Agilent Technologies, Inc. (NYSE:A) to Post Q2 2023 Earnings of $1.30 Per Share, SVB Leerink Forecasts

Agilent Technologies, Inc. (NYSE:AGet Rating) – Equities researchers at SVB Leerink boosted their Q2 2023 earnings estimates for shares of Agilent Technologies in a research report issued on Monday, November 21st. SVB Leerink analyst P. Souda now expects that the medical research company will earn $1.30 per share for the quarter, up from their prior estimate of $1.26. SVB Leerink has a “Outperform” rating and a $160.00 price target on the stock. The consensus estimate for Agilent Technologies’ current full-year earnings is $5.64 per share. SVB Leerink also issued estimates for Agilent Technologies’ Q4 2023 earnings at $1.62 EPS, FY2023 earnings at $5.63 EPS and FY2024 earnings at $6.09 EPS.

Agilent Technologies (NYSE:AGet Rating) last posted its quarterly earnings data on Monday, November 21st. The medical research company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.14. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.76 billion. Agilent Technologies had a net margin of 18.31% and a return on equity of 30.31%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 earnings per share.

Other analysts also recently issued research reports about the stock. Evercore ISI raised their price target on shares of Agilent Technologies from $140.00 to $155.00 in a research report on Tuesday. Bank of America boosted their target price on shares of Agilent Technologies from $148.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Jefferies Financial Group increased their price target on shares of Agilent Technologies from $158.00 to $168.00 in a research report on Tuesday. Robert W. Baird boosted their price objective on Agilent Technologies from $160.00 to $170.00 in a report on Tuesday. Finally, Cowen increased their target price 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.00.

Agilent Technologies Trading Down 1.0 %

Shares of A opened at $155.35 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.41 and a current ratio of 2.03. Agilent Technologies has a one year low of $112.52 and a one year high of $162.62. The stock has a 50-day moving average price of $133.99 and a 200 day moving average price of $128.48. The company has a market capitalization of $45.99 billion, a P/E ratio of 37.25, a P/E/G ratio of 2.78 and a beta of 1.06.

Agilent Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Tuesday, January 3rd will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Friday, December 30th. This is a positive change from Agilent Technologies’s previous quarterly dividend of $0.21. Agilent Technologies’s dividend payout ratio is currently 20.14%.

Insider Buying and Selling at Agilent Technologies

In other Agilent Technologies news, CEO Michael R. Mcmullen sold 128,726 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $155.73, for a total value of $20,046,499.98. Following the completion of the sale, the chief executive officer now directly owns 260,691 shares in the company, valued at $40,597,409.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Agilent Technologies news, CEO Michael R. Mcmullen sold 128,726 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $155.73, for a total value of $20,046,499.98. Following the completion of the sale, the chief executive officer now directly owns 260,691 shares of the company’s stock, valued at approximately $40,597,409.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Padraig Mcdonnell sold 2,103 shares of Agilent Technologies stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $122.89, for a total value of $258,437.67. Following the completion of the transaction, the vice president now owns 13,217 shares in the company, valued at $1,624,237.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 174,326 shares of company stock valued at $26,474,537.

Institutional Trading of Agilent Technologies

Large investors have recently added to or reduced their stakes in the company. BlueSpruce Investments LP acquired a new position in shares of Agilent Technologies during the third quarter valued at about $223,829,000. Massachusetts Financial Services Co. MA grew its holdings in Agilent Technologies by 42.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,851,153 shares of the medical research company’s stock worth $694,942,000 after acquiring an additional 1,736,168 shares during the last quarter. Wellington Management Group LLP increased its position in Agilent Technologies by 18.5% in the 1st quarter. Wellington Management Group LLP now owns 10,826,141 shares of the medical research company’s stock valued at $1,432,622,000 after acquiring an additional 1,691,006 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Agilent Technologies by 62.4% in the second quarter. Principal Financial Group Inc. now owns 3,115,931 shares of the medical research company’s stock worth $370,078,000 after acquiring an additional 1,197,836 shares during the last quarter. Finally, Liontrust Investment Partners LLP acquired a new stake in shares of Agilent Technologies in the third quarter valued at approximately $127,895,000.

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.

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