Burlington (NYSE:BURL), MA – Violetta Hughes, Vice President and Chief Accounting Officer at Azenta, Inc. (NASDAQ:AZTA), recently sold 163 shares of the company’s common stock. The shares were sold at a weighted average price of $40.07, totaling approximately $6,531. This transaction was conducted to cover tax obligations related to the vesting of restricted stock units.
Following this sale, Hughes retains ownership of 9,920 shares in the company. The sale price for the shares ranged from $38.83 to $41.48 over the course of two days, from November 18 to November 19, 2024. Hughes has made available detailed information about the exact number of shares sold at each price, upon request.
In other recent news, Azenta Inc. has experienced several developments. The company reported a 2% decrease in annual revenue for FY 2024, totaling $656 million, and a similar dip in Q4 organic revenue. However, the company's core businesses, Sample Management Services (SMS) and Multiomics, experienced an organic growth of 4%, with Q4 revenue reaching $170 million.
Azenta has also announced plans to sell B Medical (TASE:PMCN) Systems, a move expected to be well-received by the investment community. This strategic shift is reflected in the company's fiscal year 2025 guidance, which excludes B Medical's contributions but incorporates a moderated growth forecast for the SMS and Multiomics divisions.
Needham revised its price target for Azenta to $55, down from $69, while Evercore ISI adjusted its price target from $50 to $48. Both firms maintained positive ratings on the company's stock. Azenta forecasts 3% to 5% organic revenue growth for 2025, excluding B Medical, with growth expected in the low single digits for Multiomics and in the mid-single digits for SMS.
InvestingPro Insights
To provide additional context to Violetta Hughes' recent stock sale at Azenta, Inc. (NASDAQ:AZTA), let's examine some key financial metrics and insights from InvestingPro.
According to InvestingPro data, Azenta's market capitalization stands at $2.08 billion. The company's revenue for the last twelve months as of Q4 2024 was $656.32 million, with a slight decline of 1.32% compared to the previous period. This modest revenue contraction aligns with the broader market challenges many companies are facing.
An InvestingPro Tip highlights that Azenta holds more cash than debt on its balance sheet, indicating a strong liquidity position. This financial stability could be reassuring for investors, especially in light of the recent insider sale.
Another relevant InvestingPro Tip suggests that analysts predict the company will be profitable this year, despite not being profitable over the last twelve months. This forward-looking optimism might explain why the stock still trades at a high EBITDA valuation multiple, as noted in another tip.
It's worth mentioning that InvestingPro offers 8 additional tips for Azenta, providing a more comprehensive analysis for investors interested in delving deeper into the company's prospects.
The stock's current price of $44.65 is approximately 66.27% of its 52-week high, suggesting there might be room for potential upside. Interestingly, the InvestingPro Fair Value estimate for Azenta stands at $52.5, indicating that the stock could be undervalued at its current trading price.
These insights from InvestingPro offer a broader perspective on Azenta's financial health and market position, complementing the information about the insider transaction reported in the article.
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