Kerrisdale Advisers LLC Boosts Stock Holdings in Azenta, Inc. $AZTA

Key Points

• Kerrisdale Advisers increased its Azenta stake by 1,419.5% in the second quarter, ending with 290,682 shares worth approximately $7.4 million. Institutional investors collectively own 99.08% of AZTA.
• Azenta reported quarterly revenue of $161.18 million and adjusted earnings of $0.16 per share, exceeding analyst estimates of $149.31 million and $0.11, respectively.
• Analyst sentiment remains mixed: four analysts rate Azenta a Buy, two recommend Hold, and one recommends Sell. The overall consensus is Hold, with an average price target of $41.20.

Kerrisdale Advisers LLC lifted its holdings in shares of Azenta, Inc. (NASDAQ:AZTA - Free Report) by 1,419.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 290,682 shares of the company's stock after acquiring an additional 271,552 shares during the quarter. Azenta accounts for about 1.9% of Kerrisdale Advisers LLC's holdings, making the stock its 11th largest position. Kerrisdale Advisers LLC owned about 0.66% of Azenta worth $7,418,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in AZTA. Integrated Wealth Concepts LLC bought a new stake in Azenta in the first quarter worth about $435,000. Millennium Management LLC increased its stake in shares of Azenta by 214.8% during the 1st quarter. Millennium Management LLC now owns 340,580 shares of the company's stock worth $11,798,000 after purchasing an additional 232,405 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Azenta by 10.5% in the 1st quarter. Empowered Funds LLC now owns 6,482 shares of the company's stock worth $225,000 after purchasing an additional 618 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Azenta by 17.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 201,337 shares of the company's stock valued at $6,974,000 after purchasing an additional 30,492 shares during the last quarter. Finally, Creative Planning purchased a new position in Azenta in the second quarter valued at approximately $270,000. Hedge funds and other institutional investors own 99.08% of the company's stock.

Azenta Stock Performance

NASDAQ:AZTA opened at $32.95 on Monday. Azenta, Inc. has a 52-week low of $15.93 and a 52-week high of $41.73. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -11.94 and a beta of 1.37. The business's fifty day moving average is $28.93 and its 200 day moving average is $25.16.

Azenta (NASDAQ:AZTA - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.11 by $0.05. Azenta had a positive return on equity of 1.18% and a negative net margin of 20.63%.The business had revenue of $161.18 million during the quarter, compared to the consensus estimate of $149.31 million.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AZTA shares. Weiss Ratings raised Azenta from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday. Needham & Company LLC boosted their price objective on Azenta from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $41.20.

Azenta Profile

Azenta, Inc NASDAQ: AZTA is a life sciences technology company specializing in sample management, cryogenic storage and genomic services for research and clinical applications. Formerly the Life Sciences division of Brooks Automation, Azenta provides integrated solutions that enable customers to store, track and analyze biological samples with high levels of automation, data integrity and efficiency. Its offerings span automated storage systems, biorepository management software and end‐to‐end sample tracking workflows.

In addition to hardware and informatics platforms for sample storage, Azenta's Genomics business delivers next‐generation sequencing (NGS), DNA synthesis, and molecular biology services.

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