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

Azenta (NASDAQ:AZTA) announced its earnings results 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 negative net margin of 25.01% and a positive return on equity of 0.98%. The company had revenue of $170.00 million during the quarter, compared to analyst estimates of $169.66 million. During the same period in the previous year, the business earned $0.13 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year.

Azenta Trading Down 1.3 %

Shares of NASDAQ:AZTA traded down $0.59 during trading on Thursday, reaching $43.92. 71,715 shares of the company traded hands, compared to its average volume of 497,068. Azenta has a 52-week low of $40.24 and a 52-week high of $69.16. The business’s fifty day moving average is $45.78 and its 200-day moving average is $50.59. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -14.99 and a beta of 1.48.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, CFO Herman Cueto sold 1,595 shares of the 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 completion of the sale, the chief financial officer now directly owns 24,604 shares in the company, valued at approximately $1,074,702.72. This represents a 0.00 % decrease in their ownership of the stock. 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 insiders.

Azenta Company Profile

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.