Kerrisdale Advisers LLC Acquires 271,552 Shares of Azenta, Inc. $AZTA

Kerrisdale Advisers LLC grew its holdings in shares of Azenta, Inc. (NASDAQ:AZTA) by 1,419.5% in the second quarter, according to the company in its most recent 13F filing 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 comprises 1.9% of Kerrisdale Advisers LLC’s investment portfolio, making the stock its 11th largest position. Kerrisdale Advisers LLC’s holdings in Azenta were worth $7,418,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its position in shares of Azenta by 2,067.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 802 shares of the company’s stock valued at $27,000 after buying an additional 765 shares in the last quarter. State of Wyoming bought a new stake in Azenta during the first quarter worth about $38,000. Osaic Holdings Inc. boosted its holdings in shares of Azenta by 44.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,242 shares of the company’s stock worth $39,000 after purchasing an additional 385 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Azenta by 98.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,392 shares of the company’s stock valued at $46,000 after purchasing an additional 689 shares during the last quarter. Finally, Allworth Financial LP purchased a new position in shares of Azenta during the 2nd quarter valued at about $48,000. 99.08% of the stock is currently owned by institutional investors.

Azenta Stock Performance

AZTA opened at $32.95 on Monday. Azenta, Inc. has a 12 month low of $15.93 and a 12 month high of $41.73. The business’s 50-day moving average price is $28.93 and its 200-day moving average price is $25.16. The company has a market cap of $1.44 billion, a P/E ratio of -11.94 and a beta of 1.37.

Azenta (NASDAQ:AZTA) last issued its earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, beating 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 company had revenue of $161.18 million during the quarter, compared to analysts’ expectations of $149.31 million.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings raised Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Needham & Company LLC boosted their price objective on shares of Azenta from $33.00 to $37.00 and gave the stock a “buy” rating in a report 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $41.20.

Azenta Company 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.