Azenta (NASDAQ:AZTA) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Azenta (NASDAQ:AZTA) announced its quarterly earnings results on Tuesday. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05, Zacks reports. Azenta had a negative net margin of 30.49% and a positive return on equity of 1.23%.

Azenta Stock Up 0.8%

Shares of NASDAQ:AZTA traded up $0.25 during midday trading on Tuesday, reaching $30.13. The company’s stock had a trading volume of 886,741 shares, compared to its average volume of 932,749. The firm has a 50 day moving average of $24.87 and a 200-day moving average of $25.67. The firm has a market capitalization of $1.39 billion, a P/E ratio of -7.61 and a beta of 1.36. Azenta has a 12-month low of $15.93 and a 12-month high of $41.73.

Institutional Investors Weigh In On Azenta

Hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its position in shares of Azenta by 44.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,242 shares of the company’s stock worth $39,000 after purchasing an additional 385 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Azenta by 10.5% in the 1st quarter. Empowered Funds LLC now owns 6,482 shares of the company’s stock worth $225,000 after buying an additional 618 shares during the last quarter. Neuberger Berman Group LLC increased its position in Azenta by 8.9% during the 4th quarter. Neuberger Berman Group LLC now owns 8,379 shares of the company’s stock valued at $279,000 after buying an additional 684 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Azenta by 0.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,534 shares of the company’s stock valued at $2,335,000 after buying an additional 686 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in Azenta by 2,067.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 802 shares of the company’s stock valued at $27,000 after buying an additional 765 shares during the last quarter. Institutional investors own 99.08% of the company’s stock.

Wall Street Analyst Weigh In

AZTA has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 15th. Needham & Company LLC reduced their target price on Azenta from $44.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.40.

Azenta Company Profile

Azenta, Inc (NASDAQ: AZTA) is a life sciences technology company specializing in sample management, cryogenic storage and genomic services for research and clinical applications. Formerly the Life Sciences division of Brooks Automation, Azenta provides integrated solutions that enable customers to store, track and analyze biological samples with high levels of automation, data integrity and efficiency. Its offerings span automated storage systems, biorepository management software and end‐to‐end sample tracking workflows.

In addition to hardware and informatics platforms for sample storage, Azenta’s Genomics business delivers next‐generation sequencing (NGS), DNA synthesis, and molecular biology services.