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

Agilent Technologies (NYSE:AGet Rating) issued its earnings results on Monday. The medical research company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.14, MarketWatch Earnings reports. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.76 billion. Agilent Technologies had a net margin of 19.94% and a return on equity of 28.46%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.21 earnings per share. 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

A stock opened at $156.86 on Wednesday. The company’s 50-day moving average price is $133.55 and its two-hundred day moving average price is $128.29. Agilent Technologies has a 12 month low of $112.52 and a 12 month high of $162.62. The company has a quick ratio of 1.41, a current ratio of 1.94 and a debt-to-equity ratio of 0.54. The firm has a market cap of $46.44 billion, a P/E ratio of 35.73, a P/E/G ratio of 2.67 and a beta of 1.06.

Agilent Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Tuesday, January 3rd will be given a dividend of $0.225 per share. This is a boost from Agilent Technologies’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, December 30th. This represents a $0.90 annualized dividend and a yield of 0.57%. Agilent Technologies’s dividend payout ratio is currently 19.13%.

Insider Transactions at Agilent Technologies

In other Agilent Technologies news, CEO Michael R. Mcmullen sold 6,775 shares of the firm’s stock in a transaction on Wednesday, October 19th. The stock was sold at an average price of $130.11, for a total value of $881,495.25. Following the sale, the chief executive officer now owns 191,358 shares of the company’s stock, valued at approximately $24,897,589.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Agilent Technologies news, CEO Michael R. Mcmullen sold 6,775 shares of the business’s stock in a transaction dated Wednesday, October 19th. The stock was 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 of the company’s stock, valued at $24,897,589.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael Tang sold 3,600 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $139.50, for a total transaction of $502,200.00. Following the completion of the sale, the senior vice president now owns 43,280 shares in the company, valued at $6,037,560. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,309 shares of company stock valued at $4,846,147.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of A. Zions Bancorporation N.A. raised its stake in shares of Agilent Technologies by 10.8% during the first quarter. Zions Bancorporation N.A. now owns 2,880 shares of the medical research company’s stock valued at $381,000 after acquiring an additional 281 shares during the last quarter. Horizon Investments LLC raised its position in Agilent Technologies by 12.6% during the 1st quarter. Horizon Investments LLC now owns 2,696 shares of the medical research company’s stock worth $356,000 after purchasing an additional 302 shares during the last quarter. Fund Management at Engine No. 1 LLC bought a new stake in shares of Agilent Technologies in the 1st quarter valued at about $336,000. Mather Group LLC. increased its stake in shares of Agilent Technologies by 13.5% in the first quarter. Mather Group LLC. now owns 2,487 shares of the medical research company’s stock valued at $329,000 after buying an additional 296 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in shares of 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 valued at $309,000 after buying an additional 799 shares during the period.

Analysts Set New Price Targets

A has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Agilent Technologies from $135.00 to $150.00 in a research note on Tuesday. Evercore ISI upped their price objective on Agilent Technologies from $140.00 to $155.00 in a research note on Tuesday. Jefferies Financial Group raised their price objective on Agilent Technologies from $158.00 to $168.00 in a research report on Tuesday. Bank of America boosted their target price on Agilent Technologies from $148.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Finally, Cowen raised their price target on Agilent Technologies from $160.00 to $168.00 in a report on Tuesday. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $157.00.

About Agilent Technologies

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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.

Further Reading

Earnings History for Agilent Technologies (NYSE:A)

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