Partner Fund Management L.P. increased its stake in Agilent Technologies Inc (NYSE:A) by 12.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,247,899 shares of the medical research company’s stock after acquiring an additional 134,830 shares during the quarter. Agilent Technologies makes up 1.3% of Partner Fund Management L.P.’s holdings, making the stock its 27th largest holding. Partner Fund Management L.P. owned about 0.39% of Agilent Technologies worth $88,027,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. SRS Capital Advisors Inc. boosted its position in Agilent Technologies by 75.9% during the second quarter. SRS Capital Advisors Inc. now owns 1,791 shares of the medical research company’s stock valued at $110,000 after purchasing an additional 773 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in Agilent Technologies by 391.7% during the second quarter. Moneta Group Investment Advisors LLC now owns 6,023 shares of the medical research company’s stock valued at $158,000 after purchasing an additional 4,798 shares during the last quarter. TRUE Private Wealth Advisors acquired a new stake in Agilent Technologies during the third quarter valued at $181,000. AMG National Trust Bank acquired a new stake in Agilent Technologies during the third quarter valued at $212,000. Finally, UMB Bank N A MO acquired a new stake in Agilent Technologies during the third quarter valued at $219,000.
In other news, VP Rodney Gonsalves sold 1,500 shares of Agilent Technologies stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $71.06, for a total value of $106,590.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dominique Grau sold 8,902 shares of Agilent Technologies stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $74.00, for a total value of $658,748.00. Following the completion of the transaction, the insider now owns 103,387 shares in the company, valued at $7,650,638. The disclosure for this sale can be found here. Insiders sold 34,683 shares of company stock worth $2,499,491 over the last quarter.
Shares of NYSE:A opened at $72.91 on Wednesday. Agilent Technologies Inc has a fifty-two week low of $60.42 and a fifty-two week high of $75.11. The stock has a market capitalization of $23.06 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 2.09 and a beta of 1.36. The company has a quick ratio of 2.74, a current ratio of 3.29 and a debt-to-equity ratio of 0.39.
Agilent Technologies (NYSE:A) last announced its quarterly earnings results on Monday, November 19th. The medical research company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Agilent Technologies had a return on equity of 19.84% and a net margin of 6.43%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 earnings per share. As a group, analysts predict that Agilent Technologies Inc will post 3.04 EPS for the current fiscal year.
Agilent Technologies declared that its Board of Directors has initiated a stock repurchase plan on Monday, November 19th that permits the company to buyback $1.75 billion in outstanding shares. This buyback authorization permits the medical research company to repurchase up to 8.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 23rd. Stockholders of record on Monday, December 31st will be paid a $0.164 dividend. The ex-dividend date is Friday, December 28th. This is a positive change from Agilent Technologies’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.90%. Agilent Technologies’s payout ratio is presently 21.51%.
A has been the subject of a number of research reports. Zacks Investment Research raised Agilent Technologies from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research report on Tuesday, August 7th. Morgan Stanley lifted their price objective on Agilent Technologies from $83.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, August 15th. Deutsche Bank lifted their price objective on Agilent Technologies from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, August 15th. ValuEngine cut Agilent Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 18th. Finally, Goldman Sachs Group raised Agilent Technologies from a “buy” rating to a “conviction-buy” rating in a research report on Monday, September 17th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $78.75.
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Agilent Technologies Company Profile
Agilent Technologies, Inc provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide. It operates in 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; microfluidics based automated electrophoresis products; cell analysis plate based assays; laboratory software and informatics systems; laboratory automation; dissolution testing; vacuum pumps; and measurement technologies.
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