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

Azenta (NASDAQ:AZTA) announced its quarterly earnings data on Tuesday. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05, Zacks reports. Azenta had a positive return on equity of 1.23% and a negative net margin of 30.49%.The business had revenue of $161.18 million during the quarter, compared to the consensus estimate of $149.31 million.

Azenta Trading Up 0.8%

Shares of AZTA stock opened at $30.13 on Wednesday. The business’s 50-day moving average price is $25.07 and its 200-day moving average price is $25.60. Azenta has a 12 month low of $15.93 and a 12 month high of $41.73. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -7.61 and a beta of 1.37.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AZTA. Integrated Wealth Concepts LLC acquired a new stake in Azenta during the 1st quarter worth approximately $435,000. Millennium Management LLC increased its position in Azenta by 214.8% in the 1st quarter. Millennium Management LLC now owns 340,580 shares of the company’s stock valued at $11,798,000 after acquiring an additional 232,405 shares during the period. Empowered Funds LLC raised its stake in shares of Azenta by 10.5% during 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Azenta by 17.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 201,337 shares of the company’s stock valued at $6,974,000 after acquiring an additional 30,492 shares during the last quarter. Finally, Creative Planning acquired a new position in shares of Azenta during the second quarter worth $270,000. Institutional investors and hedge funds own 99.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings upgraded Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 15th. Needham & Company LLC dropped their target price on shares of Azenta from $44.00 to $33.00 and set a “buy” rating for the company 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. According to data from MarketBeat.com, Azenta presently has a consensus rating of “Hold” and a consensus price target of $40.40.

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.