Handelsinvest Investeringsforvaltning Sells 1,565 Shares of Azenta, Inc. (NASDAQ:AZTA)

Handelsinvest Investeringsforvaltning decreased its position in shares of Azenta, Inc. (NASDAQ:AZTA) by 34.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,014 shares of the company’s stock after selling 1,565 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Azenta were worth $182,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AZTA. Park Avenue Securities LLC raised its holdings in Azenta by 1.6% during the first quarter. Park Avenue Securities LLC now owns 12,181 shares of the company’s stock worth $734,000 after buying an additional 192 shares during the last quarter. Retirement Systems of Alabama raised its holdings in Azenta by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 75,339 shares of the company’s stock worth $4,908,000 after buying an additional 230 shares during the last quarter. Headlands Technologies LLC grew its stake in shares of Azenta by 35.6% in the 4th quarter. Headlands Technologies LLC now owns 883 shares of the company’s stock worth $58,000 after acquiring an additional 232 shares in the last quarter. Raymond James & Associates grew its stake in shares of Azenta by 0.3% in the 4th quarter. Raymond James & Associates now owns 96,126 shares of the company’s stock worth $6,262,000 after acquiring an additional 285 shares in the last quarter. Finally, US Bancorp DE grew its stake in shares of Azenta by 3.8% in the 4th quarter. US Bancorp DE now owns 13,239 shares of the company’s stock worth $862,000 after acquiring an additional 480 shares in the last quarter. Institutional investors own 99.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Azenta in a research note on Thursday, April 4th. They issued a “hold” rating and a $64.00 target price for the company. Needham & Company LLC reduced their target price on shares of Azenta from $75.00 to $69.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Evercore ISI increased their price target on shares of Azenta from $52.00 to $53.00 and gave the company an “in-line” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Azenta currently has a consensus rating of “Hold” and an average target price of $67.00.

Azenta Trading Up 0.8 %

Shares of Azenta stock opened at $51.95 on Thursday. Azenta, Inc. has a 12-month low of $43.43 and a 12-month high of $69.16. The company has a market cap of $2.80 billion, a price-to-earnings ratio of -19.17 and a beta of 1.51. The company’s 50-day moving average price is $52.80 and its 200-day moving average price is $58.98.

Azenta (NASDAQ:AZTA) last announced its earnings results on Wednesday, May 8th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $159.13 million for the quarter, compared to the consensus estimate of $159.89 million. Azenta had a negative net margin of 23.12% and a positive return on equity of 0.81%. Azenta’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm posted ($0.06) earnings per share. On average, sell-side analysts predict that Azenta, Inc. will post 0.3 earnings per share for the current 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.