Zacks Investment Research upgraded shares of Agilent Technologies Inc. (NYSE:A) from a hold rating to a buy rating in a research note released on Wednesday morning. Zacks Investment Research currently has $52.00 price target on the stock.
According to Zacks, “Agilent Technologies is a broad-based OEM of test and measurement equipment. 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 may temper revenue growth with the significant increase in operating expenses impacting the bottom line.”
A number of other brokerages have also recently commented on A. Morgan Stanley set a $47.00 price objective on Agilent Technologies and gave the stock a hold rating in a research note on Thursday, August 18th. Leerink Swann reaffirmed an outperform rating and set a $51.00 price objective on shares of Agilent Technologies in a research note on Thursday, June 30th. Cowen and Company lifted their price objective on Agilent Technologies from $49.00 to $51.00 and gave the stock an outperform rating in a research note on Thursday, August 18th. Robert W. Baird lifted their price objective on Agilent Technologies from $48.00 to $52.00 and gave the stock an outperform rating in a research note on Thursday, August 18th. Finally, Goldman Sachs Group Inc. reaffirmed a buy rating and set a $53.00 price objective on shares of Agilent Technologies in a research note on Wednesday, September 7th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $48.25.
Shares of Agilent Technologies (NYSE:A) traded down 0.19% on Wednesday, hitting $47.06. The stock had a trading volume of 392,286 shares. Agilent Technologies has a one year low of $34.15 and a one year high of $48.63. The firm’s 50 day moving average is $46.63 and its 200-day moving average is $44.65. The stock has a market capitalization of $15.27 billion, a PE ratio of 32.64 and a beta of 1.35.
Agilent Technologies (NYSE:A) last announced its quarterly earnings data on Wednesday, August 17th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Agilent Technologies had a return on equity of 14.97% and a net margin of 11.59%. The business earned $1.04 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts expect that Agilent Technologies will post $1.91 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Tuesday, October 4th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Friday, September 30th. This represents a $0.46 annualized dividend and a yield of 0.98%. Agilent Technologies’s payout ratio is presently 31.72%.
In other Agilent Technologies news, insider Patrick Kaltenbach sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $47.30, for a total transaction of $94,600.00. Following the transaction, the insider now owns 22,463 shares of the company’s stock, valued at $1,062,499.90. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director James Cullen sold 13,574 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $47.52, for a total value of $645,036.48. The disclosure for this sale can be found here.
A number of institutional investors have recently made changes to their positions in A. Robecosam AG increased its position in Agilent Technologies by 40.4% in the first quarter. Robecosam AG now owns 791,151 shares of the company’s stock valued at $31,741,000 after buying an additional 227,764 shares during the last quarter. Renaissance Technologies LLC increased its position in Agilent Technologies by 1,473.3% in the first quarter. Renaissance Technologies LLC now owns 755,200 shares of the company’s stock valued at $30,095,000 after buying an additional 707,200 shares during the last quarter. Legal & General Group Plc increased its position in Agilent Technologies by 0.7% in the first quarter. Legal & General Group Plc now owns 1,373,497 shares of the company’s stock valued at $54,735,000 after buying an additional 9,480 shares during the last quarter. Nuveen Asset Management LLC increased its position in Agilent Technologies by 76.4% in the first quarter. Nuveen Asset Management LLC now owns 97,273 shares of the company’s stock valued at $3,876,000 after buying an additional 42,143 shares during the last quarter. Finally, Artemis Investment Management LLP purchased a new position in Agilent Technologies during the second quarter valued at approximately $16,826,000.
About Agilent Technologies
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Agilent Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agilent Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.