PNC Financial Services Group Inc. Sells 640 Shares of Azenta, Inc. (NASDAQ:AZTA)

PNC Financial Services Group Inc. trimmed its holdings in Azenta, Inc. (NASDAQ:AZTA) by 2.5% in the 3rd quarter, Holdings Channel reports. The fund owned 25,342 shares of the company’s stock after selling 640 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Azenta were worth $1,228,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AZTA. Hantz Financial Services Inc. bought a new position in Azenta in the 2nd quarter valued at approximately $30,000. Farther Finance Advisors LLC boosted its holdings in shares of Azenta by 20.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company’s stock valued at $74,000 after acquiring an additional 256 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Azenta by 150.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock worth $84,000 after acquiring an additional 955 shares during the period. Lazard Asset Management LLC bought a new position in shares of Azenta during the 1st quarter valued at $130,000. Finally, Net Worth Advisory Group bought a new stake in shares of Azenta during the 3rd quarter valued at about $205,000. 99.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Azenta

In other Azenta news, CFO Herman Cueto sold 712 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $40.07, for a total value of $28,529.84. Following the sale, the chief financial officer now owns 23,892 shares in the company, valued at $957,352.44. This trade represents a 2.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Marotta bought 12,717 shares of Azenta stock in a transaction dated Monday, November 18th. The shares were bought at an average cost of $39.48 per share, for a total transaction of $502,067.16. Following the completion of the transaction, the chief executive officer now owns 99,612 shares of the company’s stock, valued at approximately $3,932,681.76. This trade represents a 14.63 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 3,018 shares of company stock worth $126,689. 1.77% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Needham & Company LLC decreased their price target on shares of Azenta from $69.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Evercore ISI lowered their target price on shares of Azenta from $53.00 to $50.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Azenta has a consensus rating of “Hold” and an average price target of $63.60.

Azenta Price Performance

Shares of AZTA opened at $47.11 on Thursday. The business’s 50 day simple moving average is $45.10 and its 200-day simple moving average is $49.96. Azenta, Inc. has a 1 year low of $38.82 and a 1 year high of $69.16. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -15.86 and a beta of 1.48.

Azenta (NASDAQ:AZTA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.08. The business had revenue of $170.00 million during the quarter, compared to analysts’ expectations of $169.66 million. Azenta had a negative net margin of 25.01% and a positive return on equity of 1.03%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the company posted $0.13 EPS. On average, sell-side analysts expect that Azenta, Inc. will post 0.4 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.