Morningstar Rating

Stock Research and Analysis

by Michael Waterhouse

Bulls Say

Agilent has spent the past several years optimizing its manufacturing capabilities and streamlining operations to improve operating flexibility. An increasingly variable cost structure should further improve margins and make the company's results less susceptible to demand fluctuations going forward.
The recent acquisition of Dako creates a foundation for Agilent to compete in the high-growth molecular diagnostic market and increases the company's recurring revenue mix.
The company has a vast customer base with no one segment representing more than 20% of total revenue. Read more 

Bears Say

Agilent has a long history of acquisitions. In some cases, the company may not be able to achieve all of its post-merger sales and cost synergy goals.
Agilent must innovate and protect its intellectual property portfolio to stay ahead of the blistering pace of technological advancement, particularly as it competes with even larger companies with greater resources.
Agilent earns almost 70% of its revenue from sales outside of the United States, which exposes it to significant foreign exchange risk. Read more 

Management

We assign the company standard marks for stewardship. William P. Sullivan has been chief executive officer since 2005; before that, he had been executive vice president and chief operating officer since 2002. Sullivan is an Agilent veteran who has been   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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