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Agilent Technologies Inc A

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Agilent Delivers Strong Results in Q3, but Shares Remain Rich

Julie Utterback, CFA Senior Equity Analyst

Analyst Note

| Julie Utterback, CFA |

Wide-moat Agilent reported third-quarter results that beat expectations on the top and bottom lines, and management increased its outlook for fiscal 2021 again after increasing guidance the past two quarters. We may moderately boost our fair value estimate based on these trends. However, shares still appear rich to us.

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Company Profile

Business Description

Originally spun out of Hewlett-Packard in 1999, Agilent has evolved into a leading life sciences and diagnostics firm. Today, Agilent's measurement technologies serve a broad base of customers with its three operating segments: life science and applied tools (45% of fiscal 2020 sales), cross lab (36% of sales consisting of consumables and services related to its life science and applied tools), and diagnostics and genomics (20%). Just over half of its sales are generated from the biopharmaceutical, chemical, and energy end markets, but it also supports clinical lab, environmental, forensics, food, academic, and government-related organizations. The company is geographically diverse, with operations in the U.S. (33%) and China (20%) representing the largest country concentrations.

5301 Stevens Creek Boulevard
Santa Clara, CA, 95051
T +1 800 227-9770
Sector Healthcare
Industry Diagnostics & Research
Most Recent Earnings Jul 31, 2021
Fiscal Year End Oct 31, 2021
Stock Type Classic Growth
Employees 16,700