Agilent (A) Boosts Spectrophotometer Reach With Cary System
Agilent Technologies A introduced Cary 3500 Flexible UV-Vis System in order to strengthen its spectrophotometer offerings.
Notably, the new spectrophotometer is a double-beam one that requires minimal sample preparation for diverse sample-type measurements, thus delivering robust photometric performance.
Further, it is ideal for analyzing liquid samples and characterizing solid samples as it features a large sample compartment with a small footprint.
With the latest move, Agilent has bolstered its OpenLab software suite. Moreover, it is likely to gain solid momentum in the pharma as well as biopharma industry on the back of the new spectrophotometer.
In addition, the company has made advancements in the Cary UV Workstation software, which allows users to save new calculations. Further, the software enables the automatic application of new calculations to any method.
Agilent Technologies, Inc. Price and Consensus
Agilent Technologies, Inc. price-consensus-chart | Agilent Technologies, Inc. Quote
LSAG Segment in Focus
The introduction of Cary 3500 Flexible UV-Vis System bodes well for the company’s growing efforts toward bolstering its Life Sciences & Applied Markets Group (LSAG) segment, which contributes the most to the total revenues.
In first-quarter fiscal 2023, the segment generated $1.03 billion revenues, accounting for 58.8% of the total revenues. Notably, the figure is up 6% on a reported basis and 11% on a core basis from the prior-year fiscal quarter’s levels.
We believe the company’s strong focus on bolstering the LSAG segment is expected to contribute well to its overall performance, which in turn is likely to aid it in winning investors’ confidence going ahead.
For fiscal 2023, Agilent expects revenues between $7.03 billion and $7.1 billion. The Zacks Consensus Estimate for the same is pegged at $7.07 billion, indicating growth of 3.2% from 2022.
Coming to the price performance, Agilent has gained 3.7% over the past year, outperforming the industry’s growth of 2.2%.
Expanding Portfolio
Apart from the latest move, the company announced the acquisition of e-Msion, which is known for an innovative electron capture dissociation technology called the ExD cell. As part of the deal, the ExD cell will be integrated into Agilent’s advanced workflows, instruments and analytical solutions, which in turn will drive Agilent’s momentum across laboratories as well as among biological researchers.
Also, Agilent announced the acquisition of Avida Biomed, which develops high-performance target enrichment workflows to aid clinical researchers using next-generation sequencing (NGS) approaches in studying cancer.
The solutions of Avida Biomed highly complement Agilent’s SureSelect portfolio and NGS offerings. It added strength to A’s portfolio of clinical research solutions. The acquisition is expected to help Agilent strengthen its Diagnostics and Genomics Group segment.
Further, the company released an on-deck thermal cycler, which enables more seamless workflows on Agilent’s Bravo NGS platforms.
We believe that the growing portfolio offerings will continue to help Agilent strengthen its presence across various end markets.
Zacks Rank and Other Stocks to Consider
Currently, Agilent carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology sector are Arista Networks ANET, Salesforce CRM and Analog Devices ADI. While Arista Networks and Salesforce sport a Zacks Rank #1 (Strong Buy), Analog Devices carries a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks shares have risen 18.2% in the past year. The long-term earnings growth rate for ANET is currently projected at 14.17%.
Salesforce shares have declined 6.2% in the past year. CRM’s long-term earnings growth rate is currently projected at 16.75%.
Analog Devices shares have risen 21.9% in the past year. The long-term earnings growth rate for ADI is currently projected at 10.5%.
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