Agilent Technologies Shares Fall After Slower Sales From China

Date : 05/15/2019 @ 5:01PM
Source : Dow Jones News
Stock : Agilent Technologies, Inc. (A)
Quote : 69.02  1.32 (1.95%) @ 5:02PM

Agilent Technologies Shares Fall After Slower Sales From China

Agilent (NYSE:A)
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By Patrick Thomas


Agilent Technologies Inc. (A) shares fell about 12% to $67.11 after the California manufacturer of laboratory equipment reported slower sales of its life-sciences instruments in China.

As a result, the firm lowered its revenue forecast for the current fiscal year to between $5.09 billion and $5.13 billion from between $5.15 billion and $5.19 billion.

In the latest period Agilent also posted lower-than-expected total revenue and said sales from its life sciences and applied markets business fell 1% from a year earlier.

Despite the weaker results, some analysts remain bullish on the company. SVB Leerink analysts said in a research note that Agilent is undervalued compared with its peers. The analysts maintained their "outperform" rating on the company's stock but lowered their price target to $80 from $86.

"We view Agilent positively and believe that the company holds the leading position in environmental, chemical, and food testing markets around the world while maintaining a well-diversified position across healthcare in biopharma, life science tools and diagnostics," the SVB analysts said in the note.


Write to Patrick Thomas at


(END) Dow Jones Newswires

May 15, 2019 11:46 ET (15:46 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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