Agilent Technologies (NYSE:A) Announces Earnings Results

Key Points

• Agilent Technologies exceeded quarterly expectations, reporting EPS of $1.62 versus the $1.49 consensus estimate and revenue of $1.88 billion compared with expectations of $1.84 billion.
• Shares traded near $155 following the results, close to the company’s 52-week high of $160.51, with a market capitalization of approximately $43.8 billion.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $160.24; several institutional investors also increased their holdings.

Agilent Technologies (NYSE:A - Get Free Report) announced its earnings results on Wednesday. The medical research company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.13, FiscalAI reports. Agilent Technologies had a return on equity of 24.33% and a net margin of 19.55%.The business had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.84 billion.

Agilent Technologies Stock Performance

Agilent Technologies stock traded up $0.39 during trading hours on Wednesday, hitting $155.16. 2,706,568 shares of the stock traded hands, compared to its average volume of 2,229,222. The firm's 50 day moving average price is $138.55 and its 200-day moving average price is $126.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.10 and a quick ratio of 1.62. The stock has a market capitalization of $43.82 billion, a price-to-earnings ratio of 31.16, a P/E/G ratio of 2.71 and a beta of 1.25. Agilent Technologies has a 1 year low of $108.35 and a 1 year high of $160.51.

Institutional Investors Weigh In On Agilent Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Compound Planning Inc. lifted its stake in Agilent Technologies by 47.8% during the 4th quarter. Compound Planning Inc. now owns 3,705 shares of the medical research company's stock valued at $504,000 after acquiring an additional 1,199 shares during the period. Invesco Ltd. raised its holdings in shares of Agilent Technologies by 32.0% during the fourth quarter. Invesco Ltd. now owns 2,590,715 shares of the medical research company's stock worth $352,519,000 after purchasing an additional 627,804 shares during the last quarter. Corient Private Wealth LLC lifted its position in Agilent Technologies by 53.7% during the fourth quarter. Corient Private Wealth LLC now owns 284,303 shares of the medical research company's stock valued at $38,685,000 after purchasing an additional 99,385 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Agilent Technologies by 1.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 60,542 shares of the medical research company's stock valued at $8,238,000 after purchasing an additional 1,131 shares during the period. Finally, Vident Advisory LLC boosted its holdings in Agilent Technologies by 4.7% in the fourth quarter. Vident Advisory LLC now owns 17,052 shares of the medical research company's stock valued at $2,320,000 after purchasing an additional 765 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have commented on A. Wolfe Research reiterated a "hold" rating on shares of Agilent Technologies in a report on Tuesday, June 2nd. Wells Fargo & Company decreased their price target on Agilent Technologies from $165.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, May 28th. Royal Bank Of Canada started coverage on Agilent Technologies in a research note on Wednesday, May 27th. They set an "outperform" rating and a $153.00 price target on the stock. TD Cowen increased their price objective on shares of Agilent Technologies from $147.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Finally, Piper Sandler started coverage on shares of Agilent Technologies in a research note on Thursday, June 11th. They issued a "neutral" rating and a $150.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $160.24.

About Agilent Technologies

Agilent Technologies is a global provider of scientific instrumentation, consumables, software and services for laboratories across the life sciences, diagnostics and applied chemical markets. The company's product portfolio includes analytical instruments such as liquid and gas chromatographs, mass spectrometers, spectroscopy systems, and laboratory automation solutions, together with reagents, supplies and informatics tools that support measurement, testing and data analysis workflows. Agilent also offers instrument maintenance, qualification and laboratory services designed to help customers improve productivity and comply with regulatory requirements.

Founded as a corporate spin-off from Hewlett‑Packard in 1999, Agilent has evolved through a combination of strategic restructuring and acquisitions to concentrate on life sciences, diagnostics and applied laboratories.

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