Azenta (NASDAQ:AZTA) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Azenta (NASDAQ:AZTA) issued its quarterly earnings results on Tuesday. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 1.03%. The company had revenue of $170.00 million during the quarter, compared to analysts’ expectations of $169.66 million. During the same period last year, the company posted $0.13 EPS. Azenta’s revenue was down 1.2% on a year-over-year basis.

Azenta Price Performance

Azenta stock opened at $42.63 on Friday. Azenta has a 1-year low of $40.24 and a 1-year high of $69.16. The company’s 50-day moving average is $45.68 and its 200 day moving average is $50.54.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Needham & Company LLC decreased their target price on Azenta from $69.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday. Evercore ISI lowered their price objective on shares of Azenta from $53.00 to $50.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Azenta has an average rating of “Hold” and a consensus price target of $63.60.

Insider Activity

In other news, CFO Herman Cueto sold 1,595 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $43.68, for a total value of $69,669.60. Following the sale, the chief financial officer now directly owns 24,604 shares in the company, valued at approximately $1,074,702.72. This trade represents a 6.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.77% of the company’s stock.

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.