSource Wealth Advisors LLC increased its holdings by 321.7% in the fourth quarter, while Standard Family Office LLC purchased a new position in Azenta during the third quarter. Rockefeller Capital Management L.P. raised its position in Azenta, and Signaturefd LLC lifted its stake in the company during the same period. Finally, CWM LLC boosted its holdings in shares of Azenta by 47.2% in the fourth quarter.
Currently, 96.42% of the stock is owned by institutional investors and hedge funds. Shares of AZTA opened at $41.51 on May 26, 2023, with a market cap of $2.71 billion, a P/E ratio of -65.89 and a beta of 1.58. With a low of $36.01 and a high of $78.82 over the last twelve months, it has an average moving average price for fifty days at $42.78 while its two-hundred day moving average is $49.88.
Various research analysts have reported on AZTA shares lately; Stephens downgraded shares of Azenta from an “overweight” rating to an “equal weight” rating while decreasing their target price for the company to $60 from $65; Needham & Company LLC decreased their price objective on Azenta from $68 to $55; TheStreet lowered Azenta from a “c-” rating to a “d” rating recently while finally B.Riley decreased their price target from $77 to $68 but regards it as a buy rating.
Azenta offers automated cold storage solutions for biological and chemical compound samples for life sciences sample exploration management solutions as providers for life sciences products with two corresponding segments which are Life Sciences Products and Life Sciences Services.
To see other hedge funds holding AZTA, visit HoldingsChannel.com to keep updated on the latest 13F filings and insider trades. Bloomberg reported that the stock currently has a consensus rating of “Moderate Buy” with a consensus price target of $64.20.
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