Burlington (NYSE:BURL), MA - David Dong Wang, Senior Vice President and General Manager of SMS at Azenta, Inc. (NASDAQ:AZTA), recently sold 348 shares of the company's common stock. The shares were sold at a weighted average price of $40.07, totaling approximately $13,944. This transaction, which took place on November 19, 2024, was conducted to fulfill tax withholding obligations related to the vesting of restricted stock units.
Following this sale, Wang holds 24,114 shares of Azenta, Inc. The share price during the sale period ranged from $38.83 to $41.48. Wang has expressed willingness to provide detailed information on the specific number of shares sold at each price upon request.
In other recent news, Azenta Inc. experienced a variety of developments. The company's earnings for the fourth fiscal quarter of 2024 matched consensus on revenue and EBITDA, and exceeded expectations on earnings per share (EPS). This coincided with Azenta's announcement of several strategic shifts, including the planned divestiture of B Medical (TASE:PMCN) Systems, expected to be finalized in the first half of fiscal year 2025. Azenta's fiscal year 2025 guidance has been adjusted to exclude B Medical's contributions, but it has incorporated a moderated growth forecast for the company's SMS and Multiomics divisions.
Azenta also reported a 2% decrease in annual revenue for FY 2024, totaling $656 million. However, its core businesses, SMS and Multiomics, experienced an organic growth of 4%, with Q4 revenue reaching $170 million. Looking ahead, Azenta forecasts 3% to 5% organic revenue growth for 2025, excluding B Medical. The company anticipates growth in the low single digits for Multiomics and in the mid-single digits for SMS.
In analyst news, Needham revised its price target for Azenta to $55.00, down from the previous $69.00, while reaffirming a Buy rating on the company's shares. Similarly, Evercore ISI adjusted its price target for Azenta from $50 to $48, maintaining an In Line rating. These revisions followed Azenta's recent earnings report and strategic announcements.
InvestingPro Insights
As we delve deeper into Azenta's financial landscape, InvestingPro data reveals some intriguing insights that complement the recent insider transaction. Despite the recent stock sale by David Dong Wang, Azenta's market capitalization stands at a robust $2.08 billion, indicating substantial investor interest in the company.
One of the key InvestingPro Tips highlights that Azenta holds more cash than debt on its balance sheet. This strong liquidity position is further reinforced by another tip stating that the company's liquid assets exceed short-term obligations. These factors suggest a solid financial foundation, which could provide reassurance to investors in light of the recent insider sale.
However, it's worth noting that Azenta is not currently profitable over the last twelve months, with a negative P/E ratio of -31.12. Despite this, analysts predict that the company will be profitable this year, as indicated by another InvestingPro Tip. This optimistic outlook aligns with the expectation that net income is set to grow this year.
For investors seeking a more comprehensive analysis, InvestingPro offers 5 additional tips that could provide valuable insights into Azenta's financial health and future prospects.
The company's revenue for the last twelve months as of Q4 2024 was $656.32 million, with a slight decline of 1.32% year-over-year. Despite this minor setback, Azenta boasts a high return over the last decade, suggesting long-term value creation for shareholders.
As of the latest data, Azenta's stock is trading at 66.27% of its 52-week high, with a previous closing price of $44.65. Analysts have set a fair value target of $51 per share, while the InvestingPro Fair Value estimate stands slightly higher at $52.5, indicating potential upside for the stock.
These insights from InvestingPro provide a broader context for understanding Azenta's financial position and market sentiment, complementing the information about the insider transaction.
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