TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed the Russell 2000 Growth Index and returned 3.28% (net), and the index return was 0.24%. Strength in Industrials, Consumer Staples, Consumer Discretionary, and Information Technology sectors contributed to the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
TimesSquare Capital highlighted stocks like Azenta, Inc. (NASDAQ:AZTA) in its Q3 2022 investor letter. Headquartered in Chelmsford, Massachusetts, Azenta, Inc. (NASDAQ:AZTA) provides life science products and services. On December 19, 2022, Azenta, Inc. (NASDAQ:AZTA) stock closed at $57.15 per share. One-month return of Azenta, Inc. (NASDAQ:AZTA) was -0.56%, and its shares lost 42.04% of their value over the last 52 weeks. Azenta, Inc. (NASDAQ:AZTA) has a market capitalization of $4.287 billion.
TimesSquare Capital made the following comment about Azenta, Inc. (NASDAQ:AZTA) in its Q3 2022 investor letter:
“The Health Care sector provided no balm to our performance in the third quarter. One area of pain was Azenta, Inc. (NASDAQ:AZTA), which was the strategy’s greatest detractor. A designer of cryogenic solutions for the life science industry, Azenta’s recent results met expectations, though management lowered its guidance for the next quarter. The lingering effects of COVID in China, which caused sporadic shutdowns there, dampened that research market and its demand for Azenta services. There were also some investor concerns about the future benefits from Azenta’s planned acquisition of a European cold chain logistics company, though we are optimistic about its long-term prospects. However, this quarter Azenta’s shares retreated by -41%.”
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Azenta, Inc. (NASDAQ:AZTA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Azenta, Inc. (NASDAQ:AZTA) at the end of the third quarter, which was 23 in the previous quarter.
We discussed Azenta, Inc. (NASDAQ:AZTA) in another article and shared the top automation companies in the U.S. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
