Conestoga Capital Advisors LLC Purchases 337,675 Shares of Azenta, Inc. (NASDAQ:AZTA)

Conestoga Capital Advisors LLC raised its position in shares of Azenta, Inc. (NASDAQ:AZTA) by 21.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,915,556 shares of the company’s stock after buying an additional 337,675 shares during the quarter. Conestoga Capital Advisors LLC owned about 4.19% of Azenta worth $66,355,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AZTA. Picton Mahoney Asset Management increased its stake in shares of Azenta by 305.7% in the 4th quarter. Picton Mahoney Asset Management now owns 706 shares of the company’s stock worth $35,000 after acquiring an additional 532 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Azenta in the fourth quarter worth about $40,000. Farther Finance Advisors LLC increased its stake in shares of Azenta by 788.1% during the first quarter. Farther Finance Advisors LLC now owns 968 shares of the company’s stock valued at $33,000 after purchasing an additional 859 shares in the last quarter. Covestor Ltd lifted 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. Finally, Quarry LP purchased a new position in shares of Azenta during the fourth quarter valued at approximately $110,000. Institutional investors own 99.08% of the company’s stock.

Azenta Stock Performance

NASDAQ:AZTA opened at $30.69 on Tuesday. The firm has a market cap of $1.40 billion, a P/E ratio of -10.30 and a beta of 1.62. Azenta, Inc. has a fifty-two week low of $23.91 and a fifty-two week high of $63.58. The firm has a 50-day simple moving average of $27.41 and a two-hundred day simple moving average of $39.16.

Azenta (NASDAQ:AZTA) last issued its earnings results on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.04). Azenta had a negative net margin of 24.91% and a positive return on equity of 1.25%. During the same period in the previous year, the company earned $0.06 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts predict that Azenta, Inc. will post 0.53 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AZTA shares. Needham & Company LLC cut their price target on Azenta from $59.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. TD Cowen raised Azenta to a “hold” rating in a report on Thursday, February 27th.

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.