Teacher Retirement System of Texas Reduces Stake in Azenta, Inc.

The Teacher Retirement System of Texas has reduced its ownership in Azenta, Inc. (NASDAQ:AZTA - Free Report) by 39.5% during the fourth quarter, as indicated in its latest filing with the Securities and Exchange Commission. After selling 436,388 shares during this period, the Texas retirement system now holds 668,556 shares of Azenta's stock.

As of the end of the most recent quarter, the Teacher Retirement System of Texas had a stake in Azenta worth approximately $33,428,000, representing about 1.46% of the company's total ownership.

Recent Activity of Other Investors

In addition to the Teacher Retirement System, several other institutional investors and hedge funds have also made changes to their positions in Azenta. For instance, Ballentine Partners LLC increased its stake by 2.0% in the fourth quarter, now owning 20,340 shares worth about $1,017,000 after acquiring an additional 404 shares. Highlights of other significant investor activity include Picton Mahoney Asset Management, which boosted its holdings by 305.7% during the same quarter, now owning 706 shares valued at $35,000 after adding 532 shares.

Moreover, Glenmede Trust Co. NA raised its stake in Azenta by 6.3%, bringing its total share count to 11,379 valued at $551,000, after purchasing an additional 679 shares. KBC Group NV increased its position by 48.5%, now holding 2,137 shares worth $107,000 after acquiring 698 more shares in the fourth quarter. Lastly, Oregon Public Employees Retirement Fund raised its stake by 7.0%, ending up with 10,700 shares valued at $535,000 after buying 702 additional shares.

Overall, institutional investors now hold a whopping 99.08% of Azenta's shares.

Azenta's Stock Performance

As for Azenta's stock performance, it opened at $37.79 on Friday. The company's stock has seen a 52-week low of $35.56 and a high of $63.58. Currently, Azenta, Inc. has a market capitalization of approximately $1.73 billion, with a PE ratio of -12.68 and a beta of 1.52. It also has a 50-day moving average of $46.99 and a 200-day moving average of $46.73.

In its most recent quarterly earnings report, posted on February 5th, Azenta announced earnings of $0.08 per share, which exceeded analysts' expectations of $0.05 by $0.03. However, the company reported a negative net margin of 24.91% and a modest return on equity of 1.25%. Analysts forecast that Azenta will achieve earnings per share of 0.53 for the current year.

Research and Analyst Ratings

Several research firms have given attention to Azenta's stock. Needham & Company LLC raised its price target from $55.00 to $59.00 and assigned a "buy" rating in a report released on February 6th. Evercore ISI has increased its price target from $50.00 to $52.00 and provided an “in-line” rating. Meanwhile, Stephens maintained an "overweight" rating with a price target of $60.00. Lastly, TD Cowen upgraded its rating on Azenta to "hold" on February 27th. Currently, the stock holds a consensus rating of "Hold" with an average price target of $58.75.

Company Overview

Azenta, Inc. offers biological and chemical compound sample exploration and management solutions tailored for the life sciences market across multiple regions, including North America, Africa, China, the United Kingdom, as well as other parts of Europe and the Asia Pacific. The company operates through two segments: Life Sciences Products and Life Sciences Services.

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