Approaching the tape of fiscal progress, Azenta (NasdaqGS:AZTA) quickens its stride with a 9.92% leap in price target to 73.44 / share. This spirited growth from the prior estimate of 66.81 as of January 16, 2024, highlights an upward trend, resonating positively with market analysts and enthusiasts alike.
The Ascendancy of the Average Price Target
The average price target, a medley of insights offered by market analysts, now stands at 73.44 / share, marking a significant 9.92% swell. Recent estimations fluctuate between 64.64 on the lower end to 82.95 / share at the apex. This ascendancy heralds a promising 15.93% surge from the latest closing price of 63.35 / share.
Fathom the Fund Sentiment
A coalition of 666 funds or institutions reveal their holdings in Azenta, a surge of 16 entrants or 2.46% within the preceding quarter. The ponderous swell in average portfolio weight of all funds, now dedicated to AZTA at 0.21%, showcases a robust 5.66% uptick. Institutional ownership of total shares observed a modest retreat of 6.98% in the last three months, settling at 71,542K shares. The put/call ratio of AZTA standing at 1.41 paints a subdued, bearish outlook.
Insights into Shareholder Activity
Kayne Anderson Rudnick Investment Management poises strong with 4,623K shares, claiming a solid 8.29% holding in the company. An uptick from their previous ownership of 4,532K shares reveals an assertive 1.98% surge. The firm has bolstered its portfolio allocation in AZTA by a commendable 16.16% during the last quarter.
Politan Capital Management grips 4,578K shares, constituting an 8.21% ownership stake. The recent escalation from their previous stake of 4,519K shares showcases a steady 1.29% upsurge, with a 10.82% spike in portfolio allocation in AZTA over the last quarter.
Norges Bank now holds 2,162K shares, asserting a 3.88% ownership interest in the company. Their recent transition from owning 0K shares underscores a striking 100.00% increase in ownership.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares secure 1,910K shares, signifying a 3.43% ownership slice. Their recent divestiture from 2,039K shares signals a subdued 6.72% downtick. Nonetheless, the fund hiked its portfolio allocation in AZTA by a modest 4.57% over the last quarter.
IJH – iShares Core S&P Mid-Cap ETF maintains a sturdy 1,880K shares, claiming 3.37% ownership in the company. Their recent descent from 1,977K shares marks a mild 5.14% fall, despite a slight 0.22% surge in portfolio allocation in AZTA over the last quarter.
Diving into Azenta’s Background
Azenta stands tall as a pioneering force in the global life sciences solutions realm, facilitating impactful breakthroughs and swift therapy launches. Specializing in reliable cold-chain sample management solutions and genomic services, their reach extends to drug development, clinical research, and advanced cell therapies, catering to elite pharmaceutical, biotech, academic, and healthcare entities worldwide. Additionally, the company oversees the Semiconductor Solutions Group, a premier provider of semiconductor manufacturing automation and collaborative robotics solutions on a global scale. Positioned strategically, Azenta announced the impending sale of this division to Thomas H. Lee Partners on September 20, 2021, transitioning it to discontinued operations in recent fiscal year-end earnings announcements.
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This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
