Conestoga Capital sold its stake in Azenta after the company lowered guidance due to weak capital equipment demand and funding pressures.
Azenta Inc. (NASDAQ:AZTA) revised its full-year outlook downward, citing execution challenges and softer demand in life sciences funding. The company, which provides sample management and cold-chain solutions, saw its shares close at $31.82 on August 5, 2026, valuing it at $1.47 billion.
Shares rose 25.18% over the past month but gained just 9.23% in the last 52 weeks. Hedge fund ownership declined, with 26 funds holding the stock at the end of Q1 2026, down from 32 in the prior quarter.
Conestoga Capital exited its position, stating recovery may take longer than expected despite operational improvements.