Lecap Asset Management Ltd. Reduces Stock Position in Azenta, Inc. (NASDAQ:AZTA)

Lecap Asset Management Ltd. lessened its holdings in shares of Azenta, Inc. (NASDAQ:AZTA) by 32.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,512 shares of the company’s stock after selling 4,043 shares during the period. Lecap Asset Management Ltd.’s holdings in Azenta were worth $448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Federated Hermes Inc. lifted its stake in Azenta by 29.2% in the fourth quarter. Federated Hermes Inc. now owns 365,506 shares of the company’s stock worth $23,809,000 after acquiring an additional 82,502 shares during the period. Otter Creek Advisors LLC bought a new stake in shares of Azenta during the 4th quarter valued at about $1,511,000. Redwood Investment Management LLC purchased a new position in shares of Azenta during the first quarter valued at about $1,497,000. Susquehanna Fundamental Investments LLC bought a new position in Azenta in the first quarter worth about $615,000. Finally, Lighthouse Investment Partners LLC purchased a new stake in Azenta in the fourth quarter worth about $1,973,000. Institutional investors own 99.08% of the company’s stock.

Azenta Stock Performance

Shares of Azenta stock traded down $0.80 during midday trading on Thursday, hitting $48.60. The company had a trading volume of 63,718 shares, compared to its average volume of 472,367. Azenta, Inc. has a 52-week low of $44.00 and a 52-week high of $69.16. The stock has a market capitalization of $2.62 billion, a P/E ratio of -18.23 and a beta of 1.51. The company has a 50 day moving average of $54.79 and a 200 day moving average of $56.54.

Azenta (NASDAQ:AZTA) last issued its earnings results on Tuesday, August 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.09. Azenta had a negative net margin of 23.12% and a positive return on equity of 0.81%. The firm had revenue of $173.00 million for the quarter, compared to the consensus estimate of $166.14 million. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. Equities research analysts forecast that Azenta, Inc. will post 0.28 EPS for the current year.

Analyst Upgrades and Downgrades

AZTA has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $69.00 target price on shares of Azenta in a research report on Wednesday, August 7th. Evercore ISI raised their price objective on Azenta from $52.00 to $53.00 and gave the company an “in-line” rating in a research report on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Azenta presently has a consensus rating of “Hold” and an average price target of $67.00.

Azenta Company 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.