Azenta (NASDAQ:AZTA) Issues Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Azenta (NASDAQ:AZTA) announced its quarterly earnings data on Tuesday. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.14), FiscalAI reports. Azenta had a negative net margin of 10.34% and a positive return on equity of 1.43%. The firm had revenue of $144.80 million during the quarter, compared to analyst estimates of $148.26 million. During the same period last year, the business posted $0.01 EPS. The company’s revenue was up 1.4% on a year-over-year basis.

Azenta Stock Performance

AZTA stock traded up $0.28 during trading on Tuesday, hitting $24.61. 1,847,559 shares of the company traded hands, compared to its average volume of 809,043. The firm has a market capitalization of $1.13 billion, a PE ratio of -18.23 and a beta of 1.43. Azenta has a 1 year low of $19.87 and a 1 year high of $41.73. The company has a 50-day moving average of $23.56 and a 200-day moving average of $30.23.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. raised its position in Azenta by 44.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,242 shares of the company’s stock valued at $39,000 after purchasing an additional 385 shares during the last quarter. Empowered Funds LLC raised its position in Azenta by 10.5% during the 1st quarter. Empowered Funds LLC now owns 6,482 shares of the company’s stock valued at $225,000 after purchasing an additional 618 shares during the last quarter. Neuberger Berman Group LLC raised its position in Azenta by 8.9% during the 4th quarter. Neuberger Berman Group LLC now owns 8,379 shares of the company’s stock valued at $279,000 after purchasing an additional 684 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Azenta by 0.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,534 shares of the company’s stock valued at $2,335,000 after purchasing an additional 686 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in Azenta by 2,067.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 802 shares of the company’s stock valued at $27,000 after purchasing an additional 765 shares during the last quarter. Institutional investors own 99.08% of the company’s stock.

Analyst Ratings Changes

AZTA has been the subject of a number of research reports. TD Cowen reissued a “hold” rating on shares of Azenta in a research note on Wednesday, February 4th. Evercore cut their price objective on Azenta from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, February 5th. Zacks Research upgraded Azenta from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Needham & Company LLC reiterated a “buy” rating and issued a $44.00 price objective on shares of Azenta in a report on Tuesday, March 17th. Finally, Weiss Ratings cut Azenta from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $41.33.

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.