Azenta (NASDAQ:AZTA) Posts Quarterly Earnings Results

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

Azenta Stock Down 2.6 %

Shares of Azenta stock traded down $1.14 during trading on Thursday, hitting $43.37. The stock had a trading volume of 152,995 shares, compared to its average volume of 497,436. The company has a market capitalization of $2.12 billion, a PE ratio of -14.99 and a beta of 1.48. Azenta has a 1 year low of $40.24 and a 1 year high of $69.16. The stock has a 50 day simple moving average of $45.78 and a 200 day simple moving average of $50.59.

Insider Activity

In related news, CFO Herman Cueto sold 1,595 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,074,702.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.77% of the company’s stock.

Analyst Ratings Changes

AZTA has been the topic of a number of recent analyst reports. Needham & Company LLC cut their price objective on shares of Azenta from $69.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday. Evercore ISI dropped their price target on shares of Azenta from $53.00 to $50.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.