Agilent Technologies Inc (NYSE:A)
Agilent Technologies, Inc. (A), a global leader in life sciences, diagnostics and applied chemical markets company yesterday reported their second quarter 2016 financial results. Agilent reported second quarter earnings of $0.44 per share which beat analyst expectations of $0.39 per share. Agilent reported second quarter revenues increased 5.8% year over year to $1.02 billion which beat analyst expectations of $0.98 billion.
Agilent Technologies, Inc. CEO’s Comments
“Agilent delivered another strong quarter,” said Mike McMullen, Agilent president and CEO. “Revenue and earnings per share exceeded our guidance range. We saw broad growth across most of our portfolio and end markets.”
“We continue to execute on our strategy to drive sustainable growth, expand operating margins and provide long-term value to our shareholders,” he added. Business Wire
A Technical Analysis
Agilient opened trading yesterday at $42.61 which was down from the previous days trading of $42.62. A closed trading yesterday at $42.94 and spiked up after market to $44.50, equivalent to a 4% increase from the closing price. Taking a look at the daily chart we can see the last time Agilient traded above this price level we have to go all the way back to August of 2000 when it traded at highs of $45.78. Taking a closer look at the daily chart we can see that A has been on an overall uptrend dating back to February 8th when it traded at $34.80. A has a float of 327.21 million shares and traded over 2.2 times the normal daily trading volume on Monday. For trading purposes, I would like to see Agilient open trading above $44 on Monday and if it does I would be looking to take a long position at the bell. My stop loss would be $0.25 from my entry position fearing anything more than that and the stock would start to fill in the gap up.
Company Profile
Agilent Technologies, Inc. provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide. Its 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; laboratory software and informatics systems; laboratory automation and robotic systems; dissolution testing; vacuum pumps; and measurement technologies.
The company’s Diagnostics and Genomics segment provides reagents, instruments, software, and consumables; arrays for DNA mutation detection, genotyping, gene copy number determination, identification of gene rearrangements, DNA methylation profiling, and gene expression profiling, as well as sequencing target enrichment services; and equipment focused on production of synthesized oligonucleotides for use as active pharmaceutical ingredients. Its Agilent CrossLab segment offers GC and LC columns, sample preparation products, custom chemistries, and various laboratory instrument supplies; and startup, operational, training, and compliance support, as well as asset management and consultation services. The company markets and sells its products through direct sales, electronic commerce, resellers, manufacturers’ representatives, and distributors. Agilent Technologies, Inc. was founded in 1999 and is headquartered in Santa Clara, California.
By Jonathan G