Agilent Technologies (NYSE:A) Posts Earnings Results, Beats Estimates By $0.14 EPS

Agilent Technologies (NYSE:AGet Rating) announced its quarterly earnings data on Monday. The medical research company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.14, MarketWatch Earnings reports. Agilent Technologies had a net margin of 19.94% and a return on equity of 28.46%. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. Agilent Technologies updated its Q1 guidance to $1.29-$1.31 EPS and its FY23 guidance to $5.61-$5.69 EPS.

Agilent Technologies Price Performance

Shares of A traded down $1.05 during mid-day trading on Monday, hitting $145.14. 1,622,464 shares of the company traded hands, compared to its average volume of 1,746,287. Agilent Technologies has a one year low of $112.52 and a one year high of $165.68. The company has a current ratio of 1.94, a quick ratio of 1.41 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average of $133.08 and a 200 day moving average of $128.04. The stock has a market capitalization of $42.97 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 2.67 and a beta of 1.06.

Agilent Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Tuesday, January 3rd will be paid a dividend of $0.225 per share. This is a boost from Agilent Technologies’s previous quarterly dividend of $0.21. This represents a $0.90 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, December 30th. Agilent Technologies’s dividend payout ratio is 19.13%.

Insider Activity

In other news, VP Padraig Mcdonnell sold 2,103 shares of the stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $122.89, for a total transaction of $258,437.67. Following the sale, the vice president now directly owns 13,217 shares of the company’s stock, valued at $1,624,237.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Padraig Mcdonnell sold 2,103 shares of the stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $122.89, for a total value of $258,437.67. Following the transaction, the vice president now directly owns 13,217 shares in the company, valued at $1,624,237.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael R. Mcmullen sold 6,775 shares of the stock in a transaction that occurred on Wednesday, October 19th. The shares were sold at an average price of $130.11, for a total transaction of $881,495.25. Following the completion of the transaction, the chief executive officer now owns 191,358 shares in the company, valued at $24,897,589.38. The disclosure for this sale can be found here. Insiders have sold 35,309 shares of company stock valued at $4,846,147 over the last three months.

Hedge Funds Weigh In On Agilent Technologies

Several large investors have recently bought and sold shares of A. Synovus Financial Corp lifted its holdings in Agilent Technologies by 2.3% in the first quarter. Synovus Financial Corp now owns 6,751 shares of the medical research company’s stock valued at $895,000 after buying an additional 153 shares during the period. Blair William & Co. IL raised its holdings in Agilent Technologies by 7.3% in the first quarter. Blair William & Co. IL now owns 28,606 shares of the medical research company’s stock worth $3,785,000 after purchasing an additional 1,957 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Agilent Technologies by 52.1% in the first quarter. Sequoia Financial Advisors LLC now owns 2,334 shares of the medical research company’s stock worth $309,000 after purchasing an additional 799 shares during the period. Vanguard Group Inc. raised its holdings in Agilent Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 24,531,170 shares of the medical research company’s stock worth $3,246,209,000 after purchasing an additional 261,435 shares during the period. Finally, Zions Bancorporation N.A. raised its holdings in Agilent Technologies by 10.8% in the first quarter. Zions Bancorporation N.A. now owns 2,880 shares of the medical research company’s stock worth $381,000 after purchasing an additional 281 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on A shares. StockNews.com started coverage on shares of Agilent Technologies in a research report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Bank of America increased their price target on shares of Agilent Technologies from $148.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Robert W. Baird increased their price target on shares of Agilent Technologies from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 17th. Credit Suisse Group started coverage on shares of Agilent Technologies in a research report on Wednesday, August 24th. They issued an “outperform” rating and a $165.00 price target for the company. Finally, Cowen increased their price target on shares of Agilent Technologies to $160.00 in a research report on Monday, August 22nd. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $151.31.

Agilent Technologies Company Profile

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Agilent Technologies, Inc provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide. 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; vacuum pumps, and measurement technologies.

See Also

Earnings History for Agilent Technologies (NYSE:A)

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