Agilent (A) Boosts Reach to Lab Researchers With New Devices

Agilent Technologies A is leaving no stone unturned to capitalize on growth opportunities present in the global mass spectrometry (MS) market, which, per a Mordor Intelligence report, is expected to hit $6.77 billion in 2024 and reach $9.17 billion by 2029, witnessing a CAGR of 6.3% between 2024 and 2029.

In this regard, the company recently introduced two new products, namely the Agilent 7010D Triple Quadrupole gas chromatography (GC)-MS System and the Agilent ExD Cell.

The Agilent 7010D Triple Quadrupole GC/MS System, featuring the HES 2.0 ion source, offers robustness and uptime. Its built-in intelligence streamlines analytical workflows and reduces instrument downtime.

Meanwhile, the Agilent ExD Cell for 6545XT AdvanceBio LC/ quadrupole time-of-flight (Q-TOF) enhances peptide and protein characterization capabilities with electron capture dissociation (ECD), ideal for researchers in the discovery phase, particularly for studying large proteins, fragile modifications, and isomeric residues.

Agilent is expected to gain solid traction across food and environmental markets, as well as biopharma and life science research laboratories, on the back of its new launches.

Agilent Technologies, Inc. Price and Consensus

Agilent Technologies, Inc. Price and Consensus

Agilent Technologies, Inc. price-consensus-chart | Agilent Technologies, Inc. Quote

Competitive Scenario

The new launches will aid this Zacks Rank #3 (Hold) company in competing well with some notable industry players like Waters WAT and Thermo Fisher Scientific TMO, which are also making concerted efforts to boost their presence in the MS market.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Waters recently introduced Xevo MRT, a benchtop mass spectrometer for large population and epidemiology-type studies.

The new Xevo MRT MS combines multi-reflecting time-of-flight (MRT) and hybrid Q-TOF technologies, offering high resolution and speed, and high-quality data in drug discovery studies. It also provides scientists with high sensitivity, fast data acquisition and confident analytical identification across various samples and complex matrices.

Thermo Fisher Scientific, on the other hand, boosted its presence in the MS market with the growing momentum across its Thermo Scientific Orbitrap Astral Mass Spectrometer product.

This analyzer enables researchers to uncover proteins that previously evaded detection, making breakthrough discoveries more efficient.

Strengthening Portfolio Aids Growth

The latest move bodes well for Agilent’s growing efforts toward strengthening its overall product portfolio across various end markets.

The company unveiled the newly upgraded BioTek Cytation C10 Confocal Imaging Reader at Analytica 2024. It features water immersion and confocal spinning disk technologies for improved image quality, minimized effects on live-cell samples, and enhanced clarity for thicker samples.

Agilent partnered with Incyte INCY to develop companion diagnostics for Incyte's hematology and oncology portfolio by leveraging its expertise in IVD assay development.

The Incyte collaboration will allow Agilent to expand its biomarker portfolio, boosting its presence in the precision oncology sector.

These endeavors to bolster the product portfolio are expected to aid Agilent’s overall financial performance in the near term.

However, broad-based weakness across all end markets, especially in the Pharma, Food, and Academic and Government markets and softening demand in China remain concerning for the company. Agilent’s shares have lost 3.8% in the year-to-date period, underperforming the Zacks Computer & Technology sector’s 16.7% growth.

For fiscal 2024, management revised revenue guidance downward from $6.71-$6.81 billion to $6.42-$6.50 billion, implying a fall of 6-4.9% on a reported basis and 5.4-4.3% on a core basis from the fiscal 2023 reported figure. The Zacks Consensus Estimate for fiscal 2024 total revenues is $6.53 billion, indicating a year-over-year decline of 4.5%.

The company also revised fiscal 2024 non-GAAP earnings per share guidance downward from $5.44-$5.55 to $5.15-$5.25. The consensus mark for the same is pegged at $5.28 per share, indicating a year-over-year decline of 2.9%. The figure has moved downward by 4% in the past seven days.

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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.

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