Azenta (NASDAQ:AZTA – Get Free Report) posted its earnings results on Monday. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12, Briefing.com reports. Azenta had a positive return on equity of 0.73% and a negative net margin of 2.14%. The company had revenue of $165.95 million for the quarter, compared to the consensus estimate of $163.91 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. Azenta updated its FY 2024 guidance to $0.19-$0.29 EPS.
Azenta Stock Up 13.9 %
Shares of AZTA opened at $54.45 on Wednesday. Azenta has a fifty-two week low of $36.01 and a fifty-two week high of $63.60. The firm’s 50 day moving average price is $49.49 and its 200 day moving average price is $47.97.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Raymond James started coverage on shares of Azenta in a research report on Tuesday, July 18th. They issued a “market perform” rating on the stock. Needham & Company LLC reissued a “buy” rating and issued a $68.00 target price on shares of Azenta in a research report on Tuesday. Finally, Stephens restated an “equal weight” rating and set a $55.00 price target on shares of Azenta in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.
Hedge Funds Weigh In On Azenta
Institutional investors have recently modified their holdings of the business. Virginia Retirement Systems ET AL purchased a new stake in Azenta during the 2nd quarter worth about $257,000. IMA Wealth Inc. grew its position in shares of Azenta by 0.6% during the second quarter. IMA Wealth Inc. now owns 39,535 shares of the company’s stock worth $1,845,000 after buying an additional 232 shares in the last quarter. State of Tennessee Treasury Department increased its stake in shares of Azenta by 100.6% during the second 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 period. Natixis Advisors L.P. raised its holdings in Azenta by 4.6% in the second quarter. Natixis Advisors L.P. now owns 447,249 shares of the company’s stock valued at $20,878,000 after acquiring an additional 19,594 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in Azenta in the second quarter valued at approximately $772,000. Institutional investors and hedge funds own 99.08% of the company’s stock.
Azenta Company Profile
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.
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