Azenta (NASDAQ:AZTA) Releases Earnings Results, Beats Expectations By $0.03 EPS

Azenta (NASDAQ:AZTA) issued its earnings results on Wednesday. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03, Zacks reports. Azenta had a positive return on equity of 1.03% and a negative net margin of 25.01%.

Azenta Price Performance

AZTA stock traded up $0.53 during midday trading on Wednesday, hitting $52.50. 225,869 shares of the stock traded hands, compared to its average volume of 414,859. Azenta has a 1-year low of $38.82 and a 1-year high of $67.77. The stock’s fifty day simple moving average is $50.21 and its 200-day simple moving average is $49.03. The firm has a market cap of $2.40 billion, a P/E ratio of -17.72 and a beta of 1.47.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Needham & Company LLC lowered their price target on shares of Azenta from $69.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Stephens restated an “overweight” rating and issued a $60.00 target price on shares of Azenta in a research note on Thursday, January 2nd.

Insider Transactions at Azenta

In related news, CFO Herman Cueto sold 712 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $40.07, for a total value of $28,529.84. Following the completion of the sale, the chief financial officer now owns 23,892 shares of the company’s stock, valued at approximately $957,352.44. The trade was a 2.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Marotta acquired 12,717 shares of Azenta stock in a transaction on Monday, November 18th. The shares were bought at an average price of $39.48 per share, with a total value of $502,067.16. Following the completion of the transaction, the chief executive officer now directly owns 99,612 shares of the company’s stock, valued at $3,932,681.76. This trade represents a 14.63 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 1,423 shares of company stock valued at $57,020 in the last ninety days. 10.62% of the stock is currently owned by corporate 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.