Azenta, Inc. (NASDAQ:AZTA) Stake Boosted by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its stake in Azenta, Inc. by 1.2%, now owning approximately 771,091 shares valued at $26.7 million.
• Analyst ratings for Azenta have been mixed, with Needham & Company lowering their target price from $59.00 to $40.00 while Evercore ISI increased theirs from $29.00 to $35.00.
• Azenta's shares have seen a 2.2% decline recently, with its market cap reported at $1.50 billion and earnings per share of $0.05 for the last quarter, falling short of expectations.

Federated Hermes Inc. grew its stake in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 771,091 shares of the company's stock after acquiring an additional 8,902 shares during the period. Federated Hermes Inc. owned 1.69% of Azenta worth $26,711,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its position in Azenta by 788.1% during the 1st quarter. Farther Finance Advisors LLC now owns 968 shares of the company's stock valued at $33,000 after buying an additional 859 shares during the period. Headlands Technologies LLC purchased a new position in Azenta in the 4th quarter worth approximately $40,000. Covestor Ltd raised its holdings in shares of Azenta by 64.2% during the fourth quarter. Covestor Ltd now owns 2,043 shares of the company's stock valued at $102,000 after purchasing an additional 799 shares during the last quarter. Quarry LP bought a new position in Azenta during the fourth quarter valued at approximately $110,000. Finally, Sterling Capital Management LLC grew its position in Azenta by 39.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,856 shares of the company's stock worth $143,000 after purchasing an additional 813 shares during the period. 99.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Needham & Company LLC lowered their price objective on Azenta from $59.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Stephens started coverage on shares of Azenta in a research note on Tuesday, July 22nd. They set an "equal weight" rating and a $35.00 target price for the company. Finally, Evercore ISI reduced their price objective on shares of Azenta from $35.00 to $33.00 and set an "in-line" rating for the company in a research note on Tuesday.

Azenta Stock Performance

Shares of AZTA traded down $5.43 during midday trading on Tuesday, hitting $26.98. 1,251,719 shares of the stock were exchanged, compared to its average volume of 768,478. The firm has a market cap of $1.24 billion, a P/E ratio of -19.44 and a beta of 1.59. Azenta, Inc. has a 52-week low of $23.91 and a 52-week high of $60.60. The stock has a fifty day simple moving average of $31.03 and a 200 day simple moving average of $34.91.

Azenta (NASDAQ:AZTA - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.06. Azenta had a positive return on equity of 1.30% and a negative net margin of 10.31%. During the same quarter last year, the company earned $0.14 EPS. The business's quarterly revenue was up .0% on a year-over-year basis. As a group, equities research analysts forecast that Azenta, Inc. will post 0.53 EPS for the current fiscal 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.