Azenta (NASDAQ:AZTA) Announces Quarterly Earnings Results

Azenta (NASDAQ:AZTA) announced its earnings results on Tuesday. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05, Zacks reports. The business had revenue of $161.18 million for the quarter, compared to analysts’ expectations of $149.31 million. Azenta had a positive return on equity of 1.15% and a negative net margin of 20.63%.

Azenta Stock Down 3.7%

AZTA traded down $1.18 during trading hours on Thursday, reaching $30.64. 32,856 shares of the company’s stock traded hands, compared to its average volume of 927,838. The firm has a 50-day moving average price of $25.28 and a 200 day moving average price of $25.55. Azenta has a 52-week low of $15.93 and a 52-week high of $41.73. The firm has a market capitalization of $1.41 billion, a PE ratio of -11.05 and a beta of 1.37.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Needham & Company LLC increased their price objective on shares of Azenta from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday. Weiss Ratings upgraded shares of Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 15th. Four 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $41.20.

Hedge Funds Weigh In On Azenta

A number of hedge funds have recently added to or reduced their stakes in AZTA. Osaic Holdings Inc. boosted its stake in Azenta by 44.9% during the second quarter. Osaic Holdings Inc. now owns 1,242 shares of the company’s stock worth $39,000 after buying an additional 385 shares during the last quarter. Empowered Funds LLC boosted its stake in Azenta by 10.5% during the first quarter. Empowered Funds LLC now owns 6,482 shares of the company’s stock worth $225,000 after buying an additional 618 shares during the period. Neuberger Berman Group LLC increased its position in shares of Azenta by 8.9% during the fourth quarter. Neuberger Berman Group LLC now owns 8,379 shares of the company’s stock valued at $279,000 after acquiring an additional 684 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Azenta by 0.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,534 shares of the company’s stock worth $2,335,000 after acquiring an additional 686 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Azenta by 2,067.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 802 shares of the company’s stock worth $27,000 after purchasing an additional 765 shares during the period. 99.08% of the stock is currently owned by institutional investors.

Azenta Company Profile

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.