Bank of America Corp DE Makes New Investment in Agilent Technologies, Inc. $A

Key Points

• Bank of America initiated a sizable Agilent Technologies position, purchasing 1.61 million shares worth approximately $213.3 million, representing about 0.57% of the company.
• Agilent reported quarterly results above expectations, with EPS of $1.62 versus the $1.49 consensus and revenue of $1.88 billion, up 8.1% year over year.
• The stock rose 2.1% to $153.46, while analysts maintained a broadly positive outlook with a “Moderate Buy” consensus and an average price target of $170.33; Agilent also declared a quarterly dividend of $0.255 per share.

Bank of America Corp DE purchased a new stake in Agilent Technologies, Inc. (NYSE:A - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 1,605,576 shares of the medical research company's stock, valued at approximately $213,269,000. Bank of America Corp DE owned about 0.57% of Agilent Technologies as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in Agilent Technologies in the fourth quarter valued at approximately $549,158,000. Bank of New York Mellon Corp grew its stake in shares of Agilent Technologies by 87.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,233,964 shares of the medical research company's stock valued at $695,227,000 after buying an additional 2,440,360 shares during the period. Legal & General Group Plc purchased a new stake in shares of Agilent Technologies during the 2nd quarter valued at $260,101,000. Man Group plc acquired a new stake in shares of Agilent Technologies during the 2nd quarter worth $179,257,000. Finally, Primecap Management Co. CA acquired a new stake in shares of Agilent Technologies during the 2nd quarter worth $176,318,000.

Agilent Technologies Stock Up 2.1%

Shares of NYSE:A opened at $153.46 on Thursday. The company has a market capitalization of $43.26 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 2.29 and a beta of 1.24. The company has a 50 day moving average of $144.90 and a two-hundred day moving average of $129.22. Agilent Technologies, Inc. has a 52-week low of $108.35 and a 52-week high of $163.75. The company has a quick ratio of 1.56, a current ratio of 2.05 and a debt-to-equity ratio of 0.50.

Agilent Technologies (NYSE:A - Get Free Report) last posted its earnings results on Wednesday, August 26th. The medical research company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.49 by $0.13. Agilent Technologies had a net margin of 19.53% and a return on equity of 24.45%. The business had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same period in the previous year, the company posted $1.37 earnings per share. The business's revenue for the quarter was up 8.1% compared to the same quarter last year. Agilent Technologies has set its Q4 2026 guidance at 1.710-1.740 EPS and its FY 2026 guidance at 6.180-6.210 EPS. As a group, analysts forecast that Agilent Technologies, Inc. will post 6.2 earnings per share for the current fiscal year.

Agilent Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Tuesday, October 6th will be paid a $0.255 dividend. The ex-dividend date is Tuesday, October 6th. This represents a $1.02 annualized dividend and a dividend yield of 0.7%. Agilent Technologies's payout ratio is 20.08%.

Analyst Ratings Changes

A number of brokerages recently weighed in on A. TD Cowen lifted their target price on Agilent Technologies from $155.00 to $180.00 and gave the company a "buy" rating in a report on Thursday, August 27th. Sanford C. Bernstein upped their price target on Agilent Technologies from $155.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, August 27th. Bank of America raised their price objective on Agilent Technologies from $155.00 to $180.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Wells Fargo & Company reduced their price objective on Agilent Technologies from $165.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday, May 28th. Finally, Jefferies Financial Group started coverage on Agilent Technologies in a report on Thursday, July 9th. They set a "hold" rating and a $135.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $170.33.

Insider Buying and Selling

In other Agilent Technologies news, Director Mikael Dolsten sold 634 shares of Agilent Technologies stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $151.38, for a total transaction of $95,974.92. Following the sale, the director directly owned 4,924 shares in the company, valued at $745,395.12. The trade was a 11.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Agilent Technologies Profile

Agilent Technologies, Inc is a global provider of analytical instruments, laboratory software, consumables and services used by organizations in the life sciences, diagnostics, pharmaceutical, chemical, environmental and food industries. Its solutions help customers analyze the composition and quality of substances, develop and manufacture products, and conduct research and testing.

The company's offerings include liquid and gas chromatography systems, mass spectrometry instruments, spectroscopy and atomic analysis equipment, automated electrophoresis systems, laboratory informatics software, columns and other consumables.

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