Azenta (NASDAQ:AZTA) Announces Earnings Results, Beats Estimates By $0.12 EPS

Azenta (NASDAQ:AZTA) released its quarterly earnings results on Monday. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.12, Briefing.com reports. Azenta had a negative net margin of 2.14% and a positive return on equity of 0.73%. The business had revenue of $165.95 million for the quarter, compared to analyst estimates of $163.91 million. During the same period last year, the firm earned $0.16 earnings per share. Azenta’s revenue for the quarter was up 25.0% compared to the same quarter last year. Azenta updated its FY 2024 guidance to $0.19-$0.29 EPS.

Azenta Stock Performance

Shares of AZTA stock opened at $54.45 on Wednesday. The firm has a fifty day simple moving average of $49.49 and a two-hundred day simple moving average of $47.97. Azenta has a 12 month low of $36.01 and a 12 month high of $63.60.

Hedge Funds Weigh In On Azenta

A number of hedge funds have recently bought and sold shares of the company. Virginia Retirement Systems ET AL purchased a new position in Azenta during the 2nd quarter worth $257,000. IMA Wealth Inc. boosted its holdings in shares of Azenta by 0.6% in the 2nd quarter. IMA Wealth Inc. now owns 39,535 shares of the company’s stock worth $1,845,000 after buying an additional 232 shares during the last quarter. State of Tennessee Treasury Department boosted its holdings in shares of Azenta by 100.6% in the 2nd quarter. State of Tennessee Treasury Department now owns 37,654 shares of the company’s stock worth $1,758,000 after buying an additional 18,880 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in shares of Azenta by 4.6% in the 2nd quarter. Natixis Advisors L.P. now owns 447,249 shares of the company’s stock worth $20,878,000 after buying an additional 19,594 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Azenta in the 2nd quarter worth about $772,000. 99.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Stephens reiterated an “equal weight” rating and set a $55.00 price objective on shares of Azenta in a research note on Tuesday. Raymond James assumed coverage on shares of Azenta in a research note on Tuesday, July 18th. They set a “market perform” rating on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $68.00 price objective on shares of Azenta in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.67.

About Azenta

Azenta, Inc provides life science sample exploration and management solutions for the life sciences market in North America, Europe, China, the Asia Pacific, and internationally. The company operates through two reportable segments, Life Sciences Products and Life Sciences Services. The Life Sciences Products segment offers automated cold sample management systems for compound and biological sample storage; equipment for sample preparation and handling; consumables; and instruments that help customers in managing samples throughout their research discovery and development workflows.