Agilent Technologies (NYSE:A) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Agilent Technologies (NYSE:A) from a buy rating to a hold rating in a research note issued to investors on Monday, Zacks.com reports. The firm currently has $75.00 price target on the medical research company’s stock.

According to Zacks, “Agilent reported strong fiscal third-quarter results on broad-based growth in all its product lines. The company also raised its guidance for full year 2019. The company’s expanding product portfolio, end-market strength and robust performance in Americas, China and Europe are key growth drivers. Moreover, the company’s decision to divest/wind up underperforming businesses is beneficial for its core operations. Further, the company’s focus on aligning investments towards more attractive growth avenues and innovative high-margin product launches are positive. Notably, shares of Agilent have outperformed the industry it belongs to over a year. However, macro weakness in some regions, higher expenses and unfavorable foreign exchange remain concerns.”

A number of other equities analysts have also recently weighed in on the company. Bank of America cut Agilent Technologies from a buy rating to a neutral rating and set a $76.00 price target for the company. in a report on Tuesday, July 16th. Deutsche Bank lowered their price target on Agilent Technologies from $90.00 to $85.00 and set a buy rating for the company in a report on Wednesday, May 15th. Wolfe Research assumed coverage on Agilent Technologies in a report on Thursday, May 30th. They set a peer perform rating for the company. Piper Jaffray Companies increased their price target on Agilent Technologies from $83.00 to $86.00 and gave the stock an overweight rating in a report on Thursday, August 15th. Finally, ValuEngine cut Agilent Technologies from a buy rating to a hold rating in a report on Friday, July 12th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $84.77.

Shares of NYSE:A opened at $72.20 on Monday. The company has a quick ratio of 1.72, a current ratio of 2.13 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average of $70.44 and a two-hundred day moving average of $74.52. The stock has a market cap of $22.46 billion, a P/E ratio of 25.88, a PEG ratio of 1.96 and a beta of 1.41. Agilent Technologies has a 52-week low of $61.01 and a 52-week high of $82.27.

Agilent Technologies (NYSE:A) last issued its earnings results on Wednesday, August 14th. The medical research company reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.04. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Agilent Technologies had a return on equity of 20.00% and a net margin of 21.06%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.67 EPS. On average, equities analysts anticipate that Agilent Technologies will post 3.08 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in A. Flagship Harbor Advisors LLC grew its stake in shares of Agilent Technologies by 139.0% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 349 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 203 shares during the last quarter. Capital Investment Advisory Services LLC purchased a new position in shares of Agilent Technologies in the 2nd quarter valued at approximately $26,000. Liberty Wealth Management LLC purchased a new position in shares of Agilent Technologies in the 2nd quarter valued at approximately $29,000. WealthStone Inc. purchased a new position in shares of Agilent Technologies in the 2nd quarter valued at approximately $31,000. Finally, Destination Wealth Management grew its stake in shares of Agilent Technologies by 100.0% in the 1st quarter. Destination Wealth Management now owns 400 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 200 shares during the last quarter.

About Agilent Technologies

Agilent Technologies, Inc provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide. It operates through 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; laboratory software and information management and analytics; laboratory automation and robotic systems; dissolution testing; vacuum pumps; and measurement technologies.

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