Agilent Technologies (NYSE:A) Trading Up 6.1% Following Better-Than-Expected Earnings

Agilent Technologies Inc (NYSE:A)’s share price was up 6.1% on Thursday following a better than expected earnings announcement. The stock traded as high as $72.65 and last traded at $69.59, approximately 6,588,941 shares changed hands during trading. An increase of 183% from the average daily volume of 2,331,434 shares. The stock had previously closed at $65.59.

The medical research company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.72 by $0.04. Agilent Technologies had a return on equity of 19.71% and a net margin of 22.25%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period last year, the business posted $0.67 EPS. The company’s revenue was up 5.6% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Tuesday, July 2nd were paid a $0.164 dividend. The ex-dividend date was Monday, July 1st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.94%. Agilent Technologies’s dividend payout ratio (DPR) is currently 23.66%.

A number of equities research analysts have commented on A shares. Robert W. Baird reissued an “outperform” rating and set a $82.00 price target (up from $79.00) on shares of Agilent Technologies in a report on Thursday. ValuEngine lowered shares of Agilent Technologies from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Zacks Investment Research lowered shares of Agilent Technologies from a “hold” rating to a “sell” rating and set a $71.00 price objective on the stock. in a report on Tuesday, July 16th. Barclays lowered shares of Agilent Technologies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $86.00 to $78.00 in a report on Monday, July 15th. Finally, Piper Jaffray Companies boosted their price objective on shares of Agilent Technologies from $83.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $84.15.

A number of hedge funds have recently modified their holdings of A. Flagship Harbor Advisors LLC grew its position in Agilent Technologies by 139.0% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 349 shares of the medical research company’s stock worth $26,000 after purchasing an additional 203 shares during the last quarter. Capital Investment Advisory Services LLC purchased a new position in Agilent Technologies during the 2nd quarter worth $26,000. Liberty Wealth Management LLC purchased a new position in Agilent Technologies during the 2nd quarter worth $29,000. Destination Wealth Management grew its position in Agilent Technologies by 100.0% during the 1st quarter. Destination Wealth Management now owns 400 shares of the medical research company’s stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Finally, Coastal Capital Group Inc. purchased a new position in Agilent Technologies during the 2nd quarter worth $32,000.

The company has a debt-to-equity ratio of 0.35, a current ratio of 3.41 and a quick ratio of 2.82. The firm has a market capitalization of $21.05 billion, a P/E ratio of 24.94, a PEG ratio of 1.86 and a beta of 1.41. The stock has a 50-day simple moving average of $70.86.

About Agilent Technologies (NYSE:A)

Agilent Technologies, Inc provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide. It operates through three segments: Life Sciences and Applied Markets, Diagnostics and Genomics, and Agilent CrossLab. 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; laboratory software and information management and analytics; laboratory automation and robotic systems; dissolution testing; vacuum pumps; and measurement technologies.

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