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2023-12-16 23:00:00+00:00
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A
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Interesting A Put And Call Options For August 2024
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Investors in Agilent Technologies, Inc. (Symbol: A) saw new options begin trading this week, for the August 2024 expiration. One of the key inputs that goes into the price an option buyer is willing to pay, is the time value, so with 241 days until expiration the newly trading contracts represent a possible opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the A options chain for the new August 2024 contracts and identified one put and one call contract of particular interest.
The put contract at the $125.00 strike price has a current bid of $4.50. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $125.00, but will also collect the premium, putting the cost basis of the shares at $120.50 (before broker commissions). To an investor already interested in purchasing shares of A, that could represent an attractive alternative to paying $138.99/share today.
Because the $125.00 strike represents an approximate 10% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 77%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 3.60% return on the cash commitment, or 5.45% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Agilent Technologies, Inc., and highlighting in green where the $125.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $150.00 strike price has a current bid of $8.10. If an investor was to purchase shares of A stock at the current price level of $138.99/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $150.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 13.75% if the stock gets called away at the August 2024 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if A shares really soar, which is why looking at the trailing twelve month trading history for Agilent Technologies, Inc., as well as studying the business fundamentals becomes important. Below is a chart showing A's trailing twelve month trading history, with the $150.00 strike highlighted in red:
Considering the fact that the $150.00 strike represents an approximate 8% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 53%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 5.83% boost of extra return to the investor, or 8.83% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example is 32%, while the implied volatility in the call contract example is 29%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $138.99) to be 27%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of Stocks Analysts Like »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-12-12 00:00:00+00:00
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A
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Wolfe Research Initiates Coverage of Agilent Technologies (A) with Outperform Recommendation
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Fintel reports that on December 13, 2023, Wolfe Research initiated coverage of Agilent Technologies (NYSE:A) with a Outperform recommendation.
Analyst Price Forecast Suggests 1.04% Downside
As of November 27, 2023, the average one-year price target for Agilent Technologies is 132.34. The forecasts range from a low of 101.00 to a high of $157.50. The average price target represents a decrease of 1.04% from its latest reported closing price of 133.74.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Agilent Technologies is 7,130MM, an increase of 4.35%. The projected annual non-GAAP EPS is 5.77.
Agilent Technologies Declares $0.24 Dividend
On November 15, 2023 the company declared a regular quarterly dividend of $0.24 per share ($0.94 annualized). Shareholders of record as of January 2, 2024 will receive the payment on January 24, 2024. Previously, the company paid $0.22 per share.
At the current share price of $133.74 / share, the stock's dividend yield is 0.71%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.72%, the lowest has been 0.44%, and the highest has been 1.14%. The standard deviation of yields is 0.14 (n=235).
The current dividend yield is 0.12 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.22. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.22%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1945 funds or institutions reporting positions in Agilent Technologies. This is an increase of 30 owner(s) or 1.57% in the last quarter. Average portfolio weight of all funds dedicated to A is 0.31%, a decrease of 2.75%. Total shares owned by institutions increased in the last three months by 1.25% to 300,740K shares.
The put/call ratio of A is 1.01, indicating a bearish outlook.
What are Other Shareholders Doing?
Massachusetts Financial Services holds 11,076K shares representing 3.79% ownership of the company. In it's prior filing, the firm reported owning 11,037K shares, representing an increase of 0.35%. The firm increased its portfolio allocation in A by 546.51% over the last quarter.
Wellington Management Group Llp holds 10,256K shares representing 3.51% ownership of the company. In it's prior filing, the firm reported owning 8,736K shares, representing an increase of 14.81%. The firm increased its portfolio allocation in A by 15.48% over the last quarter.
T. Rowe Price Investment Management holds 10,122K shares representing 3.47% ownership of the company. In it's prior filing, the firm reported owning 9,968K shares, representing an increase of 1.53%. The firm decreased its portfolio allocation in A by 2.00% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 9,113K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 9,177K shares, representing a decrease of 0.70%. The firm decreased its portfolio allocation in A by 4.15% over the last quarter.
Price T Rowe Associates holds 7,386K shares representing 2.53% ownership of the company. In it's prior filing, the firm reported owning 8,054K shares, representing a decrease of 9.05%. The firm decreased its portfolio allocation in A by 10.32% over the last quarter.
Agilent Technologies Background Information
(This description is provided by the company.)
Agilent Technologies Inc. is a global leader in life sciences, diagnostics, and applied chemical markets, delivering insight and innovation toward improving the quality of life. Agilent instruments, software, services, solutions, and people provide trusted answers to customers' most challenging questions. The company generated revenue of $5.34 billion in fiscal year 2020 and employs 16,400 people worldwide.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-12-12 00:00:00+00:00
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A
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Agilent Technologies Reaches Analyst Target Price
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In recent trading, shares of Agilent Technologies, Inc. (Symbol: A) have crossed above the average analyst 12-month target price of $132.36, changing hands for $133.74/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business developments that may be responsible for driving the stock price higher — if things are looking up for the company, perhaps it is time for that target price to be raised.
There are 14 different analyst targets within the Zacks coverage universe contributing to that average for Agilent Technologies, Inc., but the average is just that — a mathematical average. There are analysts with lower targets than the average, including one looking for a price of $100.00. And then on the other side of the spectrum one analyst has a target as high as $146.00. The standard deviation is $12.779.
But the whole reason to look at the average A price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with A crossing above that average target price of $132.36/share, investors in A have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $132.36 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? Below is a table showing the current thinking of the analysts that cover Agilent Technologies, Inc.:
RECENT A ANALYST RATINGS BREAKDOWN
» Current 1 Month Ago 2 Month Ago 3 Month Ago
Strong buy ratings: 7 9 9 9
Buy ratings: 0 0 0 0
Hold ratings: 7 5 5 4
Sell ratings: 0 0 0 0
Strong sell ratings: 1 1 1 1
Average rating: 2.2 1.93 1.93 1.86
The average rating presented in the last row of the above table above is from 1 to 5 where 1 is Strong Buy and 5 is Strong Sell. This article used data provided by Zacks Investment Research via Quandl.com. Get the latest Zacks research report on A — FREE.
The Top 25 Broker Analyst Picks of the S&P 500 »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-12-07 00:00:00+00:00
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A
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Agilent (A) Enhances BioTek Cytation C10 With New Technology
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Agilent Technologies A is enhancing its BioTek product line on the back of portfolio expansions and technology upgrades.
Notably, Agilent enhanced the BioTek Cytation C10 confocal imaging reader with the addition of water immersion and confocal spinning disk technology.
Further, the water immersion technology can be used in light microscopy to increase numerical aperture, reduce z-axis distortion, and improve image quality by placing water between the objective lens and sample.
Additionally, the technology aids researchers in reducing exposure times in live-cell applications, thereby reducing the traditional phototoxic effects associated with these experiments.
Moreover, this addition offers a deep-sectioning spinning disk technology, enhancing microscopic images by blocking out-of-focus light, resulting in clearer, more quantitative results.
Agilent is anticipated to gain significant traction among researchers utilizing live-cell and 3D applications on the back of its latest move.
Agilent Technologies, Inc. Price and Consensus
Agilent Technologies, Inc. price-consensus-chart | Agilent Technologies, Inc. Quote
Growth Prospects
The latest move positions the company well to strengthen its footing in the global microplate reader and live cell imaging markets.
Per a Grand View Research report, the global microplate reader market is expected to grow at a CAGR of 7.6% during the forecast period 2023-2030.
A Mordor Intelligence report indicates the global live cell imaging market size will reach $2.95 billion by 2028, exhibiting a CAGR of 7.06% between 2023 and 2028.
We believe the company’s solid prospects in these promising markets are expected to instill investor optimism in the stock.
However, the company has been suffering from macroeconomic uncertainties, weak momentum in China, rising inflationary pressure and geo-political tensions.
Agilent has lost 13.9% in the year-to-date period against the industry’s growth of 0.9%.
ACG Segment in Focus
The latest move bodes well for the company’s growing efforts toward bolstering its Agilent CrossLab Group (ACG) segment.
Notably, Agilent Technologies launched Gen6 software for all Agilent BioTek detection instruments, offering automated optimization tools and improved navigation through built-in data analysis functions.
Further, the company introduced the Agilent BioTek 406 FX washer dispenser, a compact tool that combines reagent dispensing and plate-washing, suitable for automated systems and benchtop use.
All the abovementioned endeavors are likely to aid the performance of the ACG segment in the days ahead.
In fourth-quarter fiscal 2023, the ACG segment revenues increased 6% year over year to $404 million, accounting for 24% of total revenues.
Our model projects fiscal 2024 ACG segment revenues at $1.64 billion, indicating growth of 4.7% from 2022.
Strong momentum in the underlined segment will likely aid its overall financial performance in the upcoming period.
Zacks Rank & Stocks to Consider
Currently, Agilent carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader technology sector are Badger Meter BMI, Arista Networks ANET and Adobe ADBE. While Badger Meter currently sports a Zacks Rank #1 (Strong Buy), Arista Networks and Adobe carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Badger Meter have gained 37.8% in the year-to-date period. BMI’s long-term earnings growth rate is currently projected at 20.39%.
Shares of Arista Networks have surged 75.9% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 19.77%.
Shares of Adobe have gained 84.3% in the year-to-date period. ADBE’s long-term earnings growth rate is currently projected at 13.54%.
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Badger Meter, Inc. (BMI) : Free Stock Analysis Report
Agilent Technologies, Inc. (A) : Free Stock Analysis Report
Adobe Inc. (ADBE) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-12-07 00:00:00+00:00
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A
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Pre-Market Most Active for Dec 7, 2023 : SQQQ, PLTR, TQQQ, ALT, UBER, PFE, GILD, MRK, AMD, NIO, JBLU, AI
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The NASDAQ 100 Pre-Market Indicator is up 70.21 to 15,858.26. The total Pre-Market volume is currently 39,237,818 shares traded.
The following are the most active stocks for the pre-market session:
ProShares UltraPro Short QQQ (SQQQ) is -0.15 at $16.37, with 2,061,124 shares traded. This represents a 6.64% increase from its 52 Week Low.
Palantir Technologies Inc. (PLTR) is +0.32 at $17.45, with 1,538,113 shares traded. PLTR's current last sale is 109.06% of the target price of $16.
ProShares UltraPro QQQ (TQQQ) is +0.42 at $42.94, with 1,408,932 shares traded. This represents a 166.71% increase from its 52 Week Low.
Altimmune, Inc. (ALT) is +0.04 at $6.92, with 1,312,522 shares traded. As reported by Zacks, the current mean recommendation for ALT is in the "buy range".
Uber Technologies, Inc. (UBER) is -0.1504 at $59.60, with 1,305,966 shares traded. Over the last four weeks they have had 6 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2023. The consensus EPS forecast is $0.15. As reported by Zacks, the current mean recommendation for UBER is in the "buy range".
Pfizer, Inc. (PFE) is +0.08 at $28.87, with 1,143,924 shares traded. PFE's current last sale is 78.03% of the target price of $37.
Gilead Sciences, Inc. (GILD) is unchanged at $79.36, with 1,093,482 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2024. The consensus EPS forecast is $1.82. As reported by Zacks, the current mean recommendation for GILD is in the "buy range".
Merck & Company, Inc. (MRK) is -0.25 at $105.38, with 1,073,394 shares traded. As reported by Zacks, the current mean recommendation for MRK is in the "buy range".
Advanced Micro Devices, Inc. (AMD) is +3.53 at $120.35, with 917,522 shares traded. As reported by Zacks, the current mean recommendation for AMD is in the "buy range".
NIO Inc. (NIO) is +0.0803 at $7.83, with 865,295 shares traded. NIO's current last sale is 66.64% of the target price of $11.75.
JetBlue Airways Corporation (JBLU) is +0.39 at $5.12, with 842,311 shares traded. JBLU's current last sale is 89.04% of the target price of $5.75.
C3.ai, Inc. (AI) is -2.88 at $26.28, with 641,132 shares traded. AI's current last sale is 95.56% of the target price of $27.5.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-12-05 00:00:00+00:00
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A
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A Quantitative Stock Analysis
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Below is Validea's guru fundamental report for AGILENT TECHNOLOGIES INC (A). Of the 22 guru strategies we follow, A rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
AGILENT TECHNOLOGIES INC (A) is a large-cap growth stock in the Scientific & Technical Instr. industry. The rating using this strategy is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
BOOK/MARKET RATIO: PASS
RETURN ON ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS VS. RETURN ON ASSETS: PASS
RETURN ON ASSETS VARIANCE: PASS
SALES VARIANCE: PASS
ADVERTISING TO ASSETS: FAIL
CAPITAL EXPENDITURES TO ASSETS: PASS
RESEARCH AND DEVELOPMENT TO ASSETS: FAIL
Detailed Analysis of AGILENT TECHNOLOGIES INC
A Guru Analysis
A Fundamental Analysis
More Information on Partha Mohanram
Partha Mohanram Portfolio
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
Additional Research Links
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About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-24 00:00:00+00:00
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A
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The Zacks Analyst Blog Highlights Visa, Marriott International, Parker-Hannifin, FedEx and Agilent Technologies
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For Immediate Release
Chicago, IL – November 24, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Visa Inc. V, Marriott International, Inc. MAR, Parker-Hannifin Corp. PH, FedEx Corp. FDX and Agilent Technologies, Inc. A.
Here are highlights from Wednesday’s Analyst Blog:
Top Research Reports for Visa, Marriott International and Parker-Hannifin
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Visa Inc., Marriott International, Inc. and Parker-Hannifin Corp. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today's research reports here >>>
Visa's shares have outperformed the Zacks Financial Transaction Services industry over the past year (+20.9% vs. +15.7%). The company's stock prices has consistently outperformed the industry, driven by strategic acquisitions and alliances fostering long-term growth.
The fourth quarter fiscal 2023 earnings beat estimates, fueled by increased payments and sustained investments in technology. The ongoing shift to digital payments is advantageous for Visa, with strong domestic volumes supporting overall performance. A robust cash position enables the company to enhance shareholder value.
However, elevated operating expenses pose margin challenges. Increased client incentives may impact the top line. Additionally, it is witnessing a declining cash volume from the Asia Pacific and CEMEA regions. As such the stock warrants a cautious stance.
(You can read the full research report on Visa here >>>)
Shares of Marriott International have outperformed the Zacks Hotels and Motels industry over the year-to-date period (+40.6% vs. +22.9%). The company's upside was backed by robust leisure demand and solid global booking trends.
