Partner Investment Management L.P. boosted its holdings in Agilent Technologies Inc (NYSE:A) by 9.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,367 shares of the medical research company’s stock after buying an additional 2,029 shares during the period. Agilent Technologies makes up about 1.3% of Partner Investment Management L.P.’s investment portfolio, making the stock its 24th biggest position. Partner Investment Management L.P.’s holdings in Agilent Technologies were worth $1,719,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Osterweis Capital Management Inc. raised its holdings in Agilent Technologies by 37.0% in the third quarter. Osterweis Capital Management Inc. now owns 265,527 shares of the medical research company’s stock worth $18,730,000 after purchasing an additional 71,702 shares during the period. Cpwm LLC acquired a new stake in Agilent Technologies in the third quarter worth $694,000. OppenheimerFunds Inc. raised its holdings in Agilent Technologies by 12.5% in the third quarter. OppenheimerFunds Inc. now owns 8,590,725 shares of the medical research company’s stock worth $605,989,000 after purchasing an additional 954,104 shares during the period. People s United Financial Inc. acquired a new stake in Agilent Technologies in the third quarter worth $356,000. Finally, Tekla Capital Management LLC acquired a new stake in Agilent Technologies in the third quarter worth $4,007,000.
Agilent Technologies stock opened at $72.91 on Wednesday. The firm has a market capitalization of $23.06 billion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 2.09 and a beta of 1.36. Agilent Technologies Inc has a 1-year low of $60.42 and a 1-year high of $75.11. 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 released its earnings results on Monday, November 19th. The medical research company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.26 billion. Agilent Technologies had a net margin of 6.43% and a return on equity of 19.84%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 earnings per share. On average, research analysts anticipate that Agilent Technologies Inc will post 3.04 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 23rd. Stockholders of record on Monday, December 31st will be given a $0.164 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Friday, December 28th. This is an increase from Agilent Technologies’s previous quarterly dividend of $0.15. Agilent Technologies’s dividend payout ratio (DPR) is 21.51%.
Agilent Technologies declared that its Board of Directors has approved a share repurchase plan on Monday, November 19th that permits the company to repurchase $1.75 billion in shares. This repurchase authorization permits the medical research company to buy up to 8.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Several equities research analysts have recently issued reports on A shares. Goldman Sachs Group raised shares of Agilent Technologies from a “buy” rating to a “conviction-buy” rating in a research report on Monday, September 17th. ValuEngine downgraded shares of Agilent Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. Morgan Stanley increased their price objective on shares of Agilent Technologies from $86.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 20th. Cleveland Research downgraded shares of Agilent Technologies from a “buy” rating to a “neutral” rating in a research report on Monday, November 12th. Finally, Deutsche Bank raised their target price on shares of Agilent Technologies from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, August 15th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $78.75.
In other news, CEO Michael R. Mcmullen sold 15,923 shares of Agilent Technologies stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $73.20, for a total value of $1,165,563.60. Following the completion of the transaction, the chief executive officer now owns 492,546 shares of the company’s stock, valued at approximately $36,054,367.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dominique Grau sold 8,902 shares of Agilent Technologies stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $74.00, for a total transaction of $658,748.00. Following the completion of the transaction, the insider now directly owns 103,387 shares of the company’s stock, valued at approximately $7,650,638. The disclosure for this sale can be found here. In the last three months, insiders sold 34,683 shares of company stock valued at $2,499,491.
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Agilent Technologies 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.
Further Reading: Yield Curve
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