Zacks Investment Research Downgrades Agilent Technologies, Inc. (A) to Hold
Agilent Technologies, Inc. (NYSE:A) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Agilent Technologies is a broad-based OEM of test and measurement equipment. The company’s fiscal third quarter results were above the Zacks Consensus estimate. Year to date, the stock has slightly underperformed the Industry it belongs to. The company’s decision to divest/wind up underperforming businesses has enhanced its focus on the new Agilent, while enabling expansion of a solid recurring revenue base and diversification of geographic and industrial operations for growth. Also, the company’s focus on aligning investments so as to be oriented toward more attractive growth avenues and innovative high-margin product launches are positives. Agilent’s broad-based portfolio and increased focus on segments offer higher growth potential. However, the macro weakness in the U.S. and Europe and forex headwinds remain concerns.”
A number of other analysts have also recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating on shares of Agilent Technologies in a research note on Tuesday. Robert W. Baird reissued a “buy” rating and issued a $70.00 price objective on shares of Agilent Technologies in a research note on Friday, October 20th. Cowen and Company reissued a “hold” rating and issued a $65.00 price objective on shares of Agilent Technologies in a research note on Thursday, September 28th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $68.00 price objective on shares of Agilent Technologies in a research note on Tuesday, September 26th. Finally, Bank of America Corporation raised their target price on shares of Agilent Technologies from $66.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 16th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $66.70.
Agilent Technologies (A) opened at $68.79 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.22 and a quick ratio of 2.76. Agilent Technologies has a 52-week low of $42.92 and a 52-week high of $69.09. The firm has a market cap of $22,120.00, a P/E ratio of 29.46, a price-to-earnings-growth ratio of 2.64 and a beta of 1.28.
Agilent Technologies (NYSE:A) last announced its quarterly earnings data on Tuesday, August 15th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.07. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Agilent Technologies had a net margin of 14.36% and a return on equity of 16.95%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 earnings per share. sell-side analysts predict that Agilent Technologies will post 2.32 EPS for the current fiscal year.
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In other Agilent Technologies news, CFO Didier Hirsch sold 72,545 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $62.38, for a total transaction of $4,525,357.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick Kaltenbach sold 5,000 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $63.26, for a total transaction of $316,300.00. The disclosure for this sale can be found here. Insiders have sold 140,292 shares of company stock valued at $8,917,544 in the last quarter.
Several institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. lifted its holdings in shares of Agilent Technologies by 0.3% in the 2nd quarter. Advisor Group Inc. now owns 3,959 shares of the medical research company’s stock worth $235,000 after acquiring an additional 10 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Agilent Technologies by 0.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,658 shares of the medical research company’s stock worth $276,000 after acquiring an additional 35 shares during the last quarter. Veritable L.P. lifted its holdings in shares of Agilent Technologies by 0.4% in the 2nd quarter. Veritable L.P. now owns 10,896 shares of the medical research company’s stock worth $646,000 after acquiring an additional 40 shares during the last quarter. Balentine LLC lifted its holdings in shares of Agilent Technologies by 2.9% in the 2nd quarter. Balentine LLC now owns 1,794 shares of the medical research company’s stock worth $106,000 after acquiring an additional 50 shares during the last quarter. Finally, Kingfisher Capital LLC lifted its holdings in shares of Agilent Technologies by 0.3% in the 2nd quarter. Kingfisher Capital LLC now owns 22,643 shares of the medical research company’s stock worth $1,343,000 after acquiring an additional 58 shares during the last quarter.
Agilent Technologies Company Profile
Agilent Technologies, Inc provides application focused solutions that include instruments, software, services and consumables for the entire laboratory workflow. The Company serves the life sciences, diagnostics and applied chemical markets. It has three business segments: life sciences and applied markets business, diagnostics and genomics business, and Agilent CrossLab business.
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