Agilent Technologies, Inc. (A) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Agilent Technologies, Inc. (NYSE:A) from a buy rating to a hold rating in a report issued on Monday morning.

According to Zacks, “Agilent Technologies is a broad-based OEM of test and measurement equipment. The company’s fiscal third quarter results were above the Zacks Consensus estimate. Year to date, the stock has slightly underperformed the Industry it belongs to. The company’s decision to divest/wind up underperforming businesses has enhanced its focus on the new Agilent, while enabling expansion of a solid recurring revenue base and diversification of geographic and industrial operations for growth. Also, the company’s focus on aligning investments so as to be oriented toward more attractive growth avenues and innovative high-margin product launches are positives. Agilent’s broad-based portfolio and increased focus on segments offer higher growth potential. However, the macro weakness in the U.S. and Europe and forex headwinds remain concerns.”

Several other analysts also recently weighed in on A. BidaskClub downgraded shares of Agilent Technologies from a strong-buy rating to a buy rating in a research report on Saturday, August 12th. Janney Montgomery Scott lifted their price objective on shares of Agilent Technologies from $65.00 to $70.00 and gave the company a buy rating in a research report on Wednesday, August 16th. J P Morgan Chase & Co reiterated an overweight rating and issued a $70.00 price objective on shares of Agilent Technologies in a research report on Wednesday, August 16th. Goldman Sachs Group, Inc. (The) reiterated a neutral rating and issued a $68.00 price objective on shares of Agilent Technologies in a research report on Tuesday, September 26th. Finally, Bank of America Corporation raised their target price on shares of Agilent Technologies from $66.00 to $68.00 and gave the company an equal weight rating in a research note on Wednesday, August 16th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $65.78.

Agilent Technologies (NYSE:A) traded up 0.81% during trading on Monday, hitting $68.04. 1,124,866 shares of the company’s stock traded hands. Agilent Technologies has a 12-month low of $42.92 and a 12-month high of $68.52. The stock has a market cap of $21.90 billion, a P/E ratio of 35.09 and a beta of 1.30. The firm’s 50-day moving average price is $66.15 and its 200 day moving average price is $61.15.

Agilent Technologies (NYSE:A) last issued its quarterly earnings data on Tuesday, August 15th. The medical research company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.07. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. Agilent Technologies had a net margin of 14.36% and a return on equity of 16.95%. Agilent Technologies’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the firm posted $0.49 EPS. Analysts anticipate that Agilent Technologies will post $2.32 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Tuesday, October 3rd were paid a $0.132 dividend. The ex-dividend date of this dividend was Monday, October 2nd. This represents a $0.53 annualized dividend and a dividend yield of 0.78%. Agilent Technologies’s dividend payout ratio is currently 27.32%.

In other news, Director Boon Hwee Koh sold 4,500 shares of Agilent Technologies stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $63.63, for a total value of $286,335.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael R. Mcmullen sold 16,492 shares of Agilent Technologies stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $65.33, for a total transaction of $1,077,422.36. Following the completion of the transaction, the chief executive officer now directly owns 211,872 shares in the company, valued at $13,841,597.76. The disclosure for this sale can be found here. Insiders sold a total of 165,720 shares of company stock worth $10,488,739 in the last ninety days.

Several institutional investors have recently added to or reduced their stakes in A. Advisor Group Inc. boosted its holdings in shares of Agilent Technologies by 0.3% during the second quarter. Advisor Group Inc. now owns 3,959 shares of the medical research company’s stock worth $235,000 after purchasing an additional 10 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Agilent Technologies by 0.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,658 shares of the medical research company’s stock worth $276,000 after purchasing an additional 35 shares during the period. Veritable L.P. boosted its holdings in shares of Agilent Technologies by 0.4% during the second quarter. Veritable L.P. now owns 10,896 shares of the medical research company’s stock worth $646,000 after purchasing an additional 40 shares during the period. Park National Corp OH boosted its holdings in shares of Agilent Technologies by 1.1% during the second quarter. Park National Corp OH now owns 4,077 shares of the medical research company’s stock worth $242,000 after purchasing an additional 43 shares during the period. Finally, Trust Co. of Vermont boosted its holdings in shares of Agilent Technologies by 1.8% during the second quarter. Trust Co. of Vermont now owns 2,793 shares of the medical research company’s stock worth $166,000 after purchasing an additional 50 shares during the period.

About Agilent Technologies

Agilent Technologies, Inc provides application focused solutions that include instruments, software, services and consumables for the entire laboratory workflow. The Company serves the life sciences, diagnostics and applied chemical markets. It has three business segments: life sciences and applied markets business, diagnostics and genomics business, and Agilent CrossLab business.

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