Agilent Technologies, Inc. (NYSE:A – Get Rating) – Equities researchers at Zacks Research reduced their Q2 2023 earnings per share (EPS) estimates for shares of Agilent Technologies in a note issued to investors on Tuesday, March 14th. Zacks Research analyst S. Mete now forecasts that the medical research company will post earnings of $1.26 per share for the quarter, down from their previous estimate of $1.29. The consensus estimate for Agilent Technologies’ current full-year earnings is $5.68 per share. Zacks Research also issued estimates for Agilent Technologies’ Q3 2023 earnings at $1.42 EPS, FY2023 earnings at $5.65 EPS, Q1 2024 earnings at $1.49 EPS, Q2 2024 earnings at $1.46 EPS, Q3 2024 earnings at $1.49 EPS, Q4 2024 earnings at $1.73 EPS, FY2024 earnings at $6.16 EPS and FY2025 earnings at $6.81 EPS.
Other equities research analysts also recently issued research reports about the company. Cowen upped their price target on Agilent Technologies from $160.00 to $168.00 in a report on Tuesday, November 22nd. Evercore ISI increased their price objective on Agilent Technologies from $140.00 to $155.00 in a report on Tuesday, November 22nd. Wells Fargo & Company raised Agilent Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $150.00 to $170.00 in a research report on Tuesday, January 10th. Robert W. Baird increased their price objective on Agilent Technologies from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 1st. Finally, SVB Leerink increased their price objective on Agilent Technologies from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, January 6th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.31.
Agilent Technologies Price Performance
Agilent Technologies (NYSE:A – Get Rating) last issued its quarterly earnings results on Tuesday, February 28th. The medical research company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.06. Agilent Technologies had a return on equity of 30.35% and a net margin of 19.09%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the business earned $1.21 EPS. Agilent Technologies’s revenue was up 4.9% on a year-over-year basis.
Hedge Funds Weigh In On Agilent Technologies
Several hedge funds have recently bought and sold shares of A. Money Concepts Capital Corp purchased a new position in Agilent Technologies during the fourth quarter worth $26,000. Delta Asset Management LLC TN purchased a new position in Agilent Technologies during the fourth quarter worth $26,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in Agilent Technologies during the fourth quarter worth $27,000. Newbridge Financial Services Group Inc. increased its position in Agilent Technologies by 217.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 216 shares of the medical research company’s stock worth $32,000 after buying an additional 148 shares in the last quarter. Finally, Accurate Wealth Management LLC purchased a new position in Agilent Technologies during the fourth quarter worth $35,000.
Agilent Technologies declared that its board has authorized a stock repurchase program on Monday, January 9th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire up to 4.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Agilent Technologies Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 26th. Investors of record on Tuesday, April 4th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Monday, April 3rd. Agilent Technologies’s payout ratio is currently 20.32%.
Agilent Technologies Company Profile
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.
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