Azenta (NASDAQ:AZTA) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Azenta (NASDAQ:AZTA) released its quarterly earnings results on Tuesday. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07, Briefing.com reports. The company had revenue of $170.00 million for the quarter, compared to analyst estimates of $169.66 million. Azenta had a negative net margin of 23.66% and a positive return on equity of 0.89%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $0.13 earnings per share.

Azenta Trading Down 1.3 %

Shares of AZTA stock traded down $0.61 during midday trading on Wednesday, reaching $45.38. 243,652 shares of the stock were exchanged, compared to its average volume of 494,683. Azenta has a 1 year low of $40.24 and a 1 year high of $69.16. The firm has a market cap of $2.22 billion, a PE ratio of -16.26 and a beta of 1.48. The company’s 50 day moving average is $45.83 and its two-hundred day moving average is $50.64.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, CFO Herman Cueto sold 1,595 shares of the business’s 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 sale, the chief financial officer now owns 24,604 shares of the company’s stock, valued at $1,074,702.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.77% of the stock is owned by corporate insiders.

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.