John G Ullman & Associates Inc. Sells 9,273 Shares of Azenta, Inc. (NASDAQ:AZTA)

Key Points

• John G Ullman & Associates Inc. reduced its stake in Azenta, Inc. by 8.3%, selling 9,273 shares and owning 102,552 shares worth approximately $3.55 million as of the latest filing.
• Several other institutional investors significantly adjusted their positions, with Farther Finance Advisors LLC increasing its stake by 788.1% during the same quarter.
• Azenta reported $0.05 earnings per share for the last quarter, missing analyst expectations, despite a 5.1% increase in quarterly revenue year-over-year.

John G Ullman & Associates Inc. lessened its stake in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) by 8.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 102,552 shares of the company's stock after selling 9,273 shares during the quarter. John G Ullman & Associates Inc. owned about 0.22% of Azenta worth $3,552,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Lord Abbett & CO. LLC bought a new stake in Azenta during the fourth quarter worth approximately $47,350,000. Norges Bank bought a new stake in Azenta during the fourth quarter worth approximately $25,403,000. Schroder Investment Management Group boosted its holdings in Azenta by 46.7% during the fourth quarter. Schroder Investment Management Group now owns 1,405,056 shares of the company's stock worth $70,183,000 after buying an additional 447,292 shares in the last quarter. Marshall Wace LLP bought a new stake in Azenta during the fourth quarter worth approximately $20,469,000. Finally, Conestoga Capital Advisors LLC boosted its holdings in Azenta by 21.4% during the first quarter. Conestoga Capital Advisors LLC now owns 1,915,556 shares of the company's stock worth $66,355,000 after buying an additional 337,675 shares in the last quarter. Institutional investors and hedge funds own 99.08% of the company's stock.

Analyst Upgrades and Downgrades

AZTA has been the subject of a number of research reports. Needham & Company LLC reduced their target price 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. Stephens began coverage on Azenta in a report on Tuesday, July 22nd. They issued an "equal weight" rating and a $35.00 target price for the company. Finally, Evercore ISI raised their target price on Azenta from $29.00 to $35.00 and gave the stock an "in-line" rating in a research report on Tuesday, July 8th.

Azenta Stock Down 0.4%

Shares of Azenta stock traded down $0.13 during midday trading on Monday, hitting $34.31. The company's stock had a trading volume of 218,305 shares, compared to its average volume of 769,577. The firm has a market capitalization of $1.57 billion, a P/E ratio of -24.68 and a beta of 1.64. The stock has a 50-day simple moving average of $30.35 and a 200-day simple moving average of $35.71. Azenta, Inc. has a 1-year low of $23.91 and a 1-year high of $63.58.

Azenta (NASDAQ:AZTA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). Azenta had a negative net margin of 10.31% and a positive return on equity of 1.30%. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS. As a group, sell-side analysts predict that Azenta, Inc. will post 0.53 earnings per share for the current year.

Azenta Profile

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.