Beaconlight Capital LLC Sells 32,444 Shares of Agilent Technologies Inc (A)

Beaconlight Capital LLC reduced its position in shares of Agilent Technologies Inc (NYSE:A) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 291,828 shares of the medical research company’s stock after selling 32,444 shares during the quarter. Agilent Technologies comprises about 6.8% of Beaconlight Capital LLC’s portfolio, making the stock its 5th biggest position. Beaconlight Capital LLC owned approximately 0.09% of Agilent Technologies worth $19,687,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Captrust Financial Advisors raised its stake in shares of Agilent Technologies by 2,121.1% in the fourth quarter. Captrust Financial Advisors now owns 422 shares of the medical research company’s stock worth $29,000 after purchasing an additional 403 shares during the last quarter. JOYN Advisors Inc. raised its stake in shares of Agilent Technologies by 186.6% in the fourth quarter. JOYN Advisors Inc. now owns 470 shares of the medical research company’s stock worth $32,000 after purchasing an additional 306 shares during the last quarter. Truehand Inc purchased a new stake in shares of Agilent Technologies in the fourth quarter worth approximately $33,000. We Are One Seven LLC purchased a new stake in shares of Agilent Technologies in the fourth quarter worth approximately $33,000. Finally, Doyle Wealth Management purchased a new stake in shares of Agilent Technologies in the fourth quarter worth approximately $34,000.

Shares of NYSE A opened at $80.61 on Friday. Agilent Technologies Inc has a 1-year low of $60.42 and a 1-year high of $81.76. The firm has a market cap of $25.38 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 2.22 and a beta of 1.38. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.39 and a quick ratio of 2.79.

Agilent Technologies (NYSE:A) last announced its quarterly earnings data on Wednesday, February 20th. The medical research company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.03. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. Agilent Technologies had a return on equity of 19.90% and a net margin of 22.86%. Agilent Technologies’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. Analysts anticipate that Agilent Technologies Inc will post 3.06 earnings per share for the current year.

Agilent Technologies announced that its Board of Directors has initiated a share buyback program on Monday, November 19th that allows the company to repurchase $1.75 billion in outstanding shares. This repurchase authorization allows the medical research company to buy up to 8.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

In related news, VP Rodney Gonsalves sold 6,155 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $79.79, for a total value of $491,107.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dominique Grau sold 8,902 shares of the stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $77.00, for a total value of $685,454.00. Following the completion of the sale, the insider now owns 103,387 shares in the company, valued at approximately $7,960,799. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,171 shares of company stock worth $5,764,185.

Several analysts have recently commented on the company. Deutsche Bank reissued a “buy” rating and issued a $90.00 price objective on shares of Agilent Technologies in a research note on Thursday, February 21st. Robert W. Baird reissued a “buy” rating and issued a $82.00 price objective (up from $77.00) on shares of Agilent Technologies in a research note on Wednesday, February 20th. Barclays increased their price objective on Agilent Technologies from $80.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, February 21st. JPMorgan Chase & Co. increased their price objective on Agilent Technologies to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, February 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $88.00 price objective (up from $77.00) on shares of Agilent Technologies in a research note on Monday, February 25th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $86.40.

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Agilent Technologies Company Profile

Agilent Technologies, Inc provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide. It operates through three segments: Life Sciences and Applied Markets, Diagnostics and Genomics, and Agilent CrossLab. The Life Sciences and Applied Markets segment offers liquid chromatography systems and components; liquid chromatography mass spectrometry systems; gas chromatography systems and components; gas chromatography mass spectrometry systems; inductively coupled plasma mass spectrometry instruments; atomic absorption instruments; microwave plasma-atomic emission spectrometry instruments; inductively coupled plasma optical emission spectrometry instruments; raman spectroscopy; cell analysis plate based assays; flow cytometer; real-time cell analyzer; laboratory software and information management and analytics; laboratory automation and robotic systems; dissolution testing; vacuum pumps; and measurement technologies.

Further Reading: Cost of Debt

Institutional Ownership by Quarter for Agilent Technologies (NYSE:A)

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