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California-based Agilent Technologies, Inc. (A) is an original equipment manufacturer of a broad-based portfolio of test and measurement products. With a market cap of $40.8 billion, the company operates in three segments: Life Sciences and Applied Markets; Diagnostics and Genomics; and Agilent CrossLab.
Shares of Agilent Technologies have underperformed the broader market over the past 52 weeks. A has gained 23.3% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 27.8%. In 2024, shares of A have increased 4.3%, while SPX has gained 17.8% on a YTD basis.
However, zooming in further, A has outpaced the GX Telemedicine & Digital Health ETF’s (EDOC) 9.4% drop over the past 52 weeks and a 9.1% decline on a YTD basis.
Agilent Technologies released its Q3 earnings report on Aug. 21, which surpassed Wall Street’s top and bottom-line estimates. This is attributed to the strong demand for its medical tools and equipment used in clinical studies. The company also raised its full-year forecasts, reflecting optimism in an improving public funding environment for biotech clients.
For the current fiscal year, ending in October, analysts expect A’s EPS to decline 4.6% year over year to $5.19. The company’s earnings surprise history is promising. It beat the consensus estimates in each of the last four quarters.
Among the 15 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on seven “Strong Buy” ratings, seven “Holds,” and one “Strong Sell.”
The configuration is slightly less bullish than three months ago, with eight analysts suggesting a “Strong Buy.”
On Jul. 10, Citigroup analyst Patrick Donnelly upgraded Agilent Technology’s rating to “Buy” and raised the price target to $150.
As of writing, Agilent is trading slightly below the mean price target of $140.07. The street-high price target of $155, implies a potential upside of 10.7% from the current price.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
