Meros Investment Management LP Purchases New Position in Azenta, Inc. $AZTA

Meros Investment Management LP acquired a new position in Azenta, Inc. (NASDAQ:AZTA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 220,431 shares of the company’s stock, valued at approximately $5,625,399,000. Azenta comprises 1.8% of Meros Investment Management LP’s portfolio, making the stock its 24th largest position. Meros Investment Management LP owned about 0.50% of Azenta at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new stake in shares of Azenta in the 2nd quarter worth $1,108,000. Palisade Capital Management LP bought a new position in shares of Azenta during the second quarter valued at $7,551,000. Canada Pension Plan Investment Board purchased a new stake in shares of Azenta during the second quarter valued at $260,000. Legal & General Group Plc purchased a new stake in shares of Azenta during the second quarter valued at $2,453,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Azenta in the 2nd quarter worth about $467,000. 99.08% of the stock is owned by institutional investors.

Azenta Price Performance

Shares of AZTA opened at $33.21 on Wednesday. The firm has a market capitalization of $1.45 billion, a P/E ratio of -12.03 and a beta of 1.37. Azenta, Inc. has a one year low of $15.93 and a one year high of $41.73. The business has a fifty day moving average of $28.32 and a 200 day moving average of $25.07.

Azenta (NASDAQ:AZTA) last posted its earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The company had revenue of $161.18 million for the quarter, compared to the consensus estimate of $149.31 million. Azenta had a positive return on equity of 1.18% and a negative net margin of 20.63%.

Analyst Ratings Changes

A number of brokerages have weighed in on AZTA. Needham & Company LLC boosted their target price on Azenta from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings downgraded shares of Azenta from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $41.20.

Azenta Company Profile

Azenta, Inc (NASDAQ: AZTA) is a life sciences technology company specializing in sample management, cryogenic storage and genomic services for research and clinical applications. Formerly the Life Sciences division of Brooks Automation, Azenta provides integrated solutions that enable customers to store, track and analyze biological samples with high levels of automation, data integrity and efficiency. Its offerings span automated storage systems, biorepository management software and end‐to‐end sample tracking workflows.

In addition to hardware and informatics platforms for sample storage, Azenta’s Genomics business delivers next‐generation sequencing (NGS), DNA synthesis, and molecular biology services.