Azenta (NASDAQ:AZTA) Updates FY 2024 Earnings Guidance

Azenta (NASDAQ:AZTA) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.19-$0.29 for the period, compared to the consensus earnings per share estimate of $0.22. The company issued revenue guidance of $696.00 million-$718.00 million, compared to the consensus revenue estimate of $705.60 million.

Azenta Stock Down 0.6 %

AZTA stock opened at $54.13 on Thursday. The stock has a market capitalization of $3.26 billion, a P/E ratio of -300.72 and a beta of 1.52. Azenta has a 52 week low of $36.01 and a 52 week high of $63.60. The firm has a 50-day simple moving average of $49.50 and a 200-day simple moving average of $48.02.

Azenta (NASDAQ:AZTA) last announced its earnings results on Monday, November 13th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. The business had revenue of $165.95 million during the quarter, compared to analysts’ expectations of $163.91 million. Azenta had a positive return on equity of 0.73% and a negative net margin of 2.14%. The business’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 earnings per share. On average, analysts expect that Azenta will post 0.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

AZTA has been the subject of a number of research reports. Needham & Company LLC reaffirmed a buy rating and set a $68.00 target price on shares of Azenta in a report on Tuesday. Stephens reaffirmed an equal weight rating and set a $55.00 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 given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $63.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AZTA. Mercer Global Advisors Inc. ADV acquired a new stake in Azenta during the third quarter worth about $201,000. The Manufacturers Life Insurance Company raised its position in shares of Azenta by 1.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 49,704 shares of the company’s stock valued at $2,495,000 after buying an additional 725 shares during the period. Virginia Retirement Systems ET AL acquired a new position in Azenta in the second quarter valued at approximately $257,000. IMA Wealth Inc. lifted its stake in shares of Azenta by 0.6% in the 2nd quarter. IMA Wealth Inc. now owns 39,535 shares of the company’s stock valued at $1,845,000 after purchasing an additional 232 shares during the last quarter. Finally, State of Tennessee Treasury Department increased its position in shares of Azenta by 100.6% during the 2nd quarter. State of Tennessee Treasury Department now owns 37,654 shares of the company’s stock worth $1,758,000 after purchasing an additional 18,880 shares during the last quarter. Institutional investors and hedge funds own 99.08% of the company’s stock.

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.