Also, substantial RevPAR growth in international markets added to the upside. In the quarter, RevPAR for worldwide comparable system-wide properties increased 8.8% year over year. Also, the emphasis on expansion initiatives, digital innovation and the loyalty program bode well.
During the quarter, the company added 97 properties to its worldwide lodging portfolio. However, challenging macroeconomic conditions and high debt remain a concern. Earnings estimates for 2023 have declined in the past 30 days.
(You can read the full research report on Marriott International here >>>)
Shares ofParker-Hannifin have outperformed the Zacks Manufacturing - General Industrial industry over the year-to-date period (+51.1% vs. +12.0%). The company is benefiting from higher demand from distributors and end users across the oil and gas, material handling, cars and light trucks, and farm and agriculture markets in the North American region within the Diversified Industrial segment.
Higher volume across all businesses, especially the commercial and military aftermarket businesses bolstered the company's Aerospace Systems unit. Synergies from the Meggitt buyout (September 2022) are also aiding the company. Benefits from the Win strategy are driving Parker-Hannifin's margins. The company's measures to add shareholder value hold promise.
However, the escalating cost of sales and rising selling, general and administrative expenses pose a threat to its bottom line. Foreign currency headwinds may dent PH's top line. A weak liquidity position is also worrisome.
(You can read the full research report on Parker-Hannifin here >>>)
Other noteworthy reports we are featuring today include FedEx Corp. and Agilent Technologies, Inc..
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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Visa Inc. (V) : Free Stock Analysis Report
Marriott International, Inc. (MAR) : Free Stock Analysis Report
Parker-Hannifin Corporation (PH) : Free Stock Analysis Report
Agilent Technologies, Inc. (A) : Free Stock Analysis Report
FedEx Corporation (FDX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-22 00:00:00+00:00
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A
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3 Biotech Stocks With Big-Time Breakthrough Potential
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
In a world in constant evolution and growth, more and more companies are needed that are committed to development and research in the health area. These biotech companies are not only doing the job, but also have potential for future growth.
Let’s take a quick look at these biotech stocks to buy.
Agilent (A)
Source: Michael Vi / Shutterstock.com
Agilent Technologies (NYSE:A) is a key player in the life sciences industry, providing vital solutions for laboratories and research facilities. Although it is not a traditional biotech company, its impact on the biotech and healthcare sectors is notable.
In their recent third quarter report, they faced a 2.7% decline in year-on-year revenues, reflecting weaker market conditions. However, the company demonstrated its resilience, showing a 7% increase in non-GAAP net income. Despite these challenges, Agilent adjusted its outlook for the year, anticipating a 0.7% decline to flat growth.
One positive aspect of the report is Agilent’s commitment to shareholders, as evidenced by the 5% increase in the quarterly dividend, reflecting confidence in the company’s financial position. This move may appeal to investors looking for stable returns.
On the biotech front, they received FDA approval for their PD-L1 IHC 22C3 pharmDx PD-L1 IHC 22C3 pharmDx as a diagnostic tool. This approval is crucial for identifying patients with gastric or gastroesophageal junction adenocarcinoma eligible for treatment with KEYTRUDA, an anti-PD-1 therapy developed by Merck (NYSE:MRK). The significance lies in the fact that PD-L1 IHC 22C3 pharmDx is the only FDA-approved companion diagnostic for this purpose, demonstrating Agilent’s leadership in the development of companion diagnostics.
Exact Sciences (EXAS)
Source: Tada Images / Shutterstock
Exact Sciences (NASDAQ:EXAS) stands out as a key player in the field of cancer detection and diagnostics, attracting the attention of investors seeking innovative opportunities. Its recent financial report for the third quarter of 2023 reveals impressive growth, with total revenues of $628 million, a significant 20% increase over the same period last year. Core revenues, excluding exceptionals, showed an even more remarkable increase of 23%, driven by a 31% increase in the Screening segment and a 3% increase in Precision Oncology revenues.
In particular, Exact Sciences made waves with the groundbreaking BLUE-C assay results presented at the 2023 Annual Meeting of the American College of Gastroenterology. The next-generation Cologuard test showed an exceptional sensitivity of 94% for colorectal cancer with a specificity of 91%, outperforming fecal immunochemical tests (FIT) in detecting cancer or pre-cancer. In addition, the test demonstrated higher sensitivity for advanced precancerous lesions compared to FIT.
Beyond the financial success, they showed their commitment to advancing cancer detection and treatment at the European Society for Medical Oncology Congress 2023. The company presented data on its blood-based early detection program for multiple cancers and results from OncoExTra, which provides information on actionable fusions in people with solid tumors.
Soleno Therapeutics (SLNO)
Source: aslysun / Shutterstock.com
Soleno Therapeutics (NASDAQ:SLNO) is like a medical beacon working passionately in the field of rare diseases. Its flagship, diazoxide choline extended-release tablets (DCCR), has recently achieved great success in the treatment of Prader-Willi syndrome (PWS). In a long-term study, DCCR showed a statistically significant improvement over placebo, bringing hope and good vibes to those suffering from this difficult syndrome.
What is even more encouraging is that DCCR is not only effective, but also a good teammate, as it is generally well tolerated and has no unexpected safety issues. These findings, presented at the Prader-Willi Research Foundation Symposium, are like a victory cheer for both the scientific community and the individuals and families affected by PWS.
But these are not just victories on the medical front. Soleno, as a company, is making strategic moves on the financial front. Closing a round of funding to the tune of $129 million is like giving a strong dose of energy to their research and development efforts. They have even welcomed new members to their board, such as industry veteran Matthew Pauls, and added Dr. Mike Huang to their clinical development team.
Looking at their playbook, Soleno is not slowing down. They have published results, are making financial moves, and with an NDA submission for DCCR on the horizon, it looks like they are gearing up for a groundbreaking chapter in their journey to make a meaningful impact on rare diseases.
As of this writing, Gabriel Osorio-Mazzilli did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines (no position)
Gabriel Osorio is a former Goldman Sachs and Citigroup employee. He possesses discipline in bottom-up value investing and volatility-based long/short equities trading.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-22 00:00:00+00:00
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Top Research Reports for Visa, Marriott International & Parker-Hannifin
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Wednesday, November 22, 2023
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Visa Inc. (V), Marriott International, Inc. (MAR) and Parker-Hannifin Corp. (PH). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Visa’s shares have outperformed the Zacks Financial Transaction Services industry over the past year (+20.9% vs. +15.7%). The company’s stock prices has consistently outperformed the industry, driven by strategic acquisitions and alliances fostering long-term growth.
The fourth quarter fiscal 2023 earnings beat estimates, fueled by increased payments and sustained investments in technology. The ongoing shift to digital payments is advantageous for Visa, with strong domestic volumes supporting overall performance. A robust cash position enables the company to enhance shareholder value.
However, elevated operating expenses pose margin challenges. Increased client incentives may impact the top line. Additionally, it is witnessing a declining cash volume from the Asia Pacific and CEMEA regions. As such the stock warrants a cautious stance.
(You can read the full research report on Visa here >>>)
Shares of Marriott International have outperformed the Zacks Hotels and Motels industry over the year-to-date period (+40.6% vs. +22.9%). The company’s upside was backed by robust leisure demand and solid global booking trends.
Also, substantial RevPAR growth in international markets added to the upside. In the quarter, RevPAR for worldwide comparable system-wide properties increased 8.8% year over year. Also, the emphasis on expansion initiatives, digital innovation and the loyalty program bode well.
During the quarter, the company added 97 properties to its worldwide lodging portfolio. However, challenging macroeconomic conditions and high debt remain a concern. Earnings estimates for 2023 have declined in the past 30 days.
(You can read the full research report on Marriott International here >>>)
Shares of Parker-Hannifin have outperformed the Zacks Manufacturing - General Industrial industry over the year-to-date period (+51.1% vs. +12.0%). The company is benefiting from higher demand from distributors and end users across the oil and gas, material handling, cars and light trucks, and farm and agriculture markets in the North American region within the Diversified Industrial segment.
Higher volume across all businesses, especially the commercial and military aftermarket businesses bolstered the company’s Aerospace Systems unit. Synergies from the Meggitt buyout (September 2022) are also aiding the company. Benefits from the Win strategy are driving Parker-Hannifin’s margins. The company’s measures to add shareholder value hold promise.
However, the escalating cost of sales and rising selling, general and administrative expenses pose a threat to its bottom line. Foreign currency headwinds may dent PH’s top line. A weak liquidity position is also worrisome.
(You can read the full research report on Parker-Hannifin here >>>)
Other noteworthy reports we are featuring today include FedEx Corp. (FDX), América Móvil, S.A.B. de C.V. (AMX) and Agilent Technologies, Inc. (A).
Mark Vickery
Senior Editor
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Today's Must Read
Visa (V) Rides On Growing Cross Border Volume, Expenses High
Solid Demand & Expansion Effort Aid Marriott (MAR), High Debt Ail
Aerospace Systems Unit Aids Parker-Hannifin ( PH ), Costs Hurt
Featured Reports
FedEx (FDX) Benefits From Dividends & Buyback, Expenses Ail
The Zacks analyst likes the shareholder-friendly measures adopted by FedEx. However, capital expenditures are concerning as they are likely to keep the bottom line under pressure.
America Movil (AMX) Benefits from Increasing Subscriber Base
Per the Zacks analyst, America Movil's performance is gaining from growing subscriber base. However, stiff competition and high debt load are major concerns.
Sluggishness in LSAG Segment Hurts Agilent Technologies (A)
Per the Zacks analyst, Agilent Technologies is suffering from weak Life Sciences & Applied Markets Group (LSAG) segment owing to soft market conditions in China and a sluggish pharma market.
Decent AUM & Organic Growth Aid Carlyle (CG), High Costs Ail
Per the Zacks analyst, Carlyle's decent AUM balances and organic growth support its top-line expansion. However, escalating expenses are likely to impede bottom-line growth.
Focus on R&D Aids Inspire Medical (INSP) in Stiff Competition
The Zacks analyst is upbeat about Inspire Medical's focus on research and development despite its operation in a highly competitive market.
RingCentral (RNG) Rides on Strong Portfolio, Partner Base
Per the Zacks analyst, RingCentral benefits from solid demand for its Unified Communications as a Service and contact center software-as-a-service solutions.
TreeHouse Foods (THS) Gains from Efficient Pricing Efforts
Per the Zacks analyst, TreeHouse Foods has been gaining from its pricing efforts. Net sales advanced 3.6% year over year in Q3, driven by favorable pricing actions undertaken to recover inflation.
New Upgrades
Mobileye (MBLY) Rides High on ADAS Technology's Design Wins
The Zacks analyst is optimistic about Mobileye's Advanced Driver Assistance Systems (ADAS) Technology's design wins, which is likely to generate a $17 billion revenue pipeline through 2030.
UK Nod to CRISPR's (CRSP) Casgevy Gene Therapy Encouraging
Per the Zacks Analyst, the U.K. approval to CRISPR Therapeutics' Casgevy is a major scientific breakthrough as it marks the first ever regulatory authorization for a CRISPR/Cas9-based gene therapy.
Improved Menu Strategies & Expansion Plans Aid Brinker (EAT)
Per the Zacks analyst, Brinker is benefiting from improved menu pricing, a favorable menu item mix and sales leverage. Also, expansion plans and digital enhancements bodes well.
New Downgrades
Seasonality & Strong Competition Ail UGI Corporation (UGI)
Per the Zacks analyst, UGI's seasonal business operations may reduce demand and adversely impact its overall performance. Strong competition from other clean sources may lower profitability.
JetBlue Airways (JBLU) Reels Under High Operating Expenses
The Zacks analyst is worried about the elevated expenses on fuel. High non-fuel unit costs represent another headwind at JetBlue.
RPC (RES) Likely to Suffer From Aggressive Capital Budget
Per the Zacks analyst, RPC is anticipated to face challenges due to its increased capital expenditure, impacting its profitability. Additionally, rising costs of revenues are a cause for concern.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Visa Inc. (V) : Free Stock Analysis Report
Marriott International, Inc. (MAR) : Free Stock Analysis Report
America Movil, S.A.B. de C.V. Unsponsored ADR (AMX) : Free Stock Analysis Report
Parker-Hannifin Corporation (PH) : Free Stock Analysis Report
Agilent Technologies, Inc. (A) : Free Stock Analysis Report
FedEx Corporation (FDX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-21 00:00:00+00:00
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Tuesday Sector Leaders: Healthcare, Consumer Products
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In afternoon trading on Tuesday, Healthcare stocks are the best performing sector, up 0.8%. Within that group, Agilent Technologies, Inc. (Symbol: A) and Waters Corp. (Symbol: WAT) are two large stocks leading the way, showing a gain of 8.8% and 5.7%, respectively. Among healthcare ETFs, one ETF following the sector is the Health Care Select Sector SPDR ETF (Symbol: XLV), which is up 0.8% on the day, and down 2.87% year-to-date. Agilent Technologies, Inc., meanwhile, is down 16.88% year-to-date, and Waters Corp., is down 20.21% year-to-date. Combined, A and WAT make up approximately 1.1% of the underlying holdings of XLV.
The next best performing sector is the Consumer Products sector, not showing much of a loss. Among large Consumer Products stocks, Tesla Inc (Symbol: TSLA) and Clorox Co (Symbol: CLX) are the most notable, showing a gain of 2.4% and 2.2%, respectively. One ETF closely tracking Consumer Products stocks is the iShares U.S. Consumer Goods ETF (IYK), which is up 0.2% in midday trading, and down 5.05% on a year-to-date basis. Tesla Inc, meanwhile, is up 123.25% year-to-date, and Clorox Co is up 1.76% year-to-date. CLX makes up approximately 0.8% of the underlying holdings of IYK.
Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom:
Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Tuesday. As you can see, one sector is up on the day, while six sectors are down.
SECTOR % CHANGE
Healthcare +0.8%
Consumer Products -0.0%
Materials -0.0%
Industrial -0.1%
Utilities -0.2%
Financial -0.2%
Services -0.3%
Energy -0.4%
Technology & Communications -0.8%
25 Dividend Giants Widely Held By ETFs »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-21 00:00:00+00:00
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A Quantitative Stock Analysis
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Below is Validea's guru fundamental report for AGILENT TECHNOLOGIES INC (A). Of the 22 guru strategies we follow, A rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
AGILENT TECHNOLOGIES INC (A) is a large-cap growth stock in the Scientific & Technical Instr. industry. The rating using this strategy is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
BOOK/MARKET RATIO: PASS
RETURN ON ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS VS. RETURN ON ASSETS: PASS
RETURN ON ASSETS VARIANCE: PASS
SALES VARIANCE: PASS
ADVERTISING TO ASSETS: FAIL
CAPITAL EXPENDITURES TO ASSETS: PASS
RESEARCH AND DEVELOPMENT TO ASSETS: FAIL
Detailed Analysis of AGILENT TECHNOLOGIES INC
A Guru Analysis
A Fundamental Analysis
More Information on Partha Mohanram
Partha Mohanram Portfolio
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
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About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-21 00:00:00+00:00
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Agilent (A) Q4 Earnings & Revenues Beat Estimates, Down Y/Y
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Agilent Technologies A delivered fourth-quarter fiscal 2023 earnings of $1.38 per share, which beat the Zacks Consensus Estimate by 2.99%. The bottom line decreased 10% from the year-ago quarter.
