California-based Agilent Technologies, Inc. (A) is an original equipment manufacturer of a broad-based portfolio of test and measurement products serving multiple end markets. Valued at a market cap of $40.8 billion, the company provides application-focused solutions primarily to the life sciences, diagnostics, and applied chemical markets and has now diversified into more end markets, namely industrial, chemical, and electronics.
Companies worth $10 billion or more are generally described as “large-cap” stocks and Agilent Technologies fits right into that category, with its market cap exceeding this threshold. The diagnostics and research company helps experts in 110 countries with cutting-edge life science research, patient diagnostics, and testing required to ensure the safety of water, food, and pharmaceuticals.
Despite its strengths, the company’s shares have slipped 9.1 from its 52-week high of $155.35 reached on May 17. Over the past three months, A has gained 1.8%, lagging behind the broader S&P 500 Index’s ($SPX) 9.5% gain.
Moreover, In the longer term, A has gained 9.5% over the past 52 weeks, significantly lagging behind SPX’s 31.6% returns. On a YTD basis, shares of A are up nearly 1.6%, massively underperforming SPX’s 27.6% gains over the same time frame.
To confirm its recent bullish trend, A has been trading above its 200-day moving average since early December and has remained above its 50-day moving average since late November.
On Nov. 25, Agilent’s shares increased marginally after reporting better-than-expected Q4 revenues of $1.7 billion and adjusted earnings of $1.46 per share. Its bottom line increased 5.8% annually while its revenue grew slightly from the year-ago figure, thanks to a 5% revenue growth in the company’s Agilent CrossLab Group, partially offset by a decline in Life Sciences and Applied Markets Group’s revenue.
A has surpassed its rival, Danaher Corporation’s (DHR) nearly 6.4% gain over the past 52 weeks but has lagged behind DHR’s almost 1.8% rise on a YTD basis.
Although A has recently underperformed the broader market, analysts remain moderately optimistic about its prospects. The stock has a consensus rating of “Moderate Buy” from the 16 analysts covering it, and the mean price target of $149.21 suggests a 5.7% premium to its current levels.
On the date of publication, Neharika Jain 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. More news from Barchart- 1 Dividend Stock to Snag for Robust Free Cash Flows
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