Azenta (NASDAQ:AZTA) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Azenta (NASDAQ:AZTA) announced its quarterly earnings data on Wednesday. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03, Zacks reports. Azenta had a positive return on equity of 1.03% and a negative net margin of 25.01%.

Azenta Stock Performance

Shares of NASDAQ AZTA traded up $0.49 during trading on Wednesday, hitting $52.46. 227,286 shares of the company were exchanged, compared to its average volume of 414,859. The company has a fifty day moving average price of $50.21 and a 200-day moving average price of $49.03. The firm has a market capitalization of $2.40 billion, a PE ratio of -17.64 and a beta of 1.47. Azenta has a 12-month low of $38.82 and a 12-month high of $67.77.

Insider Activity at Azenta

In related news, CFO Herman Cueto sold 712 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $40.07, for a total value of $28,529.84. Following the completion of the transaction, the chief financial officer now directly owns 23,892 shares in the company, valued at approximately $957,352.44. This represents a 2.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William L. Cornog bought 12,500 shares of Azenta stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $39.60 per share, for a total transaction of $495,000.00. Following the transaction, the director now directly owns 14,755 shares of the company’s stock, valued at approximately $584,298. This trade represents a 554.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 1,423 shares of company stock valued at $57,020. 10.62% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AZTA has been the topic of several research reports. Stephens reissued an “overweight” rating and issued a $60.00 price target on shares of Azenta in a research note on Thursday, January 2nd. Needham & Company LLC decreased their target price on shares of Azenta from $69.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th.

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.