Morningstar Rating

Stock Research and Analysis

by Michael Waterhouse

Bulls Say

Agilent is a well-established leader in many of its core markets. Customer familiarity with Agilent’s instrumentation and services makes market share gains for new entrants difficult.
Agilent’s spin-off of its electronic measurements segment will free up resources to focus on building out the company’s life science, diagnostic, and chemical analysis operations--all higher-growth and more differentiated industries.
The acquisition of Dako enhances Agilent’s access to the higher-growth and larger clinical diagnostics market while boosting the company’s recurring revenue mix. Read more 

Bears Say

A significant portion of Agilent’s business is dependent on research, composed largely of academic and government institutions, which are likely to continue to face budget constraints over the near term.
Agilent must continually innovate to stay at the forefront of technological advancement, particularly as it competes with even larger companies with greater resources.
Acquisitions and divestments have been central components of Agilent’s strategy, which places high demands on management’s ability to execute market expansion and integration goals. Read more 

Management

We assign the company Standard marks for stewardship. In terms of capital allocation, we think management wisely uses acquisitions and divestitures, such as the KeySight Technologies spin-off, to improve asset productivity. While Agilent may not be   Read more 

Profile

Agilent was originally spun out of Hewlett-Packard in 1999 and has since evolved into a leading health care firm. Today, Agilent's measurement technologies serve a broad   Read more 

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