Valued at a market cap of $34.5 billion, Agilent Technologies, Inc. (A) is an original equipment manufacturer of a broad-based portfolio of test and measurement products serving multiple end markets. The Santa Clara, California-based company provides instruments, software, services, and consumables that help laboratories improve efficiency and accuracy in scientific research, quality control, and clinical applications. Operating in over 110 countries, Agilent maintains a strong global footprint, serving top research institutions and industrial sectors. 

Companies valued at $10 billion or more are typically classified as “large-cap stocks,” and Agilent fits the label perfectly, with its market cap exceeding this threshold, underscoring its size, influence, and dominance within the diagnostics & research industry. The company excels in chromatography, mass spectrometry, and spectroscopy solutions, making it a key player in pharmaceutical research, biotechnology, and environmental testing. With a strong presence in life sciences and diagnostics, Agilent supports drug discovery, genetic research, and precision medicine through cutting-edge diagnostic tools. 

Shares of this healthcare company sit 21.2% below its 52-week high of $155.35, reached on May 17. The stock has declined 10.2% over the past three months, slightly outpacing the broader Nasdaq Composite’s ($NASX) 11.4% dip over the same time frame. 

However, in the longer term, A stock has tumbled 16.9% over the past 52 weeks, considerably underperforming NASX’s 11.5% rise. Moreover, on a YTD basis, shares of Agilent are down 8.8%, compared to NASX’s 7.8% plunge.

To confirm its bearish trend, Agilent has been trading below its 200-day and 50-day moving averages since mid-February. 

Agilent released its fiscal Q1 earnings results on Feb. 26. The company reported adjusted EPS of $1.31, up almost 2% year over year and topping Wall Street’s expectations of $1.27.  Meanwhile, its revenue improved 1.4% annually to $1.7 billion and marginally exceeded the forecasts.

Despite these better-than-expected results, Agilent’s stock plummeted 5.5% in the subsequent trading session, primarily due to its underwhelming revenue guidance for the next quarter. The management projected revenue between $1.61 billion and $1.65 billion, which fell short of market expectations. Looking ahead to fiscal 2025, Agilent forecasted revenue between $6.68 billion and $6.76 billion, representing a year-over-year growth between 2.6% and 3.8%. Non-GAAP EPS is expected to be between $5.54 and $5.61.

Agilent has lagged behind its rival, Danaher Corporation (DHR), which declined 14.8% over the past 52 weeks and 7.4% on a YTD basis. 

Given Agilent’s recent outperformance relative to the Nasdaq, analysts remain moderately optimistic about the stock’s prospects. The stock has a consensus rating of “Moderate Buy” from the 16 analysts covering it, and the mean price target of $151.71 suggests 23.9% upside potential from its current price levels.