Azenta (NASDAQ:AZTA) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Azenta (NASDAQ:AZTA - Get Free Report) released its earnings results on Wednesday. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03, Zacks reports. Azenta had a positive return on equity of 1.25% and a negative net margin of 24.91%.

Azenta Stock Down 3.2 %

Shares of AZTA traded down $1.72 during midday trading on Friday, reaching $52.32. The company had a trading volume of 611,342 shares, compared to its average volume of 434,339. The firm has a 50 day simple moving average of $50.61 and a 200-day simple moving average of $49.00. Azenta has a 1-year low of $38.82 and a 1-year high of $67.77.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Stephens restated an "overweight" rating and issued a $60.00 price objective on shares of Azenta in a report on Thursday, January 2nd. Evercore ISI raised their price target on shares of Azenta from $50.00 to $52.00 and gave the stock an "in-line" rating in a research note on Thursday. Finally, Needham & Company LLC boosted their price target on shares of Azenta from $55.00 to $59.00 and gave the stock a "buy" rating in a research report on Thursday.

Insider Activity

In other Azenta news, Director William L. Cornog bought 12,500 shares of Azenta stock in a transaction on Monday, November 18th. The shares were bought at an average price of $39.60 per share, for a total transaction of $495,000.00. Following the completion of the transaction, the director now directly owns 14,755 shares of the company's stock, valued at $584,298. This trade represents a 554.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Herman Cueto sold 712 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $40.07, for a total value of $28,529.84. Following the transaction, the chief financial officer now owns 23,892 shares of the company's stock, valued at approximately $957,352.44. This represents a 2.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,423 shares of company stock valued at $57,020. 10.62% of the stock is currently owned by insiders.

Azenta Company Profile

Azenta, Inc provides biological and chemical compound sample exploration and management solutions for the life sciences market in North America, Africa, China, the United Kingdom, rest of Europe, the Asia Pacific, and internationally. The company operates in two reportable segments, Life Sciences Products and Life Sciences Services.