Azenta AZTA shares ended the final buying and selling session 7.2% greater at $49.65. The leap got here on a powerful quantity with a higher-than-average variety of shares altering arms within the session. This compares to the inventory’s 13.2% acquire over the previous 4 weeks.
Azenta scored a powerful value improve pushed by buyers’ optimism following the information of the corporate becoming a member of the S&P SmallCap 600. Per S&P Dow Jones’ press launch, Azenta changed Envestnet Inc. within the S&P SmallCap 600 efficient from November 25. Moreover, the market can also be optimistic surrounding the corporate’s announcement of fourth quarter fiscal 2024 outcomes. The corporate reported an earnings shock of 63.64% within the fourth quarter of fiscal 2024.
This provider to semiconductor producers is predicted to submit quarterly earnings of $0.05 per share in its upcoming report, which represents a year-over-year change of +150%. Revenues are anticipated to be $146.24 million, down 5.2% from the year-ago quarter.
Earnings and income development expectations actually give a great sense of the potential power in a inventory, however empirical analysis reveals that developments in earnings estimate revisions are strongly correlated with near-term inventory value actions.
For Azenta, the consensus EPS estimate for the quarter has remained unchanged during the last 30 days. And a inventory’s value normally would not maintain transferring greater within the absence of any development in earnings estimate revisions. So, be sure to keep watch over AZTA going ahead to see if this current leap can flip into extra power down the highway.
The inventory at present carries a Zacks Rank #3 (Maintain). You possibly can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
Azenta is a member of the Zacks Medical Information Methods business. One different inventory in the identical business, Encourage Medical Methods INSP, completed the final buying and selling session 2% decrease at $186.97. INSP has returned 8.3% over the previous month.
For Encourage
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Azenta, Inc. (AZTA) : Free Stock Analysis Report
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