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

Key Points

• Azenta reported quarterly EPS of $0.16, beating the consensus estimate of $0.11 by $0.05. Despite the earnings beat, the company posted a negative net margin of 30.49% and a 1.23% return on equity.
• Azenta shares rose 0.8% to $30.13, with a market capitalization of approximately $1.39 billion. The stock remains below its 52-week high of $41.73.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $40.40. Institutional investors and hedge funds own approximately 99.08% of the company’s shares.

Azenta (NASDAQ:AZTA - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.16 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%

NASDAQ AZTA traded up $0.25 on Tuesday, hitting $30.13. The company's stock had a trading volume of 886,741 shares, compared to its average volume of 932,749. Azenta has a 1-year low of $15.93 and a 1-year high of $41.73. The company's 50-day moving average is $24.87 and its 200 day moving average is $25.67. The firm has a market cap of $1.39 billion, a PE ratio of -7.61 and a beta of 1.36.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AZTA shares. 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 cut their price objective on Azenta from $44.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Azenta presently has a consensus rating of "Hold" and an average price target of $40.40.

Hedge Funds Weigh In On Azenta

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

About Azenta

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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