Both the outlook and the earnings for this medical technology specialist have improved since it set up its Keysight business as a separate company.
In November 2014, the old Agilent set up its Keysight subsidiary as a separate company and gave its shareholders one Keysight share for every two Agilent shares they held.
While the new Agilent is down 15%. We still like the outlook for both companies, but see Agilent as the better buy for now.
AGILENT TECHNOLOGIES INC. (New York symbol A; www.agilent.com) makes specialized testing equipment, such as mass spectrometers, for medical research labs.
In May 2015, the company purchased Cartagenia, a Belgian firm that makes software for Agilent’s medical-testing equipment. The company paid $60 million euros for this business.
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Agilent later paid $242 million for Seahorse Bioscience. The firm makes equipment for lab researchers to measure a cell’s response to new drugs. That helps pharmaceutical firms develop treatments for cancer and infectious diseases.
Excluding the costs to integrate these new operations, Agilent earned $651 million in the fiscal year ended October 31, 2016. That’s up 11.7% from $583 million for the previous year. Due to fewer shares outstanding, earnings per share gained 13.8%, to $1.98 from $1.74. Revenue rose 4.1%, to $4.2 billion from $4.0 billion.
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Agilent now expects to earn $2.13 a share for all of fiscal 2017. The stock trades at 21.1 times the forecast. That’s a reasonable multiple in light of the company’s high level of research spending; it was equal to 7.8% of Agilent’s revenue for 2016. The stock’s $0.53 dividend yields 1.2%.
Recommendation in Wall Street Stock Forecaster: BUY
I am a Wealth Advisor subscriber and would appreciate any comments you or your readers might have on holding bonds in the near term. I have a significant holding in a bond ETF (XBB) but the unit value has dropped about 5% in the last 3 months. Would you comment on the dilemma in making a decision to hold on to bond positions in the current climate or move in to equities. Protection of capital is my priority. Thanks
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I’d love to hear more on the spinoff as well.
I am a Wealth Advisor subscriber and would appreciate any comments you or your readers might have on holding bonds in the near term. I have a significant holding in a bond ETF (XBB) but the unit value has dropped about 5% in the last 3 months. Would you comment on the dilemma in making a decision to hold on to bond positions in the current climate or move in to equities. Protection of capital is my priority. Thanks
Thanks for your question….we’ll look at that issue in an upcoming issue of our Canadian Wealth Advisor newsletter.