Revenues of $1.69 billion surpassed the Zacks Consensus Estimate of $1.67 billion. However, the top line was down 8.7% on a reported basis and 9.7% on a core basis from the respective year-ago levels.
The decline was attributed to broad-based weakness across all the end markets, especially in Chemistry & Advanced Materials, Pharma, Food and Diagnostics and Clinical markets.
Also, weak momentum in China was a major concern. The company witnessed a year-over-year decline of 31% in its business in China in the reported quarter.
Agilent Technologies, Inc. Price, Consensus and EPS Surprise
Agilent Technologies, Inc. price-consensus-eps-surprise-chart | Agilent Technologies, Inc. Quote
Segmental Top-Line Details
Agilent has three reporting segments, namely, Life Sciences & Applied Markets Group (“LSAG”), Agilent Cross Lab Group (“ACG”) and Diagnostics and Genomics Group (“DGG”).
LSAG: The segment accounted for $928 million or 55% of its total revenues, down 17% on a reported basis and 18% on a core basis from the respective prior-year fiscal quarter’s levels. This was due to macroeconomic uncertainties, soft market conditions in China and sluggish capital spending by the customers. The reported figure came ahead of the Zacks Consensus Estimate of $925 million.
ACG: Revenues from the segment were $404 million, accounting for 24% of total revenues. The figure surpassed the consensus mark of $401 million. The top line improved by 6% from the prior-year fiscal quarter’s reading on a reported basis and by 4% on a core basis, demonstrating solid momentum across all end markets and regions except China.
DGG: Revenues increased 1% from the prior-year fiscal quarter’s figure on a reported basis to $356 million, accounting for the remaining 21% of total revenues. The figure remained flat year over year on a core basis. The figure came above the consensus mark of $345 million. Segmental growth was attributed to strength in the NASD business.
However, weakness in the genomics business was a negative.
Operating Results
For the fiscal fourth quarter, gross margin in the LSAG segment contracted by 100 basis points (bps) to 59.6% from the prior-year fiscal quarter’s number. ACG’s gross margin expanded by 180 bps to 50.4%. DGG’s gross margin expanded by 90 bps from the year-ago fiscal quarter’s actuals to 51.9%.
Research & development (“R&D”) costs were $114 million, down 4.2% from the prior-year fiscal quarter’s number. Selling, general & administrative (“SG&A”) expenses were $393 million, down 6.9% from the year-earlier fiscal quarter’s figure. As a percentage of revenues, R&D expenses expanded by 40 bps year over year to 6.8%. SG&A expenses expanded by 50 bps year over year to 23.3%.
Operating margin for the fiscal fourth quarter was 24.2%, which declined 130 bps from the year-earlier fiscal quarter’s figure.
Segment-wise, the operating margin in the LSAG segment contracted by 460 bps to 28.1% from the prior-year fiscal quarter’s number. ACG’s gross margin expanded by 430 bps to 31.7%. DGG’s gross margin expanded by 300 bps from the year-ago fiscal quarter’s actuals to 22.5%.
Balance Sheet & Cash Flow
As of Oct 31, 2023, Agilent’s cash and cash equivalents were $1.59 billion, up from $1.33 billion on Jul 31, 2023.
Accounts receivables were $1.29 billion at the end of fourth-quarter fiscal 2023, down from $1.33 billion at the end of third-quarter fiscal 2023.
Long-term debt was $2.735 billion for the reported quarter compared with $2.734 billion in the prior fiscal quarter.
Agilent generated $516 million in cash from operations during the reported quarter, down from $562 million generated in the previous quarter.
The company made dividend payments worth $66 million and repurchased shares worth $80 million during the fiscal fourth quarter.
Guidance
For the fiscal first quarter of 2024, management expects revenues of $1.555-$1.605 billion, suggesting a decline between 11.4% and 8.6% on a reported basis from the year-ago fiscal quarter’s actuals. The Zacks Consensus Estimate for the same is pegged at $1.69 billion.
Non-GAAP earnings per share are expected to be $1.20-$1.23. The consensus mark for fiscal first-quarter earnings is pinned at $1.33 per share.
For fiscal 2024, management expects revenues in the band of $6.71-$6.81 billion, implying a fall of 1.8-0.3% on a reported basis from the respective fiscal 2023 figures. The Zacks Consensus Estimate for the same is pegged at $6.81 billion.
Fiscal 2024 non-GAAP earnings per share are projected in the range of $5.44-$5.55. The consensus mark for fiscal 2024 earnings is pinned at $5.41 per share.
Zacks Rank & Stocks to Consider
Currently, Agilent carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Badger Meter BMI, Arista Networks ANET and Salesforce CRM. Badger Meter sports a Zacks Rank #1 (Strong Buy), and Arista Networks and Salesforce carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Badger Meter have gained 24.8% in the year-to-date period. BMI’s long-term earnings growth rate is currently projected at 20.39%.
Shares of Arista Networks have surged 56.4% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 19.77%.
Shares of Salesforce have gained 57.4% in the year-to-date period. CRM’s long-term earnings growth rate is currently projected at 22.54%.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Salesforce Inc. (CRM) : Free Stock Analysis Report
Badger Meter, Inc. (BMI) : Free Stock Analysis Report
Agilent Technologies, Inc. (A) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-21 00:00:00+00:00
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S&P 500 Movers: J, A
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In early trading on Tuesday, shares of Agilent Technologies, topped the list of the day's best performing components of the S&P 500 index, trading up 8.1%. Year to date, Agilent Technologies has lost about 17.7% of its value.
And the worst performing S&P 500 component thus far on the day is Jacobs Solutions, trading down 5.5%. Jacobs Solutions is showing a gain of 7.9% looking at the year to date performance.
Two other components making moves today are Best Buy, trading down 4.1%, and Waters, trading up 5.0% on the day.
VIDEO: S&P 500 Movers: J, A
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-21 00:00:00+00:00
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A Makes Bullish Cross Above Critical Moving Average
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In trading on Tuesday, shares of Agilent Technologies, Inc. (Symbol: A) crossed above their 200 day moving average of $124.47, changing hands as high as $124.68 per share. Agilent Technologies, Inc. shares are currently trading up about 8.2% on the day. The chart below shows the one year performance of A shares, versus its 200 day moving average:
Looking at the chart above, A's low point in its 52 week range is $96.80 per share, with $160.265 as the 52 week high point — that compares with a last trade of $123.46. The A DMA information above was sourced from TechnicalAnalysisChannel.com
Click here to find out which 9 other stocks recently crossed above their 200 day moving average »
Also see:
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AIT Dividend Growth Rate
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-20 00:00:00+00:00
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Agilent (A) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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Agilent Technologies (A) reported $1.69 billion in revenue for the quarter ended October 2023, representing a year-over-year decline of 8.7%. EPS of $1.38 for the same period compares to $1.53 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.67 billion, representing a surprise of +1.29%. The company delivered an EPS surprise of +2.99%, with the consensus EPS estimate being $1.34.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Agilent performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Revenue- Americas: $702 million compared to the $678.42 million average estimate based on two analysts.
Net Revenue- Asia Pacific: $553 million compared to the $582.25 million average estimate based on two analysts.
Net Revenue- Europe: $433 million versus $416.94 million estimated by two analysts on average.
Net Revenue- Diagnostics and Genomics Group: $356 million versus $345.17 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.1% change.
Net Revenue- Life Sciences and Applied Markets Group: $928 million compared to the $924.52 million average estimate based on four analysts. The reported number represents a change of -16.9% year over year.
Net Revenue- Agilent Crosslab Group: $404 million compared to the $401.38 million average estimate based on four analysts. The reported number represents a change of +6% year over year.
Revenue by End Markets- Chemical and advanced materials: $381 million compared to the $379.36 million average estimate based on two analysts.
Revenue by End Markets- Environmental and Forensics: $175 million versus $171.76 million estimated by two analysts on average.
Revenue by End Markets- Diagnostics and Clinical: $236 million compared to the $234.25 million average estimate based on two analysts.
Revenue by End Markets- Academia and Government: $150 million versus the two-analyst average estimate of $147.76 million.
Revenue by End Markets- Pharmaceutical and Biopharmaceutical: $590 million compared to the $595.74 million average estimate based on two analysts.
Revenue by End Markets- Food: $156 million versus the two-analyst average estimate of $152.73 million.
View all Key Company Metrics for Agilent here>>>
Shares of Agilent have returned +3.6% over the past month versus the Zacks S&P 500 composite's
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Agilent Technologies, Inc. (A) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-20 00:00:00+00:00
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Agilent Technologies Q4 Profit Increases, beats estimates
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(RTTNews) - Agilent Technologies (A) reported a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.
The company's earnings totaled $475 million, or $1.62 per share. This compares with $368 million, or $1.23 per share, in last year's fourth quarter.
Excluding items, Agilent Technologies reported adjusted earnings of $404 million or $1.38 per share for the period.
Analysts on average had expected the company to earn $1.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 8.6% to $1.69 billion from $1.85 billion last year.
Agilent Technologies earnings at a glance (GAAP) :
-Earnings (Q4): $475 Mln. vs. $368 Mln. last year. -EPS (Q4): $1.62 vs. $1.23 last year. -Analyst Estimate: $1.34 -Revenue (Q4): $1.69 Bln vs. $1.85 Bln last year.
-Guidance: Next quarter EPS guidance: $1.20 - $1.23 Next quarter revenue guidance: $1.555 - $1.605 Bln
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-20 00:00:00+00:00
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After-Hours Earnings Report for November 20, 2023 : A, KEYS, ZM, BRBR, SYM, GBDC, CENTA, CENT, ENTA, XELB
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The following companies are expected to report earnings after hours on 11/20/2023. Visit our Earnings Calendar for a full list of expected earnings releases.
Agilent Technologies, Inc. (A)is reporting for the quarter ending October 31, 2023. The electrical test equipment company's consensus earnings per share forecast from the 8 analysts that follow the stock is $1.34. This value represents a 12.42% decrease compared to the same quarter last year. In the past year A has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2023 Price to Earnings ratio for A is 20.91 vs. an industry ratio of 33.10.
Keysight Technologies Inc. (KEYS)is reporting for the quarter ending October 31, 2023. The electrical instrument company's consensus earnings per share forecast from the 5 analysts that follow the stock is $1.73. This value represents a 14.36% decrease compared to the same quarter last year. KEYS missed the consensus earnings per share in the 1st calendar quarter of 2023 by -1.15%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for KEYS is 17.71 vs. an industry ratio of 27.70.
Zoom Video Communications, Inc. (ZM)is reporting for the quarter ending October 31, 2023. The internet software company's consensus earnings per share forecast from the 10 analysts that follow the stock is $0.36. This value represents a 71.43% increase compared to the same quarter last year. Zacks Investment Research reports that the 2024 Price to Earnings ratio for ZM is 36.23 vs. an industry ratio of -416.60, implying that they will have a higher earnings growth than their competitors in the same industry.
BellRing Brands, Inc. (BRBR)is reporting for the quarter ending September 30, 2023. The medical products company's consensus earnings per share forecast from the 7 analysts that follow the stock is $0.40. This value represents a 29.03% increase compared to the same quarter last year. In the past year BRBR has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 6.25%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for BRBR is 34.63 vs. an industry ratio of 5.30, implying that they will have a higher earnings growth than their competitors in the same industry.
Symbotic Inc. (SYM)is reporting for the quarter ending September 30, 2023. The technology services company's consensus earnings per share forecast from the 4 analysts that follow the stock is $-0.06. This value represents a 40.00% increase compared to the same quarter last year. Zacks Investment Research reports that the 2023 Price to Earnings ratio for SYM is -103.33 vs. an industry ratio of 13.80.
Golub Capital BDC, Inc. (GBDC)is reporting for the quarter ending September 30, 2023. The financial services company's consensus earnings per share forecast from the 2 analysts that follow the stock is $0.48. This value represents a 45.45% increase compared to the same quarter last year. In the past year GBDC has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 2.33%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for GBDC is 8.61 vs. an industry ratio of 7.80, implying that they will have a higher earnings growth than their competitors in the same industry.
Central Garden & Pet Company (CENTA)is reporting for the quarter ending September 30, 2023. The consumer company's consensus earnings per share forecast from the 4 analysts that follow the stock is $0.08. This value represents a 300.00% increase compared to the same quarter last year. CENTA missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -233.33%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for CENTA is 15.59 vs. an industry ratio of 10.70, implying that they will have a higher earnings growth than their competitors in the same industry.
Central Garden & Pet Company (CENT)is reporting for the quarter ending September 30, 2023. The consumer company's consensus earnings per share forecast from the 4 analysts that follow the stock is $0.08. This value represents a 300.00% increase compared to the same quarter last year. CENT missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -233.33%. The "days to cover" for this stock exceeds 13 days. Zacks Investment Research reports that the 2023 Price to Earnings ratio for CENT is 17.17 vs. an industry ratio of 10.70, implying that they will have a higher earnings growth than their competitors in the same industry.
Enanta Pharmaceuticals, Inc. (ENTA)is reporting for the quarter ending September 30, 2023. The drug company's consensus earnings per share forecast from the 5 analysts that follow the stock is $-2.11. This value represents a 66.14% decrease compared to the same quarter last year. In the past year ENTA has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 21.85%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for ENTA is -1.26 vs. an industry ratio of 3.30.
Xcel Brands, Inc (XELB)is reporting for the quarter ending September 30, 2023. The retail (shoe) company's consensus earnings per share forecast from the 3 analysts that follow the stock is $-0.14. This value represents a 17.65% increase compared to the same quarter last year. XELB missed the consensus earnings per share in the 1st calendar quarter of 2023 by -11.76%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for XELB is -1.43 vs. an industry ratio of 11.80.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-20 00:00:00+00:00
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Agilent Technologies Q4 23 Earnings Conference Call At 4:30 PM ET
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(RTTNews) - Agilent Technologies (A) will host a conference call at 4:30 PM ET on November 20, 2023, to discuss Q4 23 earnings results.
