Agilent Technologies (NYSE:A) Shares Gap Up Following Better-Than-Expected Earnings

Shares of Agilent Technologies, Inc. (NYSE:AGet Rating) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $145.14, but opened at $151.00. Agilent Technologies shares last traded at $155.96, with a volume of 25,071 shares trading hands.

The medical research company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.39 by $0.14. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Agilent Technologies had a net margin of 19.94% and a return on equity of 28.46%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 EPS.

Agilent Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Tuesday, January 3rd will be issued a $0.225 dividend. The ex-dividend date of this dividend is Friday, December 30th. This is an increase from Agilent Technologies’s previous quarterly dividend of $0.21. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.57%. Agilent Technologies’s payout ratio is 19.13%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on A shares. Wells Fargo & Company upped their price target on shares of Agilent Technologies from $135.00 to $150.00 in a report on Tuesday. Cowen upped their price target on shares of Agilent Technologies from $160.00 to $168.00 in a report on Tuesday. Bank of America upped their price target on shares of Agilent Technologies from $148.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Jefferies Financial Group upped their price target on shares of Agilent Technologies from $158.00 to $168.00 in a report on Tuesday. Finally, Evercore ISI upped their price target on shares of Agilent Technologies from $140.00 to $155.00 in a report on Tuesday. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

Insider Activity at Agilent Technologies

In related news, CEO Michael R. Mcmullen sold 6,775 shares of the stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $148.19, for a total transaction of $1,003,987.25. Following the completion of the sale, the chief executive officer now owns 270,896 shares of the company’s stock, valued at $40,144,078.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Agilent Technologies news, CEO Michael R. Mcmullen sold 6,775 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $148.19, for a total transaction of $1,003,987.25. Following the transaction, the chief executive officer now owns 270,896 shares in the company, valued at approximately $40,144,078.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael Tang sold 3,600 shares of the company’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 transaction, the senior vice president now owns 43,280 shares in the company, valued at approximately $6,037,560. The disclosure for this sale can be found here. Insiders sold 35,309 shares of company stock valued at $4,846,147 over the last 90 days.

Institutional Trading of Agilent Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in A. Bromfield Sneider Wealth Advisors acquired a new stake in shares of Agilent Technologies in the second quarter worth $31,000. EverSource Wealth Advisors LLC grew its position in Agilent Technologies by 34.8% during the third quarter. EverSource Wealth Advisors LLC now owns 298 shares of the medical research company’s stock valued at $37,000 after buying an additional 77 shares during the period. Edge Capital Group LLC grew its position in Agilent Technologies by 53.0% during the third quarter. Edge Capital Group LLC now owns 303 shares of the medical research company’s stock valued at $37,000 after buying an additional 105 shares during the period. Guardian Wealth Advisors LLC acquired a new stake in Agilent Technologies during the third quarter valued at $42,000. Finally, J.W. Cole Advisors Inc. grew its position in Agilent Technologies by 7,201.6% during the first quarter. J.W. Cole Advisors Inc. now owns 124,493 shares of the medical research company’s stock valued at $45,000 after buying an additional 122,788 shares during the period.

Agilent Technologies Trading Up 8.1 %

The company has a market cap of $46.44 billion, a price-to-earnings ratio of 35.73, a price-to-earnings-growth ratio of 2.67 and a beta of 1.06. 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 company’s 50-day moving average is $133.55 and its 200 day moving average is $128.29.

Agilent Technologies Company Profile

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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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