Azenta, Inc. $AZTA Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in Azenta, Inc. by 4.6%, owning approximately 4.67% of the company after selling over 103,000 shares.
• Azenta reported a quarterly earnings per share of $0.19, exceeding estimates, but its revenue was down from analyst expectations.
• Institutional investors and hedge funds now hold 99.08% of Azenta's stock, indicating significant institutional interest in the company.

Kayne Anderson Rudnick Investment Management LLC decreased its position in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,134,194 shares of the company's stock after selling 103,778 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 4.67% of Azenta worth $73,928,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of AZTA. Raymond James Financial Inc. acquired a new position in shares of Azenta during the fourth quarter valued at $2,331,000. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Azenta by 13.5% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 43,554 shares of the company's stock valued at $2,178,000 after acquiring an additional 5,182 shares during the period. First Trust Advisors LP acquired a new position in shares of Azenta during the fourth quarter valued at $1,034,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Azenta by 4.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,850 shares of the company's stock valued at $1,593,000 after acquiring an additional 1,356 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Azenta during the fourth quarter valued at $3,925,000. Institutional investors and hedge funds own 99.08% of the company's stock.

Azenta Trading Up 2.1%

AZTA stock traded up $0.62 during trading on Friday, hitting $30.54. The company had a trading volume of 437,306 shares, compared to its average volume of 719,026. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -12.62 and a beta of 1.59. The business has a 50 day moving average of $31.37 and a 200 day moving average of $32.07. Azenta, Inc. has a fifty-two week low of $23.91 and a fifty-two week high of $55.63.

Azenta (NASDAQ:AZTA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.06. Azenta had a negative net margin of 18.45% and a positive return on equity of 1.35%. The business had revenue of $143.94 million during the quarter, compared to the consensus estimate of $149.64 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company's quarterly revenue was up .0% compared to the same quarter last year. As a group, equities analysts predict that Azenta, Inc. will post 0.53 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Stephens assumed coverage on shares of Azenta in a report on Tuesday, July 22nd. They set an "equal weight" rating and a $35.00 price target for the company. Raymond James Financial raised shares of Azenta from a "market perform" rating to an "outperform" rating and set a $35.00 price target for the company in a report on Wednesday, August 6th. Evercore ISI set a $33.00 price target on shares of Azenta and gave the company an "in-line" rating in a report on Tuesday, August 5th. Finally, Needham & Company LLC reduced their price objective on shares of Azenta from $59.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $35.75.

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.