To access the live webcast, log on to https://www.investor.agilent.com/news-and-events/events/default.aspx
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-16 00:00:00+00:00
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Daily Dividend Report: CSCO,CB,EXR,NOC,A,PHM
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Cisco has declared a quarterly dividend of $0.39 per common share to be paid on January 24, 2024, to all stockholders of record as of the close of business on January 4, 2024.
The Board of Directors of Chubb today declared a quarterly dividend equal to $0.86 per share, payable on January 5, 2024 to shareholders of record at the close of business on December 15, 2023. The dividend will be payable out of legal reserves and will be made in United States dollars by the company's transfer agent, as described in the Chubb Limited 2023 proxy statement. This will be the third installment as approved by the company's shareholders on May 17, 2023.
Extra Space Storage announced today that the Company's board of directors has declared a fourth quarter 2023 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on December 29, 2023 to stockholders of record at the close of business on December 15, 2023.
The board of directors of Northrop Grumman declared a quarterly dividend of $1.87 per share on Northrop Grumman common stock, payable Dec. 13, 2023, to shareholders of record as of the close of business Nov. 27, 2023.
Agilent Technologies today announced the company has increased its quarterly dividend to 23.6 cents per share of common stock, a 5% increase over the previous dividend. The quarterly dividend will be paid on Jan. 24, 2024, to all shareholders of record as of the close of business on Jan. 2, 2024.
PulteGroup announced today that its Board of Directors has voted to increase the Company's quarterly dividend by 25% to $0.20 per common share. The increase will be effective with the Company's next scheduled dividend, which is payable January 3, 2024, to shareholders of record at the close of business on December 19, 2023.
VIDEO: Daily Dividend Report: CSCO,CB,EXR,NOC,A,PHM
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-16 00:00:00+00:00
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What to Note Ahead of Agilent Technologies' (A) Q4 Earnings
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Agilent Technologies A is set to report its fourth-quarter fiscal 2023 results on Nov 20.
For the fiscal fourth quarter, A expects revenues of $1.655-$1.705 billion, suggesting a decline between 12.2% and 9.5% on a core basis from the year-ago fiscal quarter’s actuals. The Zacks Consensus Estimate for the same is pegged at $1.67 billion, implying a decline of 9.9% from the year-ago fiscal quarter’s reported figure.
Agilent’s non-GAAP earnings are expected to be $1.33-$1.36 per share. The Zacks Consensus Estimate for earnings is pegged at $1.34 per share, indicating a fall of 12.4% from the year-ago fiscal quarter’s reported figure.
Agilent’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and matched the same once, the average being 4.76%.
Agilent Technologies, Inc. Price and EPS Surprise
Agilent Technologies, Inc. price-eps-surprise | Agilent Technologies, Inc. Quote
Factors to Note
The company is expected to have gained from growing momentum across Agilent’s Cross Lab Group (“ACG”) and Diagnostics and Genomics Group (“DGG”) segments during the fiscal fourth quarter.
The ACG segment is likely to have benefited from robust portfolio offerings. Strength in services and solid momentum across all regions and end markets are likely to have contributed well.
The Zacks Consensus Estimate for ACG is pegged at $401 million, implying growth of 5.2% from the year-ago fiscal quarter’s reported figure.
Agilent’s strength in the Nucleic Acid Solutions Division business is expected to have continued benefiting the DGG segment’s performance in the fiscal fourth quarter. Also, solid demand for diagnostic tests is expected to have aided the performance of the company’s pathology business.
However, weakness in genomics and Resolution Bioscience businesses might have been a negative
The Zacks Consensus Estimate for DGG is pegged at $345 million, implying a fall of 2% from the year-ago fiscal quarter’s reported figure.
Strength in liquid chromatography and liquid chromatography-mass spectrometry and lab consumables is expected to have benefited Agilent’s Life Sciences & Applied Markets Group (“LSAG”) segment in the quarter under review.
However, the weakening pharma market, macroeconomic uncertainties and soft market conditions in China are likely to have scaled down the LSAG segment’s revenues in the fiscal fourth quarter.
The Zacks Consensus Estimate for LSAG is pegged at $925 million, implying a decline of 17.1% from the year-ago fiscal quarter’s reported figure.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Agilent Technologies this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Agilent Technologies has a Zacks Rank #4 (Sell) and an Earnings ESP of -0.28% at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this season.
Costco Wholesale COST has an Earnings ESP of +4.26% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Costco is set to announce its first-quarter fiscal 2024 results on Dec 14. COST shares have gained 29.6% year to date.
Synopsys SNPS has an Earnings ESP of +0.94% and a Zacks Rank #2.
Synopsys is set to announce its fourth-quarter fiscal 2023 results on Nov 29. SNPS shares have declined 24.9% year to date.
Snowflake SNOW has an Earnings ESP of +67.33% and a Zacks Rank #2.
Snowflake is set to announce its third-quarter fiscal 2024 results on Nov 29. SNOW shares have gained 86% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.0% per year. So be sure to give these hand-picked 7 your immediate attention.
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Agilent Technologies, Inc. (A) : Free Stock Analysis Report
Costco Wholesale Corporation (COST) : Free Stock Analysis Report
Synopsys, Inc. (SNPS) : Free Stock Analysis Report
Snowflake Inc. (SNOW) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-16 00:00:00+00:00
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Agilent (A) Boosts DGG Offerings With PD-L1 IHC 22C3 Approval
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Agilent Technologies A is leaving no stone unturned to bolster diagnostic tool offerings in a bid to strengthen its Diagnostics and Genomics Group (DGG) segment.
Notably, Agilent received FDA approval for its PD-L1 IHC 22C3 pharmDx diagnostic tool, which helps in Gastric or Gastroesophageal Junction Adenocarcinoma diagnosis.
Further, it identifies patients’ eligibility for treatment with KEYTRUDA, an anti-programmed cell death (PD1) therapy, along with chemotherapy, trastuzumab and fluoropyrimidine.
Additionally, PD-L1 IHC 22C3 pharmDx aids in identifying patients with non-small cell lung, esophageal, cervical, head and neck and triple-negative breast cancer who may be eligible for KEYTRUDA treatment.
We note that this approval would benefit cancer patients whose tumors express programmed cell death ligand 1 (PD-L1).
Agilent Technologies, Inc. Price and Consensus
Agilent Technologies, Inc. price-consensus-chart | Agilent Technologies, Inc. Quote
Growth Prospects
The latest announcement bodes well for the company’s deepening focus to strengthen its footprint in the PD-1 and PD-L1 inhibitors market. This, in turn, will aid Agilent to solidify its footing in the global cancer diagnostics market.
Per a Mordor Intelligence report, the global PD-1 and PD-L1 inhibitors market is expected to hit $45.8 billion in 2023 and reach $104.6 billion by 2028, witnessing a CAGR of 18% between 2023 and 2028.
A Future Market Insights report indicates that the global cancer diagnostics market will reach $126 billion by 2033, exhibiting a CAGR of 8.5% during the forecast period of 2023-2033.
We believe the company’s solid prospects in these promising markets are expected to instill investor optimism in the stock.
However, it has been suffering from macroeconomic uncertainties, weak momentum in China, rising inflationary pressure and geo-political tensions.
Agilent has lost 24.1% in the year-to-date period, underperforming the industry’s decline of 4.6%.
Expanding DGG Segment
Apart from the latest move, Agilent released the enhanced xCELLigence RTCA Software Pro Version 2.8, a software package for real-time cell analysis in GMP-regulated facilities, ensuring data authenticity and compliance.
Further, Agilent launched the Agilent SureSelect Cancer CGP Assay, a pan-cancer assay designed for somatic variant profiling of solid tumor types, utilizing an NGS panel of 679 genes.
We note that all the above-mentioned endeavors will likely act as a catalyst for its customer base expansion.
Notably, Agilent signed a Research Collaboration Agreement with the National Cancer Centre Singapore to expedite translational cancer research on Asian-prevalent cancer genomics over two years.
Further, the agreement involves the provision of an Agilent Magnis NGS Preparation System for investigating specific details in Asian cancer cohorts, where tissue samples are limited locally and regionally.
Moreover, Agilent signed a Memorandum of Understanding with Advanced Cell Therapy and Research Institute, Singapore, to install and operate its xCELLigence real-time cell analyzer, aiming to advance cell and gene therapy over the next three years.
All these endeavors are likely to aid the performance of the DGG segment in the days ahead.
For third-quarter fiscal 2023, revenues in the underlined segment increased 3% from the prior-year fiscal quarter’s figure on a reported as well as a core basis to $349 million.
Our model estimate for DGG revenues for fiscal 2023 is pegged at $1.41 billion, indicating growth of 1.5% from the 2022 level. The same for fiscal 2024 and fiscal 2025 stands at $1.48 billion and $1.58 billion, suggesting year-over-year growth of 5% and 7%, respectively.
Zacks Rank & Stocks to Consider
Currently, Agilent carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader technology sector are Badger Meter BMI, Arista Networks ANET and Salesforce CRM. While Badger Meter sports a Zacks Rank #1 (Strong Buy), Arista Networks and Salesforce carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Badger Meter shares have gained 35.9% in the year-to-date period. BMI’s long-term earnings growth rate is currently projected at 20.39%.
Arista Networks shares have gained 71.2% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 20.4%
Salesforce shares have gained 65.5% in the year-to-date period. CRM’s long-term earnings growth rate is currently projected at 22.54%.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.0% per year. So be sure to give these hand-picked 7 your immediate attention.
See them now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Salesforce Inc. (CRM) : Free Stock Analysis Report
Badger Meter, Inc. (BMI) : Free Stock Analysis Report
Agilent Technologies, Inc. (A) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-14 00:00:00+00:00
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Agilent Technologies Announces FDA Approval For PD-L1 IHC 22C3 PharmDx - Quick Facts
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(RTTNews) - Agilent Technologies Inc. (A) has received FDA approval for the use of PD-L1 IHC 22C3 pharmDx as a diagnostic tool to aid in identifying patients with Gastric or Gastroesophageal Junction Adenocarcinoma who may be eligible for treatment with KEYTRUDA, Merck's anti-PD-1 therapy. The company noted that this marks the sixth cancer type for which PD-L1 IHC 22C3 pharmDx has gained FDA approval.
PD-L1 IHC 22C3 pharmDx was developed by Agilent in partnership with Merck as a companion diagnostic for KEYTRUDA.
For More Such Health News, visit rttnews.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-13 00:00:00+00:00
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Analysts Estimate Agilent Technologies (A) to Report a Decline in Earnings: What to Look Out for
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Wall Street expects a year-over-year decline in earnings on lower revenues when Agilent Technologies (A) reports results for the quarter ended October 2023. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on November 20. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on theearnings callwill mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus Estimate
This scientific instrument maker is expected to post quarterly earnings of $1.34 per share in its upcoming report, which represents a year-over-year change of -12.4%.
Revenues are expected to be $1.67 billion, down 9.7% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has been revised 0.19% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Earnings Whisper
Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Agilent?
For Agilent, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.53%.
On the other hand, the stock currently carries a Zacks Rank of #4.
So, this combination makes it difficult to conclusively predict that Agilent will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?
While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Agilent would post earnings of $1.37 per share when it actually produced earnings of $1.43, delivering a surprise of +4.38%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Agilent doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Agilent Technologies, Inc. (A) : Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-08 00:00:00+00:00
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Agilent Technologies (A) Stock Dips While Market Gains: Key Facts
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In the latest trading session, Agilent Technologies (A) closed at $109.39, marking a -1.04% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.1%. At the same time, the Dow lost 0.12%, and the tech-heavy Nasdaq gained 0.08%.
Shares of the scientific instrument maker have depreciated by 2.43% over the course of the past month, underperforming the Computer and Technology sector's gain of 1.55% and the S&P 500's gain of 1.72%.
Market participants will be closely following the financial results of Agilent Technologies in its upcoming release. The company plans to announce its earnings on November 20, 2023. The company is expected to report EPS of $1.34, down 12.42% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $1.67 billion, indicating a 9.65% downward movement from the same quarter last year.
Investors might also notice recent changes to analyst estimates for Agilent Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.09% downward. At present, Agilent Technologies boasts a Zacks Rank of #4 (Sell).
Investors should also note Agilent Technologies's current valuation metrics, including its Forward P/E ratio of 19.55. Its industry sports an average Forward P/E of 23.35, so one might conclude that Agilent Technologies is trading at a discount comparatively.
Meanwhile, A's PEG ratio is currently 1.96. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. A's industry had an average PEG ratio of 2.24 as of yesterday's close.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 38% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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Agilent Technologies, Inc. (A) : Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-07 00:00:00+00:00
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A Quantitative Stock Analysis
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Below is Validea's guru fundamental report for AGILENT TECHNOLOGIES INC (A). Of the 22 guru strategies we follow, A rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
AGILENT TECHNOLOGIES INC (A) is a large-cap growth stock in the Scientific & Technical Instr. industry. The rating using this strategy is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
BOOK/MARKET RATIO: PASS
RETURN ON ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS VS. RETURN ON ASSETS: PASS
RETURN ON ASSETS VARIANCE: PASS
SALES VARIANCE: PASS
ADVERTISING TO ASSETS: FAIL
CAPITAL EXPENDITURES TO ASSETS: PASS
RESEARCH AND DEVELOPMENT TO ASSETS: FAIL
Detailed Analysis of AGILENT TECHNOLOGIES INC
A Guru Analysis
A Fundamental Analysis
More Information on Partha Mohanram
Partha Mohanram Portfolio
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
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About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-11-01 00:00:00+00:00
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Agilent Technologies (A) Stock Dips While Market Gains: Key Facts
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Agilent Technologies (A) closed at $102.86 in the latest trading session, marking a -0.49% move from the prior day. This change lagged the S&P 500's 1.05% gain on the day. On the other hand, the Dow registered a gain of 0.67%, and the technology-centric Nasdaq increased by 1.64%.
Shares of the scientific instrument maker have depreciated by 6.25% over the course of the past month, underperforming the Computer and Technology sector's loss of 2.51% and the S&P 500's loss of 2.21%.
Analysts and investors alike will be keeping a close eye on the performance of Agilent Technologies in its upcoming earnings disclosure. The company's earnings report is set to go public on November 20, 2023. The company is expected to report EPS of $1.37, down 10.46% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $1.67 billion, reflecting a 9.65% fall from the equivalent quarter last year.
Investors should also note any recent changes to analyst estimates for Agilent Technologies. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.05% lower. At present, Agilent Technologies boasts a Zacks Rank of #4 (Sell).
