Agilent Technologies (NYSE:A) Shares Gap Up Following Earnings Beat

Shares of Agilent Technologies, Inc. (NYSE:A - Get Free Report) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $110.88, but opened at $116.95. Agilent Technologies shares last traded at $116.33, with a volume of 445,474 shares.

The medical research company reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. Agilent Technologies had a return on equity of 26.13% and a net margin of 17.59%. The business had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.63 billion. During the same quarter last year, the business posted $1.22 earnings per share. The business's revenue for the quarter was up 6.0% on a year-over-year basis.

Agilent Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Tuesday, July 1st will be given a $0.248 dividend. This represents a $0.99 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Tuesday, July 1st. Agilent Technologies's dividend payout ratio is currently 24.44%.

Analyst Upgrades and Downgrades

A has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price target on Agilent Technologies from $155.00 to $135.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. dropped their price target on Agilent Technologies from $160.00 to $155.00 and set an "overweight" rating for the company in a research report on Thursday. Leerink Partners raised their price target on Agilent Technologies to $135.00 and gave the company a "buy" rating in a research report on Friday. TD Cowen lifted their price objective on Agilent Technologies to $150.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Robert W. Baird dropped their price objective on Agilent Technologies from $159.00 to $140.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $140.15.

Insiders Place Their Bets

In other news, VP Rodney Gonsalves sold 1,908 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $121.98, for a total transaction of $232,737.84. Following the completion of the sale, the vice president now owns 21,786 shares in the company, valued at approximately $2,657,456.28. The trade was a 8.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel K. Podolsky sold 1,819 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $116.46, for a total value of $211,840.74. Following the sale, the director now owns 35,737 shares of the company's stock, valued at $4,161,931.02. The trade was a 4.84% decrease in their position. The disclosure for this sale can be found here.

Institutional Trading of Agilent Technologies

A number of institutional investors have recently modified their holdings of A. Norges Bank purchased a new stake in shares of Agilent Technologies during the 4th quarter worth about $456,963,000. Generation Investment Management LLP lifted its position in Agilent Technologies by 19.8% during the 1st quarter. Generation Investment Management LLP now owns 4,983,556 shares of the medical research company's stock worth $582,976,000 after acquiring an additional 824,243 shares in the last quarter. Madison Investment Advisors LLC acquired a new position in Agilent Technologies during the 4th quarter worth approximately $94,051,000. GAMMA Investing LLC lifted its position in Agilent Technologies by 15,648.1% during the 1st quarter. GAMMA Investing LLC now owns 627,247 shares of the medical research company's stock worth $73,375,000 after acquiring an additional 623,264 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Agilent Technologies by 18.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,836,105 shares of the medical research company's stock worth $448,748,000 after acquiring an additional 604,124 shares in the last quarter.

Agilent Technologies Stock Down 1.3%

The firm has a 50-day moving average of $108.44 and a 200 day moving average of $126.47. The stock has a market capitalization of $31.88 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 3.13 and a beta of 1.27. The company has a current ratio of 2.20, a quick ratio of 1.66 and a debt-to-equity ratio of 0.56.

About Agilent Technologies

Agilent Technologies, Inc provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide. The company operates in three segments: Life Sciences and Applied Markets, Diagnostics and Genomics, and Agilent CrossLab. The Life Sciences and Applied Markets segment offers liquid chromatography systems and components; liquid chromatography mass spectrometry systems; gas chromatography systems and components; gas chromatography mass spectrometry systems; inductively coupled plasma mass spectrometry instruments; atomic absorption instruments; microwave plasma-atomic emission spectrometry instruments; inductively coupled plasma optical emission spectrometry instruments; raman spectroscopy; cell analysis plate based assays; flow cytometer; real-time cell analyzer; cell imaging systems; microplate reader; laboratory software; information management and analytics; laboratory automation and robotic systems; dissolution testing; and vacuum pumps, and measurement technologies.