Joseph Jason, Senior Vice President, General Counsel, and Secretary at Azenta, Inc. (NASDAQ:AZTA), recently sold 1,139 shares of the company. The shares were sold at a weighted average price of $40.07, totaling approximately $45,639. The transaction was conducted to satisfy tax withholding obligations related to the vesting of restricted stock units. Following this transaction, Jason holds 112,564 shares of Azenta.
In other recent news, Azenta Inc. experienced a series of significant developments. The company reported a 2% decrease in annual revenue for fiscal year 2024, totaling $656 million. However, its core divisions, Sample Management Services (SMS) and Multiomics, saw an organic growth of 4%. Needham revised its price target for Azenta to $55, down from $69, while maintaining a Buy rating, following the company's fourth quarter results. Evercore ISI also adjusted its price target for Azenta from $50 to $48, keeping an In Line rating.
Azenta announced its intention to divest B Medical (TASE:PMCN) Systems, a strategic shift expected to be completed in the first half of 2025. The company's fiscal year 2025 guidance has been adjusted to exclude B Medical's contributions, but it has incorporated a moderated growth forecast for the SMS and Multiomics divisions.
Looking ahead, Azenta forecasts a 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. As part of its transformation program "Ascend 2026", Azenta continues to target site rationalization and operational simplification.
InvestingPro Insights
As we delve deeper into Azenta's financial landscape, InvestingPro data reveals some intriguing insights that complement the recent insider transaction. The company's market capitalization stands at $2.08 billion, reflecting its significant presence in the industry. Despite the recent share sale by the Senior Vice President, Azenta's financial position appears to have some strengths.
According to InvestingPro Tips, Azenta holds more cash than debt on its balance sheet, indicating a strong liquidity position. This aligns with another tip stating that the company's liquid assets exceed short-term obligations, suggesting financial stability in the near term. These factors could provide some reassurance to investors in light of the 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 -14.85. This might explain why the company does not pay a dividend to shareholders, as pointed out by another InvestingPro Tip. On a more positive note, analysts predict that the company will be profitable this year, which could signal a potential turnaround.
The company's revenue for the last twelve months as of Q4 2024 was $656.32 million, with a slight decline in revenue growth of -1.32%. Despite this, Azenta maintains a healthy gross profit margin of 40.73%, indicating efficient cost management in its core operations.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. In fact, there are 5 more InvestingPro Tips available for Azenta, which could provide valuable context for understanding the company's financial health and future prospects.
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