Azenta (NASDAQ:AZTA) Releases Earnings Results, Beats Expectations By $0.08 EPS

Azenta (NASDAQ:AZTA) issued its earnings results on Tuesday. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.10 by $0.08, Briefing.com reports. The firm had revenue of $170.00 million during the quarter, compared to analysts’ expectations of $169.66 million. Azenta had a positive return on equity of 0.98% and a negative net margin of 25.01%. Azenta’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business earned $0.13 earnings per share.

Azenta Stock Performance

AZTA traded down $1.88 during midday trading on Thursday, hitting $42.63. The company had a trading volume of 770,431 shares, compared to its average volume of 500,230. Azenta has a twelve month low of $40.24 and a twelve month high of $69.16. The company has a market capitalization of $2.09 billion, a PE ratio of -14.35 and a beta of 1.48. The firm’s 50-day simple moving average is $45.68 and its 200-day simple moving average is $50.54.

Insider Transactions at Azenta

In other Azenta news, CFO Herman Cueto sold 1,595 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $43.68, for a total transaction of $69,669.60. Following the transaction, the chief financial officer now directly owns 24,604 shares in the company, valued at approximately $1,074,702.72. This represents a 6.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.77% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Evercore ISI lowered their target price on shares of Azenta from $53.00 to $50.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Needham & Company LLC cut their price objective on Azenta from $69.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.60.

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.