Free Trial

Agilent Technologies Stock: Ready to Rise off the Floor

KONSKIE, POLAND - September 04, 2022: Smartphone displaying logo of Agilent Technologies company on stock exchange diagram background

Key Points

  • Agilent Technologies is a leading laboratory technology and life sciences company.
  • Its fiscal Q2 2023 earnings report had revenues climb 6.8% to $1.72 billion with a GAAP net income of $302 million.
  • The company provides laboratory equipment, machines and services to the healthcare, biotechnology, forensics, food and beverage and environmental industries.
  • MarketBeat previews the top five stocks to own by May 1st.

Agilent Technologies Inc. NYSE: A stock is underperforming the market, trading down 19% year-to-date. Agilent is a leading global provider of laboratory technologies and equipment.

It counts some of the most well-known biotechnology, healthcare, diagnostic and applied materials companies in the world as clients, including Abbott Laboratories NYSE: ABT, Thermo Fisher Scientific Inc. NYSE: TMO and Roche Holding AG OTCMKTS: RHHBY. While shares were punished for their lowered guidance, the company is still very profitable. The company has stated that has seen longer sales cycles, especially with startup biotechs tightening their wallets in the uncertain macroeconomic climate.

Core Growth

On May 23, Agilent released its fiscal second-quarter 2023 results for the quarter ending April 2023. The company reported a non-GAAP earnings-per-share (EPS) profit of $1.27 versus consensus analyst estimates of $1.26, beating estimates by one cent. GAAP net income was $302 million, up from $274 million in the year-ago period. Revenues rose 6.8% year-over-year (YoY) to $1.72 billion, beating analyst estimates of $1.67 billion. Revenues were up 9.5% core with growth across all end markets and regions.

Revenues by Segment

Agilent has several divisions focused on each respective product and service. Its life sciences and applied markets group (LSAG) grew 8% year-over-year (YoY) revenue to $968 million. The operating margin was 27.3%. This division provides instruments and services to enable researchers and scientists to perform life science applications like DNA sequencing, metabolomics and protein analysis. It also provides products for applied markets like food safety, forensics and environmental testing.

Its Agilent cross-lab group (ACG) segment saw 10% YoY revenue growth with 26.6% operating margins. This division provides equipment, instruments, software and services to laboratories in various industries, including healthcare, pharmaceuticals, food and beverage, environmental and forensics.

Its diagnostics and genome group (DGG) had a 1% YoY revenue increase to $362 million and a 20.2% operating margin. This division provides products and services for clients to perform clinical diagnostics and genomic research.

Cutting Down Guidance

Agilent issues downside guidance for fiscal quarter three 2023 EPS between $1.36 to $1.38 versus $1.44 consensus analyst estimates. Revenues are expected between $1.64 billion to $1.77 billion versus $1.77 billion. Fiscal full-year 2023 EPS is expected between $5.60 to $5.65 versus $5.69 consensus analyst estimates on revenues between $6.93 billion to $7.03 billion versus $7.09 billion consensus analyst estimates.

Analysts Piling into the Clown Car

At least 10 analysts reiterated their existing ratings and lowered price targets. Key Banc lowered its analyst rating to "sector weight" from "overweight."

Key Banc’s analyst Paul Knight commented that the company's emerging biotech (3% of historical revenue) was at zero level of activity while large biopharma (33% of revenue) was more conservative on spending. Agilent cited no slowdown in its bioprocess business and more normalized China growth. He explained that a recovery needed in margins and a lack of revenue catalysts in the back half the analyst downgraded Agilent to "sector weight."

You can find Agilent Technologies analyst ratings and price targets on MarketBeat.

Agilent Technologies on MarketBeat triangle lows

Weekly Descending Triangle

The weekly candlestick chart illustrates a weekly triangle with a clear descending trendline and flat-bottom trendline at $113.28. The triangle commenced after peaking at $159.33 in January and selling off, making lower highs on the descending trendline. A fell to a low of $113.28 in May. Shares continued to fall, forming consecutive lower-body lows.

A weekly market structure low (MSL) trigger forms on a breakout through $122.22. The weekly RSI is bouncing off the oversold 30-band indicating the weekly reversal in momentum back to the upside. The weekly 20-period exponential moving average (EMA) resistance falls at $131.64, followed by the weekly 50-period MA at $136.75. Pullback support levels are at $117.51, $115.51, $113.28 triangle low and $110.65.

Should You Invest $1,000 in Agilent Technologies Right Now?

Before you consider Agilent Technologies, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Agilent Technologies wasn't on the list.

While Agilent Technologies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Free Today: Your Guide to Smarter Options Trades Cover

Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.

Get This Free Report
Jea Yu
About The Author

Jea Yu

Contributing Author

Trading Strategies

Like this article? Share it with a colleague.

Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Agilent Technologies (A)
4.717 of 5 stars
$106.99+0.7%0.93%24.60Hold$143.00
Abbott Laboratories (ABT)
4.9738 of 5 stars
$129.52+0.5%1.82%16.93Moderate Buy$142.59
RH (RH)
4.4091 of 5 stars
$183.52-1.1%N/A52.74Hold$278.44
Roche (RHHBY)N/A$40.51+2.5%2.10%N/AHoldN/A
Roche (RHHVF)
0.0906 of 5 stars
$322.12+1.3%2.42%29.80N/AN/A
Thermo Fisher Scientific (TMO)
4.8174 of 5 stars
$421.55-0.6%0.41%25.50Moderate Buy$616.95
Compare These Stocks  Add These Stocks to My Watchlist 

Featured Articles and Offers

Related Videos

 5 Stocks to BUY NOW in April 2025
7 Flying Car Stocks to Buy Before the Sector Really Takes Off
Archer Aviation: Sinking Now, Soaring Soon?

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines