Is it a Good Time to Buy Azenta (AZTA) Stock?

Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, its Investor Class fund ARTSX returned 3.23%, Advisor Class fund APDSX posted a return of 3.27%, and Institutional Class fund APHSX returned 3.27%, compared to a return of 0.24% for the Russell 2000 Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

In the third-quarter letter, Artisan Partners discussed stocks like Azenta, Inc. (NASDAQ:AZTA). Headquartered in Chelmsford, Massachusetts, Azenta, Inc. (NASDAQ:AZTA) is a sample exploration and management solutions provider for the life science market. On November 11, 2022, Azenta, Inc. (NASDAQ:AZTA) stock closed at $49.00 per share. One-month return of Azenta, Inc. (NASDAQ:AZTA)  was 19.80% and its shares lost 57.17% of their value over the last 52 weeks. Azenta, Inc. (NASDAQ:AZTA)  has a market capitalization of $3.676 billion.

Artisan Partners made the following comment about Azenta, Inc. (NASDAQ:AZTA) in its Q3 2022 investor letter:

“Azenta, Inc. (NASDAQ:AZTA) provides a broad range of products and services focused on the life sciences industry. Our thesis has been predicated on the company benefiting from the rapid rise in the number of samples being collected, analyzed and stored by pharmaceutical, diagnostic and academic researchers. Azenta provides storage systems and consumables for customers storing their own samples and offers outsourced sample storage (which given Azenta’s scale and capabilities, can be a more efficient solution). Shares were weaker during Q3 as the company’s genomic services faced headwinds from China lockdowns and a more generalized slowdown from research labs. While disappointing, our longer term thesis remains intact, and we are remaining patient with shares trading at a deep discount to our private market value (PMV) estimate.”

Copyright: dolgachov / 123RF Stock Photo

Azenta, Inc. (NASDAQ:AZTA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Azenta, Inc. (NASDAQ:AZTA) at the end of the second quarter which was 25 in the previous quarter.

We discussed Azenta, Inc. (NASDAQ:AZTA) in another article and shared Polen Capital’s views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

• 10 Stocks That May Be Splitting
• 10 Best Railroad Stocks To Buy
• Biggest Energy Companies in UK

Disclosure: None. This article is originally published at Insider Monkey.