Agilent Technologies (NYSE:A) Posts Earnings Results, Beats Expectations By $0.01 EPS

Agilent Technologies (NYSE:A – Get Rating) announced its quarterly earnings results on Tuesday. The medical research company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.01, Briefing.com reports. Agilent Technologies had a net margin of 19.19% and a return on equity of 30.74%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the business posted $1.13 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. 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

Shares of NYSE A opened at $120.99 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.11 and a quick ratio of 1.53. The stock has a fifty day moving average price of $133.87 and a 200 day moving average price of $144.11. Agilent Technologies has a 1-year low of $112.52 and a 1-year high of $160.26. The company has a market cap of $35.78 billion, a PE ratio of 26.65, a P/E/G ratio of 1.89 and a beta of 1.03.

Agilent Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Monday, July 3rd will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, June 30th. Agilent Technologies’s dividend payout ratio is presently 19.82%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of A. Ancora Advisors LLC increased its position in shares of Agilent Technologies by 41.1% in the first quarter. Ancora Advisors LLC now owns 326 shares of the medical research company’s stock valued at $45,000 after buying an additional 95 shares in the last quarter. Fred Alger Management LLC boosted its stake in Agilent Technologies by 2.9% in the 3rd quarter. Fred Alger Management LLC now owns 4,757 shares of the medical research company’s stock worth $578,000 after buying an additional 136 shares during the last quarter. Fiduciary Trust Co. lifted its stake in shares of Agilent Technologies by 2.4% in the 1st quarter. Fiduciary Trust Co. now owns 5,994 shares of the medical research company’s stock valued at $829,000 after purchasing an additional 138 shares in the last quarter. Synovus Financial Corp lifted its stake in shares of Agilent Technologies by 2.3% in the 1st quarter. Synovus Financial Corp now owns 6,751 shares of the medical research company’s stock valued at $895,000 after purchasing an additional 153 shares in the last quarter. Finally, Money Concepts Capital Corp acquired a new position in shares of Agilent Technologies in the 4th quarter valued at about $26,000.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Agilent Technologies in a research report on Thursday, May 18th. They set a “buy” rating for the company. Bank of America dropped their target price on shares of Agilent Technologies from $164.00 to $144.00 and set a “buy” 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 for the company in a research report on Wednesday. Evercore ISI reduced their target price on shares of Agilent Technologies from $150.00 to $126.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Citigroup reduced their price target on shares of Agilent Technologies from $150.00 to $130.00 and set a “neutral” 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 assigned a buy rating to the stock. According to data from MarketBeat, Agilent Technologies has a consensus rating of “Moderate Buy” and an average price target of $151.35.

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.