Credit: Agilent Technologies, Inc.A has significantly expanded its product portfolio with its focus on continued innovation and collaborations with growing companies.
The company has sealed a partnership with Transcriptic to develop novel synthetic biology solutions.
However shares of Agilenthave been underperforming the industry on a year-to-date basis. The stock has returned 10.74% compared with the Zacks Electronic Test Equipment industry's gain of 21.78%.
Partnership Details
Per the deal, Transcriptic will include a number of Agilent genomics products to its robotic cloud laboratory for mutagenesis and cloning. The first in the series will be QuikChange Lightning. This will accelerate the generation of multiple mutants for large protein function projects.
Transcriptic has a complete automated cell and molecular biology laboratory. The company's cloud-based service allows users to design their molecular biology experiments, run them on the Transcriptic lab and view the results from anywhere in the world.
Through this partnership, the duo will be able to offer high-quality biology research solutions to its customers. The partnership makes sense because it will lead to automation and better optimization of workflows, leading to rapid and efficient research discoveries.
Vice president and general manager of Agilent's Genomics Solutions Division and Clinical Applications Division stated, "We're excited to combine our genome engineering tools with automated experimentation. Transcriptic's services are validated, scalable, and accessible from anywhere in the world, which will enhance the market for our industry-leading reagents."
About the Duo
Agilent, spun off from Hewlett-Packard in 2000, is a global leader in life sciences communications, electronics, communications and chemical analysis. Agilent has two primary business segments, namely Bio-Analytical Measurement and Electronic Measurement that operate in close collaboration with scientists, engineers and researchers from across the globe.
Headquartered in Menlo Park, CA, Transcriptic is a SaaS-based biotechnology company which provides robotic solutions for biology labs. In November, Transcriptic raised $13.4 million. These funds will be used to extend the firm's platform capabilities.
AGILENT TECH Price and Consensus
AGILENT TECH Price and Consensus | AGILENT TECH Quote
Zacks Rank and Stocks to Consider
Currently, Agilent has a Zacks Rank #3 (Hold). Some better-ranked stocks in the industry are Cognex Corporation CGNX and Itron, Inc. ITRI , sporting a Zacks Rank #1 (Strong Buy), and Fortive Corporation FTV , carrying a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here .
Cognex Corporation delivered a positive earnings surprise of 24.92% in the trailing four quarters.
Itron, Inc. delivered a positive earnings surprise of 30.55%, on average, in the trailing four quarters.
Fortive Corporation delivered a positive earnings surprise of 8.42% in the trailing four quarters.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