Investors should also note Agilent Technologies's current valuation metrics, including its Forward P/E ratio of 19.1. This indicates a discount in contrast to its industry's Forward P/E of 24.31.
It's also important to note that A currently trades at a PEG ratio of 1.91. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Electronics - Testing Equipment industry had an average PEG ratio of 2.45.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 34, finds itself in the top 14% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Agilent Technologies, Inc. (A) : Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-10-31 00:00:00+00:00
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Ametek (AME) Q3 Earnings Surpass Estimates
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Ametek (AME) came out with quarterly earnings of $1.64 per share, beating the Zacks Consensus Estimate of $1.58 per share. This compares to earnings of $1.45 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 3.80%. A quarter ago, it was expected that this maker of electronic instruments and electromechanical devices would post earnings of $1.52 per share when it actually produced earnings of $1.57, delivering a surprise of 3.29%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Ametek, which belongs to the Zacks Electronics - Testing Equipment industry, posted revenues of $1.62 billion for the quarter ended September 2023, missing the Zacks Consensus Estimate by 1.55%. This compares to year-ago revenues of $1.55 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Ametek shares have added about 0.3% since the beginning of the year versus the S&P 500's gain of 8.5%.
What's Next for Ametek?
While Ametek has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Ametek: favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.62 on $1.72 billion in revenues for the coming quarter and $6.26 on $6.61 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Electronics - Testing Equipment is currently in the top 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Agilent Technologies (A), has yet to report results for the quarter ended October 2023. The results are expected to be released on November 20.
This scientific instrument maker is expected to post quarterly earnings of $1.34 per share in its upcoming report, which represents a year-over-year change of -12.4%. The consensus EPS estimate for the quarter has been revised 0.3% lower over the last 30 days to the current level.
Agilent Technologies' revenues are expected to be $1.67 billion, down 9.7% from the year-ago quarter.
5 Stocks Set to Double
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AMETEK, Inc. (AME) : Free Stock Analysis Report
Agilent Technologies, Inc. (A) : Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-10-30 00:00:00+00:00
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Oversold Conditions For Agilent Technologies (A)
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Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In trading on Monday, shares of Agilent Technologies, Inc. (Symbol: A) entered into oversold territory, hitting an RSI reading of 25.5, after changing hands as low as $96.80 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 30.8. A bullish investor could look at A's 25.5 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of A shares:
Looking at the chart above, A's low point in its 52 week range is $96.80 per share, with $160.265 as the 52 week high point — that compares with a last trade of $98.86.
Find out what 9 other oversold stocks you need to know about »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-10-24 00:00:00+00:00
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A Quantitative Stock Analysis
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Below is Validea's guru fundamental report for AGILENT TECHNOLOGIES INC (A). Of the 22 guru strategies we follow, A rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
AGILENT TECHNOLOGIES INC (A) is a large-cap growth stock in the Scientific & Technical Instr. industry. The rating using this strategy is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
BOOK/MARKET RATIO: PASS
RETURN ON ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS VS. RETURN ON ASSETS: PASS
RETURN ON ASSETS VARIANCE: PASS
SALES VARIANCE: PASS
ADVERTISING TO ASSETS: FAIL
CAPITAL EXPENDITURES TO ASSETS: PASS
RESEARCH AND DEVELOPMENT TO ASSETS: FAIL
Detailed Analysis of AGILENT TECHNOLOGIES INC
A Guru Analysis
A Fundamental Analysis
More Information on Partha Mohanram
Partha Mohanram Portfolio
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
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About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-10-24 00:00:00+00:00
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Danaher beats profit estimates on respiratory testing demand
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Oct 24 (Reuters) - Danaher DHR.N on Tuesday beat Wall Street estimates for third-quarter profit as strong demand for its diagnostic tests for respiratory diseases helped soften the blow from weaker sales at the healthcare conglomerate's life-sciences unit.
The diagnostics unit, which makes kits, also used for COVID-19 testing, as well as reagents and other tools, reported sales of $2.25 billion, beating the average analyst estimate of $2.12 billion, according to LSEG data.
However, the life sciences unit, which provides reagents and lab equipment used in the discovery of new drugs and vaccines, posted sales of $1.71 billion, missing estimates of $1.78 billion.
"Revenue in the third quarter came in ahead of our expectations, with Biotechnology performing as anticipated, and higher respiratory testing revenue more than offsetting slightly softer-than-anticipated demand in Life Sciences," Danaher CEO Rainer Blair said in a statement.
Shares of the Washington D.C.-based company rose 1.2% to $206.50 before the bell.
Danaher now expects a slight decline in adjusted core sales for the year, compared with its previous expectation of a low single-digit rise.
Life sciences companies such as Danaher, Agilent A.N and Thermo Fisher TMO.N cut their annual profit forecasts earlier this year as some clients slashed their budgets for biopharma services due to a funding crunch.
Rising interest rates squeezed funding needed for drug development programs, weighing on demand for contract research services offered by Danaher and rival Thermo Fisher.
Danaher's forecast excludes the impact of the spinoff of its Environmental & Applied Solutions unit, Veralto VLTO.N, which began trading on Oct. 2.
On an adjusted basis, Danaher reported a profit per share of $2.02, beating analysts' expectations of $1.87.
Third-quarter sales of $6.87 billion also topped estimates of $6.63 billion.
(Reporting by Christy Santhosh; Editing by Krishna Chandra Eluri and Sriraj Kalluvila)
((Christy.Santhosh@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-10-19 00:00:00+00:00
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December 15th Options Now Available For Agilent Technologies (A)
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Investors in Agilent Technologies, Inc. (Symbol: A) saw new options become available today, for the December 15th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the A options chain for the new December 15th contracts and identified one put and one call contract of particular interest.
The put contract at the $105.00 strike price has a current bid of $2.75. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $105.00, but will also collect the premium, putting the cost basis of the shares at $102.25 (before broker commissions). To an investor already interested in purchasing shares of A, that could represent an attractive alternative to paying $109.28/share today.
Because the $105.00 strike represents an approximate 4% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 2.62% return on the cash commitment, or 16.76% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Agilent Technologies, Inc., and highlighting in green where the $105.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $110.00 strike price has a current bid of $4.50. If an investor was to purchase shares of A stock at the current price level of $109.28/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $110.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 4.78% if the stock gets called away at the December 15th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if A shares really soar, which is why looking at the trailing twelve month trading history for Agilent Technologies, Inc., as well as studying the business fundamentals becomes important. Below is a chart showing A's trailing twelve month trading history, with the $110.00 strike highlighted in red:
Considering the fact that the $110.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 4.12% boost of extra return to the investor, or 26.35% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $109.28) to be 27%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-10-17 00:00:00+00:00
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Carl Icahn sues Illumina board for violating 'fiduciary duties'
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Changes source in headline, recasts paragraph 1, adds background in paragraphs 4-6
Oct 17 (Reuters) - Activist-investor Carl Icahn sued the board of directors at genetic testing company Illumina ILMN.O and accused them of breaching their fiduciary duties, according to a sealed copy of the complaint on Tuesday.
The publicly available version of the complaint did not contain further details, but Icahn told the 13D investor conference in New York on Tuesday that the lawsuit pertained to Illumina completing its acquisition of cancer detection test maker Grail.
Illumina said it is reviewing the complaint, while Icahn and Grail did not immediately respond to Reuters requests for a comment.
The gene-sequencing machine maker had repurchased Grail in 2021 despite opposition from U.S. and European antitrust regulators - a decision that prompted Icahn to pursue a proxy fight at Illumina, arguing Grail should be divested as it had cost investors billions of dollars.
Last week, Illumina said it would divest cancer test maker Grail in 12 months according to the terms of the European Commission's order, if the life sciences company does not win its challenge in court.
(Reporting by Mrinmay Dey and Shivani Tanna in Bengaluru; Editing by Sherry Jacob-Phillips)
((Mrinmay.Dey@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-10-10 00:00:00+00:00
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Agilent (A) Bolsters NTD Research With SIDC Partnership
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Agilent Technologies A signed a Memorandum of Understanding with the Sarawak Infectious Disease Centre (SIDC) to provide its 6475 triple quadrupole LC/MS system for neglected tropical diseases (NTD) research.
Notably, Agilent's 6475 LC/MS, which utilizes iFunnel technologies, will aid SIDC's research on tropical medicines and infectious diseases, enabling rapid outbreak response through extensive research and diagnostic capabilities.
Further, the 6475 LC/MS system enhances signal response and optimizes research outcomes through technology and knowledge transfer, capacity building, research programs and human capital development.
SIDC plans to use Agilent's capabilities as it prepares for facility completion by December 2025.
We note that the latest move has expanded the customer base of Agilent’s liquid chromatography mass spectrometry (LC/MS) systems. This, in turn, will strengthen Agilent’s Life Sciences & Applied Markets Group (LSAG) segment.
Moreover, the deal will also strengthen Agilent’s footprint in Asian markets.
Agilent Technologies, Inc. Price and Consensus
Agilent Technologies, Inc. price-consensus-chart | Agilent Technologies, Inc. Quote
Growth Prospects
We believe that the latest move will strengthen the company’s footing in the global neglected tropical diseases diagnosis market.
Per an MMR research report, the global NTD diagnosis market size is expected to reach $8.97 billion by 2029, exhibiting a CAGR of 4.5% between 2022 and 2029.
A Grand View Research report predicts the global NTD diagnosis market size to witness a CAGR of 4.5% during the forecast period of 2023-2030.
We believe the company’s solid prospects in the promising NTD diagnosis market are expected to instill investor optimism in the stock.
However, it has been suffering from macroeconomic uncertainties, weak momentum in China, rising inflationary pressure and geo-political tensions.
Agilent has lost 25.6% in the year-to-date period, underperforming the industry’s growth of 0.8%.
LSAG Segment in Focus
The latest move is in sync with the company’s growing efforts toward bolstering its LSAG segment.
Apart from the latest move, Agilent Technologies showcased its expanded InfinityLab GPC/SEC Solution at the HPLC Conference 2023 in Düsseldorf. The solution includes a dedicated column thermostat, multi-angle light scattering detector, GPC/SEC-Ready Kit, and WinGPC Software for advanced material characterization.
Additionally, Agilent's 1260 Infinity II Hybrid Multisampler, 1290 Infinity II Bio Online Sample Manager and Revident Quadrupole Time-of-Flight LC/MS System were also displayed at the HPLC 2023 conference.
Further, Agilent Technologies introduced new liquid chromatography mass spectrometry systems, Agilent 6495D LC/TQ and Revident LC/Q-TOF, along with new software for profiling and library management, ensuring high analytical sensitivity and efficiency for fast, high-quality data and early maintenance feedback for optimal performance.
Also, Agilent launched the Agilent 8697 Headspace Sampler -XL Tray, offering 120 vial capacity and enhanced instrument intelligence features for increased uptime and operator ease of use compared to its predecessor.
All these endeavors are likely to aid the performance of the LSAG segment in the days ahead.
However, the sluggish pharma market continues to remain a concern.
Our model estimate for LSAG revenues for fiscal 2023 is pegged at $3.85 billion, indicating a decline of 3.9% from the fiscal 2022 level.
Zacks Rank & Stocks to Consider
Currently, Agilent carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the broader technology sector are Asure Software ASUR, Applied Materials AMAT and Arista Networks ANET. While Asure Software and Applied Materials sport a Zacks Rank #1 (Strong Buy) each, Arista Networks carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Asure Software shares have lost 2% in the year-to-date period. ASUR’s long-term earnings growth rate is currently projected at 27%.
Applied Materials shares have gained 43.9% in the year-to-date period. AMAT’s long-term earnings growth rate is currently projected at 6.10%.
Arista Networks shares have gained 61.8% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 18.75%
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Agilent Technologies, Inc. (A) : Free Stock Analysis Report
Applied Materials, Inc. (AMAT) : Free Stock Analysis Report
Asure Software Inc (ASUR) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-10-05 00:00:00+00:00
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Q4 Stock Predictions: 3 S&P 500 Stocks Ready to Soar
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Stocks ended the third quarter on a sour note. The Federal Reserve’s aggressive posture against inflation combined with soaring interest rates have investors taking defensive measures.
But it’s not time to give up on the stock market. In fact, thanks to the recent selling, bargains are springing up across many S&P 500 stocks.
Let’s examine three that will benefit from current market conditions and rally heading into 2024.
Wells Fargo (WFC)
Source: Ken Wolter / Shutterstock.com
Wells Fargo (NYSE:WFC) is one of the big banks that is thriving amid the industry’s correction. That’s because Wells Fargo did not aggressively expand its balance sheet or buy overvalued securities over the past few years.
True, investors have shunned nearly all financials stocks this year amid unprecedented volatility in the interest rate markets. Banks that were positioned poorly, like First Republic and Silicon Valley, ended up going bust. And others are suffering from falling profitability and strained balance sheets at the present time.
Meanwhile, Wells Fargo has positioned its balance sheet to earn far more profits as interest rates rise. And those rates are normally beneficial to the banking sector as a whole. For firms like Wells Fargo that managed their risks and exposures properly, that remains true in 2023.
Specifically, Wells Fargo’s net interest margin (NIM), the spread between its loan interest and deposit payments, has soared from 2.2% in Q2 of last year to 3.1% today. With a near 50% jump in core profitability on its loan book, it’s no wonder that Wells Fargo is reporting rising earnings. WFC stock hasn’t yet snapped out of the industrywide doldrums. As a result, shares go for just eight times forward earnings today.
Charles River Laboratories (CRL)
Source: IgorGolovniov / Shutterstock.com
Charles River Laboratories (NYSE:CRL) is a leading healthcare company focused on providing lab tools and services related to pharmaceutical drug development.
Historically, it’s been the dominant player in animal models. Specifically, Charles River procures, breeds, and distributes lab rats, mice, rabbits, and non-human primates. The last one got Charles River in trouble, as the company was implicated in an investigation into alleged macaque smuggling in Cambodia. However, as of last quarter, Charles River has been able to resolve its sourcing issues around non-human primates.
More broadly, CRL stock has slumped amid the slowdown in the biotech industry. With smaller biotech companies struggling to obtain funding, Charles River is experiencing less trials and revenue-generating business. Yet, it’s only a matter of time until biotech funding rises again, given the priority to find cures for rare diseases.
CRL will inevitably be part of those future cures. In fact, the company was involved in developing more than 80% of all drugs that received FDA approval since 2020. In effect, Charles River is a tax on the entire biotech industry, with their consistent postings of compounded earnings per share growth rate in the teens since the turn of the century.
