Agilent Technologies (A) Shares Down 11% on Disappointing Earnings
Agilent Technologies Inc (NYSE:A) fell 11% on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $66.24 and last traded at $67.64. 14,474,331 shares traded hands during trading, an increase of 613% from the average session volume of 2,031,359 shares. The stock had previously closed at $76.01.
The medical research company reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.01). The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Agilent Technologies had a return on equity of 19.90% and a net margin of 22.86%. Agilent Technologies’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 earnings per share.
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Tuesday, April 2nd were paid a $0.164 dividend. The ex-dividend date of this dividend was Monday, April 1st. This represents a $0.66 annualized dividend and a yield of 0.97%. Agilent Technologies’s payout ratio is 23.66%.
In other news, VP Mark Doak sold 16,421 shares of the firm’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $77.95, for a total value of $1,280,016.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael Tang sold 6,728 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $80.50, for a total value of $541,604.00. The disclosure for this sale can be found here. In the last three months, insiders sold 57,329 shares of company stock worth $4,535,225.
Large investors have recently added to or reduced their stakes in the stock. Destination Wealth Management grew its holdings in Agilent Technologies by 100.0% during the 1st quarter. Destination Wealth Management now owns 400 shares of the medical research company’s stock valued at $32,000 after buying an additional 200 shares in the last quarter. Captrust Financial Advisors grew its holdings in Agilent Technologies by 2,121.1% during the 4th quarter. Captrust Financial Advisors now owns 422 shares of the medical research company’s stock valued at $29,000 after buying an additional 403 shares in the last quarter. Lake Point Wealth Management purchased a new position in Agilent Technologies during the 4th quarter valued at approximately $30,000. Cresset Asset Management LLC purchased a new position in Agilent Technologies during the 1st quarter valued at approximately $37,000. Finally, JOYN Advisors Inc. boosted its holdings in shares of Agilent Technologies by 186.6% in the 4th quarter. JOYN Advisors Inc. now owns 470 shares of the medical research company’s stock worth $32,000 after purchasing an additional 306 shares during the period.
The firm has a market capitalization of $23.45 billion, a P/E ratio of 24.24, a P/E/G ratio of 2.05 and a beta of 1.33. The company has a quick ratio of 2.79, a current ratio of 3.39 and a debt-to-equity ratio of 0.36.
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Agilent Technologies Company Profile (NYSE:A)
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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