Agilent Technologies (NYSE:A) Releases Earnings Results, Beats Estimates By $0.01 EPS

Agilent Technologies (NYSE:A – Get Rating) released its quarterly earnings data on Tuesday. The medical research company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.01, Briefing.com reports. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. Agilent Technologies had a net margin of 19.19% and a return on equity of 30.74%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $1.13 earnings per share. Agilent Technologies updated its Q3 guidance to $1.36-1.38 EPS and its FY23 guidance to $5.60-5.65 EPS.

Agilent Technologies Price Performance

NYSE A traded down $2.67 during trading on Thursday, reaching $118.32. The company’s stock had a trading volume of 827,010 shares, compared to its average volume of 1,507,559. The firm has a fifty day moving average of $133.87 and a 200 day moving average of $144.11. Agilent Technologies has a one year low of $112.52 and a one year high of $160.26. The stock has a market capitalization of $34.99 billion, a PE ratio of 26.09, a P/E/G ratio of 1.89 and a beta of 1.03. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.11 and a quick ratio of 1.53.

Agilent Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Monday, July 3rd will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, June 30th. Agilent Technologies’s dividend payout ratio is 19.82%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. 58.com reiterated a “maintains” rating on shares of Agilent Technologies in a report on Wednesday. Robert W. Baird dropped their price target on shares of Agilent Technologies from $174.00 to $144.00 and set an “outperform” rating on the stock in a research report on Wednesday. Stifel Nicolaus reduced their price objective on shares of Agilent Technologies from $153.00 to $135.00 and set a “hold” rating for the company in a research report on Wednesday. Wells Fargo & Company dropped their target price on shares of Agilent Technologies from $170.00 to $160.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Credit Suisse Group cut their target price on Agilent Technologies from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $151.35.

Institutional Investors Weigh In On Agilent Technologies

Several hedge funds have recently bought and sold shares of the stock. Money Concepts Capital Corp bought a new stake in Agilent Technologies in the 4th quarter worth approximately $26,000. Ancora Advisors LLC purchased a new stake in Agilent Technologies during the fourth quarter valued at about $34,000. Resurgent Financial Advisors LLC bought a new position in shares of Agilent Technologies during the fourth quarter valued at about $57,000. Altshuler Shaham Ltd increased its holdings in shares of Agilent Technologies by 94.6% in the fourth quarter. Altshuler Shaham Ltd now owns 395 shares of the medical research company’s stock worth $59,000 after buying an additional 192 shares during the period. Finally, Penserra Capital Management LLC bought a new stake in shares of Agilent Technologies in the 1st quarter valued at about $60,000.

Agilent Technologies Company Profile

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Agilent Technologies, Inc engages in the provision of application focused solutions for life sciences, diagnostics, and applied chemical markets. It operates through the following segments: Life Sciences and Applied Markets, Diagnostics and Genomics, and Agilent CrossLab. The Life Sciences and Applied Markets segment offers application-focused solutions that include instruments and software that identify, quantify, and analyze the physical and biological properties of substances and products, as well as the clinical and life sciences research areas to interrogate samples at the molecular and cellular level.