Agilent Technologies, Inc. (NYSE:A) Stake Boosted by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia increased its stake in Agilent Technologies by 125.5% during the 1st quarter, now owning 316,494 shares valued at approximately $37 million.
• Several other investors, including Mirae Asset Global Investments and Prudential PLC, also boosted their stakes in Agilent, reflecting growing institutional interest in the company.
• Analysts have varied outlooks on Agilent, with target prices ranging from $130 to $155, and a current consensus rating of "Moderate Buy".

Bank of Nova Scotia increased its position in shares of Agilent Technologies, Inc. (NYSE:A - Free Report) by 125.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 316,494 shares of the medical research company's stock after purchasing an additional 176,150 shares during the quarter. Bank of Nova Scotia owned 0.11% of Agilent Technologies worth $37,023,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in A. Mirae Asset Global Investments Co. Ltd. lifted its stake in Agilent Technologies by 13.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,674 shares of the medical research company's stock valued at $4,279,000 after buying an additional 4,362 shares during the last quarter. Prudential PLC lifted its stake in Agilent Technologies by 16.0% in the fourth quarter. Prudential PLC now owns 73,273 shares of the medical research company's stock valued at $9,843,000 after buying an additional 10,128 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Agilent Technologies by 8.3% in the first quarter. Assenagon Asset Management S.A. now owns 30,827 shares of the medical research company's stock valued at $3,606,000 after buying an additional 2,371 shares during the last quarter. Alps Advisors Inc. lifted its stake in Agilent Technologies by 29.5% in the first quarter. Alps Advisors Inc. now owns 13,358 shares of the medical research company's stock valued at $1,563,000 after buying an additional 3,040 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Agilent Technologies by 18.9% in the fourth quarter. Russell Investments Group Ltd. now owns 322,224 shares of the medical research company's stock valued at $43,289,000 after buying an additional 51,144 shares during the last quarter.

Insider Activity at Agilent Technologies

In related news, CEO Padraig Mcdonnell sold 1,508 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $117.44, for a total value of $177,099.52. Following the completion of the transaction, the chief executive officer directly owned 37,448 shares in the company, valued at approximately $4,397,893.12. This represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

A has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price objective on shares of Agilent Technologies from $155.00 to $135.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Leerink Partners lifted their price objective on shares of Agilent Technologies to $135.00 and gave the company a "buy" rating in a research note on Friday, May 30th. UBS Group lowered their target price on Agilent Technologies from $150.00 to $130.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Evercore ISI lifted their target price on Agilent Technologies from $125.00 to $130.00 and gave the stock an "in-line" rating in a report on Tuesday, July 8th. Finally, Robert W. Baird lowered their target price on Agilent Technologies from $159.00 to $140.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $139.77.

Agilent Technologies Stock Down 1.1%

A opened at $113.51 on Friday. The business has a 50 day moving average price of $117.08 and a 200 day moving average price of $120.64. Agilent Technologies, Inc. has a twelve month low of $96.43 and a twelve month high of $153.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.60 and a current ratio of 2.09. The firm has a market cap of $32.24 billion, a P/E ratio of 28.03, a price-to-earnings-growth ratio of 3.44 and a beta of 1.22.

Agilent Technologies (NYSE:A - Get Free Report) last posted its earnings results on Wednesday, May 28th. The medical research company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.05. Agilent Technologies had a return on equity of 25.92% and a net margin of 17.59%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the company earned $1.22 EPS. The company's revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts forecast that Agilent Technologies, Inc. will post 5.58 EPS for the current year.

Agilent Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Tuesday, July 1st were issued a dividend of $0.248 per share. The ex-dividend date was Tuesday, July 1st. This represents a $0.99 dividend on an annualized basis and a dividend yield of 0.9%. Agilent Technologies's payout ratio is 24.44%.

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.

Want to see what other hedge funds are holding A? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agilent Technologies, Inc. (NYSE:A - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.