Azenta (NASDAQ:AZTA) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Azenta (NASDAQ:AZTA) released its quarterly earnings results on Tuesday. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05, Zacks reports. Azenta had a positive return on equity of 1.23% and a negative net margin of 30.49%.

Azenta Stock Up 0.8%

AZTA stock traded up $0.25 during trading on Tuesday, hitting $30.13. The company had a trading volume of 886,741 shares, compared to its average volume of 932,749. The firm has a market cap of $1.39 billion, a PE ratio of -7.61 and a beta of 1.36. Azenta has a 1-year low of $15.93 and a 1-year high of $41.73. The firm has a 50-day moving average price of $24.87 and a 200-day moving average price of $25.67.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Needham & Company LLC decreased their price objective on Azenta from $44.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Weiss Ratings raised shares of Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.40.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC boosted its holdings in shares of Azenta by 41.6% in the third quarter. Millennium Management LLC now owns 1,698,562 shares of the company’s stock valued at $48,783,000 after acquiring an additional 499,216 shares in the last quarter. Scopia Capital Management LP purchased a new position in Azenta during the third quarter worth about $14,026,000. Quantinno Capital Management LP raised its holdings 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 purchasing an additional 469,447 shares in the last quarter. Park West Asset Management LLC lifted its position in Azenta by 57.8% in the fourth quarter. Park West Asset Management LLC now owns 700,003 shares of the company’s stock valued at $23,282,000 after purchasing an additional 256,488 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Azenta by 49.3% in the second quarter. Ameriprise Financial Inc. now owns 722,576 shares of the company’s stock valued at $22,241,000 after purchasing an additional 238,444 shares during the period. 99.08% of the stock is currently owned by hedge funds and other institutional investors.

About Azenta

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.