Thanks to the recent scandal and biotech industry’s slump, CRL shares are now on sale at an unusually low 18 times forward earnings.
Keysight Technologies (KEYS)
Source: Funtap / Shutterstock.com
Keysight Technologies (NYSE:KEYS) is a company that provides testing, product quality, and design solutions to technology companies. The firm has an interesting history.
Keysight sprung up originally as Hewlett-Packard‘s Test & Measurement division more than half a century ago, and was ultimately spun off from Agilent (NYSE:A) into its own publicly-traded entity in 2014.
KEYS stock has been incredibly successful over the past decade. Since 2014, shares jumped from $30 to a peak of more than $200. However, Keysight has fallen amid a slowdown in telecom and information technology spending over the past year. That has led KEYS stock to slide back to around $130 today.
The weakness makes sense, as Keysight is heavily involved in quality control and testing for telecom companies. With 5G rollouts seeing an underwhelming debut as compared to expectations, that has cast a shadow on industry vendors. Other Keysight segments such as services for edge computing and RFID functions have slipped as demand levels off following an unusually robust 2021 and 2022.
Indeed, the market is blowing the situation way out of proportion. KEYS stock is down to 16 times forward earnings, which is quite the discount for a tech company that has reliably posted double-digit earnings growth. It’s only a matter of time until telecom spending picks back up given the ever-growing demand for mobile data.
Also, Keysight is active in emerging growth fields such as AI and next-generation semiconductors. Investors should take advantage of the current dip in KEYS stock.
On the date of publication, Ian Bezek held a long position in KEYS, CRL, and WFC stock. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-09-29 00:00:00+00:00
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Barclays Maintains Agilent Technologies (A) Underweight Recommendation
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Fintel reports that on September 29, 2023, Barclays maintained coverage of Agilent Technologies (NYSE:A) with a Underweight recommendation.
Analyst Price Forecast Suggests 26.87% Upside
As of August 31, 2023, the average one-year price target for Agilent Technologies is 142.10. The forecasts range from a low of 111.10 to a high of $171.15. The average price target represents an increase of 26.87% from its latest reported closing price of 112.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Agilent Technologies is 7,130MM, an increase of 1.94%. The projected annual non-GAAP EPS is 5.77.
What is the Fund Sentiment?
There are 1926 funds or institutions reporting positions in Agilent Technologies. This is a decrease of 104 owner(s) or 5.12% in the last quarter. Average portfolio weight of all funds dedicated to A is 0.31%, a decrease of 19.13%. Total shares owned by institutions decreased in the last three months by 1.89% to 296,536K shares.
The put/call ratio of A is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
Massachusetts Financial Services holds 11,037K shares representing 3.77% ownership of the company. In it's prior filing, the firm reported owning 8,907K shares, representing an increase of 19.30%. The firm increased its portfolio allocation in A by 3.73% over the last quarter.
T. Rowe Price Investment Management holds 9,968K shares representing 3.41% ownership of the company. In it's prior filing, the firm reported owning 9,277K shares, representing an increase of 6.93%. The firm decreased its portfolio allocation in A by 11.26% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 9,177K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 9,160K shares, representing an increase of 0.18%. The firm decreased its portfolio allocation in A by 19.66% over the last quarter.
Wellington Management Group Llp holds 8,736K shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 12,057K shares, representing a decrease of 38.01%. The firm decreased its portfolio allocation in A by 39.89% over the last quarter.
Price T Rowe Associates holds 8,054K shares representing 2.75% ownership of the company. In it's prior filing, the firm reported owning 8,219K shares, representing a decrease of 2.05%. The firm increased its portfolio allocation in A by 78.88% over the last quarter.
Agilent Technologies Background Information
(This description is provided by the company.)
Agilent Technologies Inc. is a global leader in life sciences, diagnostics, and applied chemical markets, delivering insight and innovation toward improving the quality of life. Agilent instruments, software, services, solutions, and people provide trusted answers to customers' most challenging questions. The company generated revenue of $5.34 billion in fiscal year 2020 and employs 16,400 people worldwide.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-09-28 00:00:00+00:00
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A
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Ex-Dividend Reminder: Upbound Group, Cardinal Health and Agilent Technologies
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Looking at the universe of stocks we cover at Dividend Channel, on 10/2/23, Upbound Group Inc (Symbol: UPBD), Cardinal Health, Inc. (Symbol: CAH), and Agilent Technologies, Inc. (Symbol: A) will all trade ex-dividend for their respective upcoming dividends. Upbound Group Inc will pay its quarterly dividend of $0.34 on 10/24/23, Cardinal Health, Inc. will pay its quarterly dividend of $0.5006 on 10/15/23, and Agilent Technologies, Inc. will pay its quarterly dividend of $0.225 on 10/25/23. As a percentage of UPBD's recent stock price of $29.70, this dividend works out to approximately 1.14%, so look for shares of Upbound Group Inc to trade 1.14% lower — all else being equal — when UPBD shares open for trading on 10/2/23. Similarly, investors should look for CAH to open 0.57% lower in price and for A to open 0.20% lower, all else being equal.
Below are dividend history charts for UPBD, CAH, and A, showing historical dividends prior to the most recent ones declared.
Upbound Group Inc (Symbol: UPBD):
Cardinal Health, Inc. (Symbol: CAH):
Agilent Technologies, Inc. (Symbol: A):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 4.58% for Upbound Group Inc, 2.27% for Cardinal Health, Inc., and 0.81% for Agilent Technologies, Inc..
Free Report: Top 8%+ Dividends (paid monthly)
In Thursday trading, Upbound Group Inc shares are currently up about 0.9%, Cardinal Health, Inc. shares are up about 0.3%, and Agilent Technologies, Inc. shares are up about 0.3% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-09-25 00:00:00+00:00
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A
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After Hours Most Active for Sep 25, 2023 : OKE, APO^A, ET, XPEV, BAC, FINV, MCHI, ARM, CSCO, CMCSA, QQQ, AAPL
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The NASDAQ 100 After Hours Indicator is up 13.01 to 14,781.91. The total After hours volume is currently 63,813,936 shares traded.
The following are the most active stocks for the after hours session:
ONEOK, Inc. (OKE) is +0.01 at $66.55, with 19,749,458 shares traded. OKE's current last sale is 91.16% of the target price of $73.
Apollo Global Management, Inc. (APO^A) is unchanged at $56.25, with 3,816,895 shares traded.
Energy Transfer L.P. (ET) is -0.02 at $13.99, with 3,668,019 shares traded. ET's current last sale is 82.29% of the target price of $17.
XPeng Inc. (XPEV) is +0.11 at $16.80, with 3,072,662 shares traded. XPEV's current last sale is 98.53% of the target price of $17.05.
Bank of America Corporation (BAC) is +0.01 at $27.61, with 1,936,137 shares traded. BAC's current last sale is 78.89% of the target price of $35.
FinVolution Group (FINV) is unchanged at $5.00, with 1,855,555 shares traded. As reported by Zacks, the current mean recommendation for FINV is in the "strong buy range".
iShares MSCI China ETF (MCHI) is -0.0345 at $43.38, with 1,662,357 shares traded. This represents a 23.86% increase from its 52 Week Low.
Arm Holdings plc (ARM) is -0.14 at $54.30, with 1,625,772 shares traded. ARM's current last sale is 118.04% of the target price of $46.
Cisco Systems, Inc. (CSCO) is unchanged at $53.48, with 1,352,499 shares traded. CSCO's current last sale is 92.21% of the target price of $58.
Comcast Corporation (CMCSA) is unchanged at $44.87, with 1,323,937 shares traded. As reported by Zacks, the current mean recommendation for CMCSA is in the "buy range".
Invesco QQQ Trust, Series 1 (QQQ) is +0.35 at $359.96, with 1,301,962 shares traded. This represents a 41.57% increase from its 52 Week Low.
Apple Inc. (AAPL) is +0.12 at $176.20, with 1,151,926 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2024. The consensus EPS forecast is $1.56. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-09-21 00:00:00+00:00
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A
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Daily Dividend Report: CLX,CVX,A,SBUX,AMT
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Clorox announced today that its board of directors has declared a quarterly dividend of $1.20 per share on the company's common stock. The dividend is payable Nov. 9, 2023, to shareholders of record as of the close of business on Oct. 25, 2023.
CVS Health has announced that its board of directors has approved a quarterly dividend of sixty and a half cents per share on the Common Stock. The dividend is payable on November 1, 2023, to holders of record on October 20, 2023.
Agilent Technologies, today announced that a quarterly dividend of 22.5 cents per share of common stock will be paid on Oct. 25, 2023, to all shareholders of record as of the close of business on Oct. 3, 2023.
Starbucks today announced that its Board of Directors approved an increase in the company's quarterly cash dividend from $0.53 to $0.57 per share of outstanding Common Stock. This increase will be effective with the dividend payable on November 24, 2023, to shareholders of record on November 10, 2023, and raises the company's annual dividend rate to $2.28 per share. Starbucks initiated its dividend in 2010 at $0.05 per share of outstanding Common Stock, and increased its dividend consecutively each year over the past 13 years at a CAGR of approximately 20%.
American Tower today announced that its board of directors has declared its quarterly cash distribution of $1.62 per share on shares of the Company's common stock. The distribution is payable on October 27, 2023 to the stockholders of record at the close of business on October 11, 2023.
VIDEO: Daily Dividend Report: CLX,CVX,A,SBUX,AMT
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-09-21 00:00:00+00:00
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A
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Agilent Technologies is Now Oversold (A)
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Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In trading on Thursday, shares of Agilent Technologies, Inc. (Symbol: A) entered into oversold territory, hitting an RSI reading of 26.2, after changing hands as low as $109.905 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 33.9. A bullish investor could look at A's 26.2 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of A shares:
Looking at the chart above, A's low point in its 52 week range is $109 per share, with $160.265 as the 52 week high point — that compares with a last trade of $110.56.
Find out what 9 other oversold stocks you need to know about »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-09-20 00:00:00+00:00
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A
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Agilent (A) Boosts Genomic Profiling With New Collaboration
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Agilent Technologies A has entered into a research agreement with the National Cancer Centre Singapore, to bring advancement in Singapore’s genomic profiling on Asian-prevalent cancers.
The research focuses on improving tumor genome characterization and utilizing this data in patient care to enhance clinical trials, oncology diagnostics and treatment decisions.
Notably, this collaboration involves the provision of the Agilent Magnis NGS Preparation System, which is used to study details specific to Asian cancer cohorts where tissue samples are limited.
This, in turn, will simplify gene assays and complex genetic aberrations for reproducible results.
We believe that the latest agreement will accelerate the development of next-generation diagnostic tools to improve patient care.
Moreover, the deal will also strengthen Agilent’s footprint in Asian markets.
Agilent Technologies, Inc. Price and Consensus
Agilent Technologies, Inc. price-consensus-chart | Agilent Technologies, Inc. Quote
Growth Prospects
The latest partnership is in sync with the company’s efforts to strengthen its footprint in the global genomics market.
Per a Towards Healthcare report, the global genomics market is expected to reach $127.16 billion by 2032, witnessing a CAGR of 16.1% between 2023 and 2032.
A Grand View Research report predicts the global genomics market to witness a CAGR of 16.5% during the period of 2023-2030.
We believe the company’s solid prospects in the promising genomics market are expected to instill investor optimism in the stock.
Agilent has lost 25% in the year-to-date period against the industry’s growth of 1.7%.
Notably, the company has been suffering from macroeconomic uncertainties, weak momentum in China, rising inflationary pressure and geo-political tensions.
DGG Segment in Focus
The latest move bodes well for the company’s growing efforts toward bolstering its Diagnostics and Genomics Group (DGG) segment.
Recently, Agilent released the enhanced xCELLigence RTCA Software Pro Version 2.8, a software package for real-time cell analysis in GMP-regulated facilities, ensuring data authenticity and compliance.
Further, it launched the Agilent SureSelect Cancer CGP Assay, a pan-cancer assay designed for somatic variant profiling of solid tumor types, utilizing an NGS panel of 679 genes.
We note that the abovementioned endeavors will likely act as a catalyst for its customer base expansion.
Notably, Agilent signed a Memorandum of Understanding with Advanced Cell Therapy and Research Institute, Singapore to install and operate its xCELLigence real-time cell analyzer, aiming to advance cell and gene therapy over the next three years
The company also partnered with Theragen Bio to improve precision oncology in South Korea through advanced bioinformatic solutions, leveraging their combined expertise in cancer genomic profiling design and software knowledge.
All these endeavors are likely to aid the performance of the DGG segment in the days ahead.
For third-quarter fiscal 2023, revenues in the underlined segment increased 3% from the prior-year fiscal quarter’s figure on a reported, as well as a core basis to $349 million.
Our model estimate for DGG revenues for fiscal 2023 is pegged at $1.41 billion, indicating growth of 1.5% from the 2022 level. The same for fiscal 2024 and fiscal 2025 stands at $1.48 billion and $1.58 billion, reflecting year-over-year growth of 5% and 7%, respectively.
Zacks Rank & Stocks to Consider
Currently, Agilent carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader technology sector are Asure Software ASUR, Arista Networks ANET and Applied Materials AMAT. While Asure Software sports a Zacks Rank #1 (Strong Buy), Arista Networks and Applied Materials carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Asure Software shares have lost 5.2% in the year-to-date period. ASUR’s long-term earnings growth rate is currently projected at 27%.
Arista Networks shares have gained 52.3% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 18.75%
Applied Materials shares have gained 41.4% in the year-to-date period. AMAT’s long-term earnings growth rate is currently projected at 6.10%.
