IndexIQ Advisors LLC Takes $4.49 Million Position in Agilent Technologies Inc (A)
IndexIQ Advisors LLC purchased a new stake in Agilent Technologies Inc (NYSE:A) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 55,798 shares of the medical research company’s stock, valued at approximately $4,485,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Findlay Park Partners LLP acquired a new stake in Agilent Technologies during the fourth quarter valued at approximately $246,229,000. Norges Bank acquired a new stake in Agilent Technologies during the fourth quarter valued at approximately $200,642,000. Oregon Public Employees Retirement Fund raised its stake in Agilent Technologies by 6,563.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,338,299 shares of the medical research company’s stock valued at $35,000 after buying an additional 2,303,208 shares in the last quarter. Deutsche Bank AG raised its stake in Agilent Technologies by 149.2% during the fourth quarter. Deutsche Bank AG now owns 2,569,193 shares of the medical research company’s stock valued at $173,312,000 after buying an additional 1,538,352 shares in the last quarter. Finally, Pendal Group Ltd raised its stake in Agilent Technologies by 17,076.7% during the fourth quarter. Pendal Group Ltd now owns 1,227,965 shares of the medical research company’s stock valued at $71,925,000 after buying an additional 1,220,816 shares in the last quarter.
In related news, SVP Michael Tang sold 6,728 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $80.50, for a total value of $541,604.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael R. Mcmullen sold 8,746 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $77.67, for a total value of $679,301.82. Following the completion of the sale, the chief executive officer now owns 447,684 shares in the company, valued at $34,771,616.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,329 shares of company stock worth $4,535,225.
Agilent Technologies (NYSE:A) last posted its earnings results on Tuesday, May 14th. The medical research company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.01). Agilent Technologies had a net margin of 22.86% and a return on equity of 19.90%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, research analysts expect that Agilent Technologies Inc will post 3.06 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Tuesday, April 2nd were given a $0.164 dividend. This represents a $0.66 annualized dividend and a yield of 0.95%. The ex-dividend date was Monday, April 1st. Agilent Technologies’s dividend payout ratio is currently 23.66%.
A number of analysts have recently weighed in on the company. Barclays dropped their price target on Agilent Technologies from $88.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday. Bank of America reiterated a “buy” rating and set a $87.00 price target (up from $78.00) on shares of Agilent Technologies in a research report on Thursday, February 21st. UBS Group assumed coverage on Agilent Technologies in a research report on Friday, March 15th. They set a “buy” rating and a $92.00 price target on the stock. Cowen increased their price target on Agilent Technologies from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. increased their price target on Agilent Technologies to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, February 21st. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $87.42.
About Agilent Technologies
Agilent Technologies, Inc provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide. It operates through 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; laboratory software and information management and analytics; laboratory automation and robotic systems; dissolution testing; vacuum pumps; and measurement technologies.
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