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

Azenta (NASDAQ:AZTA) released its quarterly earnings results on Tuesday. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.14), FiscalAI reports. The firm had revenue of $144.80 million during the quarter, compared to analyst estimates of $148.30 million. Azenta had a negative net margin of 10.34% and a positive return on equity of 1.43%. Azenta’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 earnings per share.

Azenta Stock Up 1.2%

Shares of Azenta stock opened at $24.61 on Wednesday. The stock has a market cap of $1.13 billion, a PE ratio of -18.23 and a beta of 1.43. Azenta has a 12 month low of $19.87 and a 12 month high of $41.73. The business has a fifty day simple moving average of $23.56 and a 200 day simple moving average of $30.23.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Weiss Ratings cut shares of Azenta from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. TD Cowen restated a “hold” rating on shares of Azenta in a research report on Wednesday, February 4th. Evercore dropped their price target on Azenta from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, February 5th. Jefferies Financial Group reduced their price objective on Azenta from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Finally, Zacks Research upgraded Azenta from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $41.33.

Institutional Trading of Azenta

Hedge funds have recently bought and sold shares of the stock. Millennium Management LLC increased its position in shares of Azenta by 9.9% in the fourth quarter. Millennium Management LLC now owns 1,866,531 shares of the company’s stock valued at $62,081,000 after acquiring an additional 167,969 shares during the last quarter. State Street Corp grew its stake in Azenta by 1.4% in the 4th quarter. State Street Corp now owns 1,732,755 shares of the company’s stock valued at $57,631,000 after buying an additional 24,062 shares during the last quarter. American Capital Management Inc. grew its position in shares of Azenta by 23.2% in the fourth quarter. American Capital Management Inc. now owns 1,021,436 shares of the company’s stock valued at $33,973,000 after purchasing an additional 192,116 shares during the last quarter. Ameriprise Financial Inc. increased its position in Azenta by 49.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 722,576 shares of the company’s stock worth $22,241,000 after buying an additional 238,444 shares during the period. Finally, Quantinno Capital Management LP increased its position in Azenta by 192.0% during the second quarter. Quantinno Capital Management LP now owns 713,939 shares of the company’s stock worth $21,975,000 after acquiring an additional 469,447 shares during the period. 99.08% of the stock is currently owned by institutional investors and hedge funds.

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.