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

Shares of Agilent Technologies, Inc. (NYSE:A) gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $139.99, but opened at $145.38. Agilent Technologies shares last traded at $142.50, with a volume of 378,410 shares traded.

The medical research company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.06. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. Agilent Technologies had a return on equity of 26.25% and a net margin of 18.84%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.43 EPS.

Wall Street Analyst Weigh In

A has been the subject of several research reports. UBS Group decreased their price target on shares of Agilent Technologies from $155.00 to $141.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Wolfe Research lowered Agilent Technologies from an “outperform” rating to a “peer perform” rating in a report on Thursday, June 27th. TD Cowen reissued a “buy” rating and issued a $153.00 price target on shares of Agilent Technologies in a report on Monday, July 29th. Evercore ISI upped their price objective on Agilent Technologies from $130.00 to $135.00 and gave the stock an “in-line” rating in a research note on Thursday. Finally, Bank of America increased their target price on Agilent Technologies from $140.00 to $147.00 and gave the stock a “neutral” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.07.

Insider Buying and Selling at Agilent Technologies

In related news, CEO Padraig Mcdonnell sold 1,958 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $140.00, for a total transaction of $274,120.00. Following the sale, the chief executive officer now owns 26,076 shares of the company’s stock, valued at $3,650,640. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Padraig Mcdonnell sold 1,958 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $140.00, for a total transaction of $274,120.00. Following the completion of the transaction, the chief executive officer now owns 26,076 shares of the company’s stock, valued at $3,650,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Dominique Grau sold 15,000 shares of Agilent Technologies stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $133.28, for a total value of $1,999,200.00. Following the transaction, the senior vice president now directly owns 49,486 shares in the company, valued at $6,595,494.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,916 shares of company stock valued at $2,527,860. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Agilent Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Livelsberger Financial Advisory acquired a new position in shares of Agilent Technologies in the 4th quarter valued at $26,000. Crewe Advisors LLC boosted its holdings in shares of Agilent Technologies by 114.8% in the second quarter. Crewe Advisors LLC now owns 189 shares of the medical research company’s stock worth $25,000 after buying an additional 101 shares during the period. VisionPoint Advisory Group LLC purchased a new position in shares of Agilent Technologies in the fourth quarter worth approximately $29,000. Ridgewood Investments LLC purchased a new position in shares of Agilent Technologies in the second quarter worth approximately $29,000. Finally, Rise Advisors LLC raised its holdings in shares of Agilent Technologies by 527.8% during the first quarter. Rise Advisors LLC now owns 226 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 190 shares during the period. 87.42% of the stock is owned by institutional investors and hedge funds.

Agilent Technologies Trading Up 1.4 %

The company’s 50-day moving average is $133.75 and its 200 day moving average is $138.48. The company has a current ratio of 2.15, a quick ratio of 1.64 and a debt-to-equity ratio of 0.34. The firm has a market cap of $41.42 billion, a PE ratio of 33.08, a P/E/G ratio of 4.86 and a beta of 1.05.

About Agilent Technologies

Agilent Technologies, Inc provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide. The company operates in 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; cell imaging systems; microplate reader; laboratory software; information management and analytics; laboratory automation and robotic systems; dissolution testing; and vacuum pumps, and measurement technologies.