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

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

Azenta Stock Up 13.9 %

NASDAQ AZTA opened at $54.45 on Wednesday. The firm’s fifty day moving average price is $49.49 and its two-hundred day moving average price is $47.97. Azenta has a fifty-two week low of $36.01 and a fifty-two week high of $63.60.

Analyst Ratings Changes

Several research firms have weighed in on AZTA. Raymond James initiated coverage on Azenta in a research note on Tuesday, July 18th. They set a “market perform” rating for the company. Needham & Company LLC restated a “buy” rating and set a $68.00 price objective on shares of Azenta in a research report on Tuesday. Finally, Stephens reiterated an “equal weight” rating and issued a $55.00 target price on shares of Azenta in a research report on Tuesday. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $63.67.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. State of Wyoming grew its position in Azenta by 29.5% during the 2nd quarter. State of Wyoming now owns 1,392 shares of the company’s stock worth $65,000 after acquiring an additional 317 shares during the last quarter. Stephens Inc. AR grew its holdings in shares of Azenta by 1,103.8% during the second quarter. Stephens Inc. AR now owns 1,890 shares of the company’s stock worth $88,000 after purchasing an additional 1,733 shares during the last quarter. FMR LLC acquired a new position in shares of Azenta in the second quarter valued at approximately $172,000. Verition Fund Management LLC bought a new position in Azenta in the 2nd quarter valued at approximately $207,000. Finally, Tower Research Capital LLC TRC boosted its position in Azenta by 245.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,442 shares of the company’s stock worth $161,000 after buying an additional 2,447 shares during the period. 99.08% of the stock is currently owned by institutional investors.

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.