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Agilent Technologies, Inc. (A) : Free Stock Analysis Report
Applied Materials, Inc. (AMAT) : Free Stock Analysis Report
Asure Software Inc (ASUR) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-09-15 00:00:00+00:00
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A
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Notable Friday Option Activity: PRGS, POOL, A
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Progress Software Corp (Symbol: PRGS), where a total of 1,216 contracts have traded so far, representing approximately 121,600 underlying shares. That amounts to about 53.8% of PRGS's average daily trading volume over the past month of 226,140 shares. Particularly high volume was seen for the $50 strike put option expiring October 20, 2023, with 502 contracts trading so far today, representing approximately 50,200 underlying shares of PRGS. Below is a chart showing PRGS's trailing twelve month trading history, with the $50 strike highlighted in orange:
Pool Corp (Symbol: POOL) saw options trading volume of 1,502 contracts, representing approximately 150,200 underlying shares or approximately 53.3% of POOL's average daily trading volume over the past month, of 282,025 shares. Especially high volume was seen for the $360 strike put option expiring September 15, 2023, with 501 contracts trading so far today, representing approximately 50,100 underlying shares of POOL. Below is a chart showing POOL's trailing twelve month trading history, with the $360 strike highlighted in orange:
And Agilent Technologies, Inc. (Symbol: A) saw options trading volume of 8,847 contracts, representing approximately 884,700 underlying shares or approximately 52.8% of A's average daily trading volume over the past month, of 1.7 million shares. Particularly high volume was seen for the $130 strike call option expiring October 20, 2023, with 1,666 contracts trading so far today, representing approximately 166,600 underlying shares of A. Below is a chart showing A's trailing twelve month trading history, with the $130 strike highlighted in orange:
For the various different available expirations for PRGS options, POOL options, or A options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-09-15 00:00:00+00:00
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Friday Sector Leaders: Utilities, Healthcare
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Looking at the sectors faring best as of midday Friday, shares of Utilities companies are outperforming other sectors, not showing much of a loss. Within the sector, DTE Energy Co (Symbol: DTE) and CenterPoint Energy, Inc (Symbol: CNP) are two of the day's stand-outs, showing a gain of 0.8% and 0.8%, respectively. Among utilities ETFs, one ETF following the sector is the Utilities Select Sector SPDR ETF (Symbol: XLU), which is down 0.1% on the day, and down 6.10% year-to-date. DTE Energy Co, meanwhile, is down 7.89% year-to-date, and CenterPoint Energy, Inc is up 0.76% year-to-date. Combined, DTE and CNP make up approximately 4.3% of the underlying holdings of XLU.
The next best performing sector is the Healthcare sector, losing just 0.3%. Among large Healthcare stocks, Waters Corp. (Symbol: WAT) and Agilent Technologies, Inc. (Symbol: A) are the most notable, showing a gain of 2.3% and 2.0%, respectively. One ETF closely tracking Healthcare stocks is the Health Care Select Sector SPDR ETF (XLV), which is down 0.5% in midday trading, and down 1.36% on a year-to-date basis. Waters Corp., meanwhile, is down 19.49% year-to-date, and Agilent Technologies, Inc., is down 21.61% year-to-date. Combined, WAT and A make up approximately 1.0% of the underlying holdings of XLV.
Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom:
Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Friday. As you can see, none of the sectors are up on the day, while eight sectors are down.
SECTOR % CHANGE
Utilities -0.0%
Healthcare -0.3%
Consumer Products -0.4%
Financial -0.5%
Industrial -0.6%
Materials -0.9%
Services -1.0%
Energy -1.4%
Technology & Communications -1.5%
25 Dividend Giants Widely Held By ETFs »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-09-14 00:00:00+00:00
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Agilent (A) Down 6.5% Since Last Earnings Report: Can It Rebound?
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A month has gone by since the last earnings report for Agilent Technologies (A). Shares have lost about 6.5% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Agilent due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Agilent Q3 Earnings Beat Estimates
Agilent Technologies delivered third-quarter fiscal 2023 earnings of $1.43 per share, which beat the Zacks Consensus Estimate by 4.4%. The bottom line increased by 7% from the year-ago fiscal quarter’s level.
Revenues of $1.67 billion surpassed the Zacks Consensus Estimate of $1.66 billion. However, the top line was down 2.7% on a reported basis and 2.3% on a core basis from the respective year-ago fiscal quarter’s levels.
The decline was attributed to sluggishness in Chemistry & Advanced Materials and Pharma & Biopharma markets due to weak momentum in China.
Nevertheless, growth in Academia & Gov’t, Food, Environmental & Forensics and Diagnostics and Clinical markets remained a positive.
Segmental Top Line Details
Agilent has three reporting segments, namely, Life Sciences & Applied Markets Group (LSAG), Agilent Cross Lab Group (ACG) and Diagnostics and Genomics Group (DGG).
LSAG: The segment accounted for $927 million or 55% of its total revenues, down 9% on a reported as well as on a core basis from the respective prior-year fiscal quarter’s levels. This was due to macroeconomic uncertainties, soft market conditions in China and a sluggish pharma market. The reported figure came below the Zacks Consensus Estimate of $929 million.
ACG: Revenues from the segment were $396 million, accounting for 24% of total revenues. The figure surpassed the consensus mark of $377 million. The top line improved by 10% from the prior-year fiscal quarter’s reading on a reported basis and by 11% on a core basis, demonstrating solid momentum across all regions and end markets. A strong demand for the company’s services was a positive.
DGG: Revenues increased 3% from the prior-year fiscal quarter’s figure on a reported as well as a core basis to $349 million, accounting for the remaining 21% of total revenues. The figure came slightly below the consensus mark of $3508 million. Segmental growth was attributed to strength in the NASD business. A solid demand for diagnostic tests contributed well to the company’s pathology business.
However, weakness in genomics and Resolution Bioscience businesses was a negative.
Operating Results
For the fiscal third quarter, gross margin in the LSAG segment contracted by 50 basis points (bps) to 29.9% from the prior-year fiscal quarter’s number. ACG’s gross margin expanded by 390 bps to 50.9%. DGG’s gross margin contracted by 180 bps from the year-ago fiscal quarter’s actuals to 52.2%.
Research & development (R&D) costs were $118 million, up 1.7% from the prior-year fiscal quarter’s number. Selling, general & administrative (SG&A) expenses were $407 million, down 1.2% from the year-earlier fiscal quarter’s figure. As a percentage of revenues, R&D expenses expanded by 35 bps year over year to 7.05%. SG&A expenses expanded by 40 bps year over year to 24.3%.
Operating margin for the fiscal third quarter was 7.9%, which declined significantly from 23.9% in the year-earlier fiscal quarter’s figure.
Segment-wise, the operating margin for LSAG was down 60 bps from the year-earlier fiscal quarter’s level of 29.9%. ACG’s operating margin was 32.7%, up 810 bps from the year-ago fiscal quarter’s level. DGG segment’s operating margin expanded 250 bps to 24% from the year-ago fiscal quarter’s figure.
Balance Sheet & Cash Flow
As of Jul 31, 2023, Agilent’s cash and cash equivalents were $1.33 billion, up from $1.18 billion on Apr 30, 2023.
Accounts receivables were $1.3 billion at the end of third-quarter fiscal 2023, down from $1.4 billion at the end of second-quarter fiscal 2023.
Long-term debt was $2.734 billion for the reported quarter compared with $2.733 billion in the prior fiscal quarter.
Agilent generated $562 million in cash from operations during the reported quarter, up from $398 million generated in the previous quarter.
It returned $401 million to shareholders, out of which dividend payments accounted for $66 million and share repurchases accounted for the remaining $335 million.
Guidance
For the fiscal fourth quarter of 2023, management expects revenues of $1.655-$1.705 billion, suggesting a decline between 12.2% and 9.5% on a core basis from the year-ago fiscal quarter’s actuals.
Non-GAAP earnings per share are expected to be $1.33-$1.36.
For fiscal 2023, management lowered its revenue guidance to the band of $6.80-$6.85 billion from $6.93-7.03 billion, implying growth of 0.8-1.5% on a core basis from the respective fiscal 2022 figures.
Management also lowered the guidance for fiscal 2023 non-GAAP earnings per share downward from $5.60-$5.65 to $5.40-5.43.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended downward during the past month.
The consensus estimate has shifted -16.1% due to these changes.
VGM Scores
At this time, Agilent has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Agilent has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
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Agilent Technologies, Inc. (A) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-09-12 00:00:00+00:00
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A
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Agilent To Sell Resolution Bioscience To Exact Sciences For Undisclosed Sum
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(RTTNews) - Agilent Technologies, Inc. (A) and Exact Sciences Corp. (EXAS) said on Tuesday that they have inked a deal for the sale of Resolution Bioscience to Exact Sciences., for an undisclosed sum.
Resolution Bioscience is a developer of next-generation sequencing-based precision oncology solutions.
Sam Raha, Senior Vice President at Agilent, said: "Exact is a leading centralized laboratory for advanced cancer diagnostic testing with significant capabilities and resources in this area, which makes Resolution Bioscience a strategic fit for them. This agreement will enable the talented Resolution Bioscience team to continue their work advancing diagnostic solutions for their customers and patients, a very positive outcome of this transaction."
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-09-05 00:00:00+00:00
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Illumina names Agilent exec Jacob Thaysen as CEO
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Adds background in paragraphs 2-3
Sept 5 (Reuters) - Illumina Inc ILMN.O said on Tuesday its board has named Agilent Technologies' A.N executive Jacob Thaysen as the U.S. genetic testing company's CEO.
Thaysen would replace Charles Dadswell, who has been serving as Illumina's interim CEO since June.
The appointment comes months after Illumina's former CEO Francis deSouza stepped down, marking a victory for activist investor Carl Icahn.
Thaysen's appointment would become effective Sept. 25.
(Reporting by Manas Mishra and Bhanvi Satija in Bengaluru; Editing by Shilpi Majumdar)
((Manas.Mishra@thomsonreuters.com; www.twitter.com/Manaswrites15;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-09-01 00:00:00+00:00
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A
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Do Options Traders Know Something About Agilent (A) Stock We Don't?
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Investors in Agilent Technologies, Inc. A need to pay close attention to the stock based on moves in the options market lately. That is because the Jan 19, 2024 $65.00 Call had some of the highest implied volatility of all equity options today.
What is Implied Volatility?
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?
Clearly, options traders are pricing in a big move for Agilent shares, but what is the fundamental picture for the company? Currently, Agilent is a Zacks Rank #4 (Sell) in the Electronics - Testing Equipment industry that ranks in the Bottom 30% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while six analysts have revised their estimates downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from $1.61 per share to $1.35 in that period.
Given the way analysts feel about Agilent right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
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Agilent Technologies, Inc. (A) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-08-31 00:00:00+00:00
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Building Wealth with Spinoffs: How Adding These Gems Can Transform Your Portfolio
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Imagine discovering a treasure map that leads to the chest containing the loot. Consider that the investment world has its own version of these concealed treasures: Spinoffs. These financial treasures have the potential to reshape your entire investment voyage, not just enhance your portfolio. The catch? You must look for them and do some work. A tough ask, I know.
What is A Spinoff?
In a Spinoff, a parent company separates one of its business entities or divisions into a standalone, independent company. By distributing shares of the spun-off company to the current proprietors of the parent, two separate publicly listed entities are created. The new enterprise that emerges because of a Spinoff is often referred to as a "Spinoff company." Spinoffs can increase shareholder value by allowing distinct companies to focus on their core competencies and releasing hidden value in specific business divisions. In addition, it offers investors the option to invest in various companies based on their investment preferences and risk tolerance. Or, alternatively, eradicate them.
The media frequently gets it wrong when speaking about Spinoffs. This is a very important point to remember. A ‘true’ Spinoff only happens when a share of a division is distributed amongst existing shareholders that own the parent company. Contrary to the media, IPOs, Divestitures, carve-outs, split-offs, and split-ups are not Spinoffs and consequently, these transactions lose many of the value creating dynamics of the Spinoff corporate action. Cross-reference information from various trustworthy sources, particularly official business communication. To fully comprehend the Spinoff and its ramifications, investors should also look for information from reliable financial analysts, subject-matter experts, and formal regulatory filings, such as those with the Securities and Exchange Commission (SEC).
Do Spinoffs Outperform?
The “Spinoff” is an essentially inefficient method for distributing stock to the incorrect individuals. You receive shares whether you desire them or not. Typically, investors acquire these shares by default and sell them on the open market almost immediately, making them inexpensive companies that no one is interested in. They are occasionally referred to as "orphan securities." At this point, X marks the location, and digging should commence.
Why the dynamics of Spinoffs make it an essential area for an investor to analyze:
Studies have shown that Spinoffs have historically beaten the market by over 10 percent as the pure, newly focused business takes off.
Compensation for executives can be more closely correlated with business performance. The company will become smaller, which will increase the executives' motivation and sense of ownership.
Separating companies allows each entity to be properly valued and can sometimes unlock a “conglomerate discount."
Due to the likelihood that the company would be small and lack a roadshow, it is under-followed. As a result, there are more chances for investors to discover returns greater than the index.
The Edge Consulting Groups 20 year study shows that Spinoffs are likely to be taken over. Roughly 35 percent are acquired around the two-year mark post-Spinoff.
Typically, there are hundreds of Spinoff situations a year. Around 40 have over $1 billion in market cap. This is a sweet spot where liquidity and “real” companies come together in my opinion.
5 Reasons Why You Should Be Looking For These Situations
Including Spinoffs in your investment portfolio can provide a variety of benefits, including diversification, undervalued opportunities, and the potential for higher returns and enhanced performance.
1. Enhanced Diversification: Incorporating Spinoffs introduces a new layer of diversification. Since Spinoff companies often operate in different sectors than their parent companies, they can provide exposure to industries that might not have been represented in your portfolio. This helps spread risk and reduces the impact of negative events within a specific sector.
2. Undervalued Opportunities: Spinoffs are sometimes overlooked by the market, leading to potential undervaluation. This presents an opportunity for investors to purchase shares of promising companies at a lower price compared to their intrinsic value. As the market gradually recognizes their worth, these undervalued gems can yield substantial returns.
3. Focused Management: Spinoff companies can streamline operations and focus on their core competencies, which often leads to improved efficiency and performance. The management teams of these newly independent entities tend to be more agile and dedicated to the success of their specific business, potentially translating into better growth prospects.
4. Catalyst for Change: The newfound independence of a Spinoff can lead to strategic changes, such as cost-cutting initiatives, innovation, and targeted expansion plans. These changes can drive improved financial performance and boost shareholder value over time.
5. Potential for Outperformance: Historical data indicates that Spinoffs often outperform the broader market indices. This outperformance can be attributed to a combination of factors, including improved focus, better capital allocation decisions, and the market's eventual recognition of the Spinoff's value proposition.
Why isn’t Everybody Looking At Them?
I asked the legendary investor Joel Greenblatt this question once and he didn’t hesitate to give me the answer. ‘No one wants to do the work.’ Spinoffs analysis takes a lot of effort and, surprise, surprise, not many want to do it. However, as an investment veteran of over 30 years, I can categorically say that some of my most profitable ideas come from doing a hell of a lot of work and finding the angle and edge in the situation in this area. Furthermore, they are not promoted by brokers. Unlike an IPO there is no stock to sell you. You gain the Spinoff from holding the parent company whether you like it or not. This opens a whole range of dynamics that are interesting for investing.
Recent Spinoffs That You May Know
AbbVie (ABBV) (formerly known as Abbott Laboratories' biopharmaceutical business) was spun off from Abbott Laboratories in 2013. AbbVie has outperformed the S&P 500 by more than 200% since the spinoff.
Visa (V) was spun off from Bank of America (BAC) in 2008. Visa has outperformed the S&P 500 by more than 400% since Spinoff.
Mastercard (MA) was spun off from American Express (AXP) in 2006. Mastercard has outperformed the S&P 500 by more than 300% since Spinoff.
Agilent Technologies (A) was spun off from Hewlett-Packard (HPQ) in 1999. Agilent Technologies has outperformed the S&P 500 by more than 200% since the spinoff.
Johnson & Johnson's (JNJ) Life Sciences division was spun off as a separate company called Janssen Pharmaceutical Companies in 2017. Janssen Pharmaceutical Companies has outperformed the S&P 500 by more than 50% since the spinoff.
These are just a few examples of successful stock Spinoffs. There are many other examples, and the success of a spinoff can vary depending on several factors, such as the underlying business, the management team, and the market condition.
In Summary
If you are after hidden value where no one else is looking, look no further than this area of the market. There are services out there that can help, but ultimately a little hard work in a proven area will get you to some positive wealth creation a lot faster than competing with the masses.
On the date of publication, Jim Osman 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-08-25 00:00:00+00:00
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EXCLUSIVE-Danaher in the lead to acquire biomedical equipment vendor Abcam -sources
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By David Carnevali
NEW YORK, Aug 25 (Reuters) - Danaher Corp DHR.N is in the lead to acquire Abcam Plc ABCM.O, a provider of supplies to life science researchers with a market value of $5.4 billion, as it expands its biomedical offerings, people familiar with the matter said on Friday.
Abcam believes that Danaher's all-cash offer is superior to a rival bid from Agilent Technologies Inc A.N, the sources said.
The exact price that Danaher is offering could not be learned. One of the sources said the deal price would be close to Abcam's current valuation, given that its stock has already risen more than 20% after Bloomberg News reported on June 16 that the company was fielding takeover interest.
If the negotiations conclude successfully, a deal could be announced as early as next week, the sources said, cautioning that no agreement is certain and that the outcome could still change. They asked not to be identified because the matter is confidential.
Abcam, Danaher and Agilent did not immediately respond to requests for comment.
Abcam shares rose as much as 9% in afternoon trading in New York on Friday to $24.52. Danaher shares were up 1.3% at $256.76.
Based in Cambridge, England, Abcam supplies antibodies, reagents and other products used in medical research. The company serves roughly 750,000 research scientists at academic, research, government and biopharmaceutical organizations.
Abcam has come under pressure from activist shareholders to sell itself, including its founder Jonathan Milner who owns 6.1% of the company, as well as hedge fund Starboard Value LP, complaining about the company's stock underperforming for most of the last two years.
Danaher, one of the world's largest suppliers of diagnostic tools with a market value of $190 billion, has turned to dealmaking to expand in the sector. Abcam's antibody and reagent solutions could help Danaher win more and bigger contracts with some customers.
Danaher acquired General Electric Co's GE.N biopharma solution business for $21.4 billion in 2019 and contract development and manufacturing organization Aldevron for $9.6 billion in 2021.
(Reporting by David Carnevali in New York Editing by Greg Roumeliotis and Nick Zieminski)
((Greg.Roumeliotis@thomsonreuters.com; +1 646 223 6022; Reuters Messaging: greg.roumeliotis.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-08-25 00:00:00+00:00
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EXCLUSIVE-Danaher in the lead to acquire biomedical equipment vendor Abcam-sources
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By David Carnevali
NEW YORK, Aug 25 (Reuters) - Danaher Corp DHR.N is in the lead to acquire Abcam Plc ABCM.O, a provider of supplies to life science researchers with a market value of $5.1 billion, as it expands its biomedical offerings, people familiar with the matter said on Friday.
Abcam believes that Danaher's all-cash offer is superior to a rival bid from Agilent Technologies Inc A.N, the sources said.
The exact price that Danaher is offering could not be learned. One of the sources said the deal price would be close to Abcam's current valuation, given that its stock has already risen close to 20% after Bloomberg News reported on June 16 that the company was fielding takeover interest.
If the negotiations conclude successfully, a deal could be announced as early as next week, the sources said, cautioning that no agreement is certain and that the outcome could still change. They asked not to be identified because the matter is confidential.
Abcam, Danaher and Agilent did not immediately respond to requests for comment.
Based in Cambridge, England, Abcam supplies antibodies, reagents and other products used in medical research. The company serves roughly 750,000 research scientists at academic, research, government and biopharmaceutical organisations.
(Reporting by David Carnevali in New York Editing by Greg Roumeliotis)
((Greg.Roumeliotis@thomsonreuters.com; +1 646 223 6022; Reuters Messaging: greg.roumeliotis.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-08-21 00:00:00+00:00
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Buy the Drop: 3 Stocks to Snag After This Month’s 20% Tumble
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
August has been a great month for investors looking for bargain stocks to buy on the dip. The S&P 500, Dow Jones Industrial Average, and the Nasdaq 100 were down 2,1%, 2.0%, and 2.4%, respectively, for the week of Aug. 14-18. Barron’s believes that September could be worse. If the past week is any indication, they could be on to something.
Fundstrat analyst Tom Lee thinks August has been its typical mercurial self where gains are hard to come by and that the good times should return soon. Baron’s reported Lee’s comments from his Aug. 18 note to clients:
“[T]he month’s declines haven’t shaken Lee’s core bullish thesis. ‘We see this more as ‘it’s August’ rather than the start of a larger rout…we are not in the camp this spills over into a wider selloff. That could happen, but more bad things need to emerge. In fact, there are some signs that we could see the stocks begin to stabilize soon.’”
So, if you’re a risk-averse investor, you might want to wait a couple of weeks to see if the markets bottom.
In the meantime, a quick screen of S&P 500 stocks down more than 20% over the past month gives bargain-hunting investors 14 stocks to choose from. Here are three undervalued due to their 20%, including one name from three different sectors.
Sealed Air (SEE)
Source: Shutterstock
Sealed Air (NYSE:SEE) represents the materials sector. Its stock is down 25% for the past month and 31% year-to-date.
Analysts are moderately optimistic about the stock, with 7 of the 15 rating it as Overweight or an outright Buy. It’s target price is $45 which is 31% higher than its current share price.
One of the things that I use to assess value is free cash flow yield. If it’s over 8%, it’s definitely value. Between 4% and 8%, it’s reasonable value, if not dirt cheap. In the trailing 12 months ended June 30, its free cash flow was $152 million. Based on an enterprise value of $9.78 billion, it has a free cash flow yield of 1.6%, which suggests it’s not cheap.
Before you toss the company best known for bubble wrap packaging overboard, consider its historical FCF yield. In 2020, it had a free cash flow of $556 million. Based on an enterprise value of $10.6 billion. At first glance, it appears Sealed Air’s business has deteriorated.
And to a certain extent, it has, which is why it’s moving forwqard with SEE 2.0. This revitalization plan should deliver $150 million in annual cost savings by the end of 2025 and a return to its historical earnings and sales growth in 2024.
Its stock hasn’t been this low since June 2020. Get ready for a revival in the waning months of 2023 and into 2024.
Keysight Technologies (KEYS)
Source: fantasyform/Shutterstock.com
Keysight Technologies (NYSE:KEYS) represents the tech sector. Its stock is down 23% for the past month and 24% year-to-date. Like Sealed Air, it hasn’t traded this low since 2020.
Keysight is a relatively new company by S&P 500 standards, incorporated in 2013. However, its history dates back to 1939 and Hewlett-Packard’s founding by Bill Hewlett and Dave Packard. Their first product was an audio oscillator. Electronic measurement was their business.
In 1999, Agilent Technologies (NYSE:A) was formed to operate HP’s Medical Products and Instrument Group. In 2013, Agilent was split into two pure-play electronic measurement companies. Keysight was the one of the two, going public on November 1, 2014 after separating from Agilent. Agilent shareholders got one share of Keysight for two held by the parent.
KEYS stock is up 335% since it began trading in November 2014. Agilent is up 191% over the same period.
Shares have lost their mojo recently because the company reported Q3 2023 results on August 18th that included a downward revision of its guidance. It now expects fourth-quarter sales and earnings to decline by 10% and 13%, respectively.
Currently trading at 4.16x sales — less than its five-year average of 5.1x — its enterprise value of $22.5 billion is 12.87x its earnings before interest, taxes, depreciation and amortization (EBITDA). That’s lower than it’s been since 2016.
ResMed (RMD)
Source: Vitalii Vodolazskyi / Shutterstock
ResMed (NYSE:RMD) represents the healthcare sector. Its stock is down 25% for the past month and 21% year-to-date. Like the other two, it hasn’t traded this low since 2020.
Interestingly, ResMed’s business is probably doing the best in terms of top-line growth among the trio, up 23% in Q4 2023 and 18% for all of 2023 to $4.2 billion. However, investors began to abandon the stock after hearing its gross margin (56.5%) and operating margin (29.0%) dropped for the year.
All of its stock losses in 2023 are post-earnings. Investors have rightly or wrongly decided that the contraction of its margins in light of double-digit revenue growth suggests the quality of the sales increase for the maker of sleep apnea equipment is suspect.
ResMed CEO Mick Farrell is very confident about the future. He stated in the Q4 2023 conference call:
“Patient demand continues to drive increased adoption and utilization of our mask resupply programs, augmenting a steady cadence of new patient setups. We continue to see strong growth in both the U.S. business where provider resupply programs have augmented growth and in our markets outside the U.S. where our consumer outreach and subscription programs are also driving mass replenishment directly with those end user patients.”
Of the 24 analysts covering the stock, 18 rate it Overweight or an outright Buy with a $240 median price, 45% higher than its current share price.
I see ResMed as the best long-term hold of the trio, although all three should make you money over 3-5 years.
On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Will Ashworth has written about investments full-time since 2008. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.
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The post Buy the Drop: 3 Stocks to Snag After This Month’s 20% Tumble appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2023-08-18 00:00:00+00:00
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These 3 Unusually Active Options Have 1 Thing in Common
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As I write this, it’s approaching noon Friday on the east coast. The major indexes are either down or flat on the day. Stocks appear headed for their worst week since March.
Investors are worried about many subjects, including further interest rate hikes, higher bond yields, and a faltering Chinese economy.
While I can’t promise you a rose garden regarding these subjects, I can tell you that it can always be worse. Think March 2009 or March 2020.
My task on Fridays is to discuss unusual options activities that I find particularly interesting. The three options that have caught my attention today have one thing in common.
By the end, you ought to know what it is.
Happy Weekend!
Agilent Technologies
The first to catch my attention involves selling Agilent Technologies (A) put options. As I write this, one put and one call exhibits unusual options activity. While the call gives you a low ask price, I'm going with the Nov. 17 $115 put.
The bid price on this Agilent put is $3.70. Based on a share price of $119.63, we’re looking at an annualized yield of 12.4%. With 91 days to expiry, the volume is 828, or 2.55x open interest.
Currently, $4.63 above the strike, there is a real possibility that the put buyer will make you buy the shares at the strike. In that case, you’re not losing money until it falls to $111.30.
Over the past year, Agilent stock hasn’t traded that low, with a 52-week low of $113.28. The last time its shares consistently traded below $111 was in late 2020.
The odds are good that it might hit $115, but $111.30 is much less likely. I’m no technical analysis guru, but it does appear its shares bottomed in June.
I know what you’re thinking: Didn’t the company give its guidance on China concerns? It sure did.
On Wednesday, it said it expects revenue of $6.80 billion for its fiscal year, down from its previous guidance of $6.93 billion. On the bottom line, its earnings per share estimate has dropped by 20 cents to $5.40 at the low end of its guidance.
There you have it: approximately $130 million less revenue and 20 cents per share. The EPS estimate revision translates to less than a 4% cut in earnings.
Currently trading at 22.5x earnings, the maker of lab instruments is in value territory. Having traded near $180 as recently as September 2021, this is a good entry point.
Ford
Another stock that’s fallen out of favor with investors is Ford (F). Its shares are down 26% over the past year. Investors might be skeptical about its electric vehicle plans.
On Aug. 17, it announced that it and a consortium of companies would invest $887 million to build a plant in Becancour, Quebec, to produce EV battery materials. When the plant gets up to speed, it will be capable of producing 45,000 tonnes of cathode active materials (CAM).
“This cathode facility will supply the material that goes into Ford’s future EVs in North America, specifically some of our future trucks,” Lisa Drake, Ford vice president for EVs, told reporters.
As part of the investment, the Canadian government will make a CAD$322 million condition loan, while the Quebec government will kick in a similar amount on a forgivable basis. The plant’s expected to open in 2026.
I mention this because Ford recently reported healthy Q2 2023 earnings of $1.9 billion, a three-fold increase from a year ago. However, the iconic Detroit automaker said its EV business lost $1.1 billion on an EBIT basis during the quarter, more than double its loss in Q2 2022. In 2023, it expects EBIT losses of $4.5 billion, $1.5 billion more than expected.
Ford isn’t alone here.
Almost every company with a presence in EVs is losing money and ratcheting their production outputs lower to recognize that the uptake by consumers, especially in North America, will be slower than anticipated.
As soon as the charging networks are up to snuff in North America, EV production will rocket higher. It will take patience from investors.
The put to sell is the Sept. 8 $12 strike with a bid price of $0.38 for a net price of $11.62. That’s an annualized yield of 55.6% should its share price fail to remain under $12 by September.
With a 52-week low of $10.90, you aren’t likely to lose much on the trade, even if it falls into the low $11s. Long-term, Ford’s going to be a player in EVs.
U.S. Steel
The iconic but oft-struggled U.S. steelmaker is possibly in the final throes of being sold to one of its competitors. Who it will be, we still don’t know. However, one thing is sure: U.S. Steel’s (X) final sale price will increase.
Cleveland-Cliffs (CLF) has already offered $35 in cash and stock. That was rejected. Privately held Esmark has also made an unsolicited bid that’s been rejected by the company.
Where this goes is anyone’s guess.
However, if you sell the Aug. 25 $28.50 put, you’re looking at an annualized yield of almost 20%, with virtually no chance you’ll be asked to buy the shares. Keep selling puts weekly at a sub-$30 strike until the deal is done.
Sure, if everything goes away and there is no sale, the stock price could crater into the $20s, but by then, you might have rolled the dice on three or four occasions, pocketing more than enough premium income to account for any decline.
Consider this my M&A arbitrage bet.
Have you figured out the one thing these three stocks have in common? They all have single-letter stock symbols.
More Options News from Barchart
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On the date of publication, Will Ashworth 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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