Home Hedge Funds Should You Add Agilent Technologies (A) to Your Portfolio?

Should You Add Agilent Technologies (A) to Your Portfolio?


Madison Investments, an investment advisor, released its “Madison Sustainable Equity Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. During the fourth quarter, equity markets ended the year on a high note, with the S&P 500 achieving an 11.7% increase. This brought the full-year return to 26.3%. The Fund (Class Y) returned 18.0% for the year, but had a Q4 return of 11.9%, trailing the S&P 500. The fourth quarter’s strength can be attributed to the yield curve’s downward shift. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Sustainable Equity Fund featured stocks such as Agilent Technologies, Inc. (NYSE:A) in its Q4 2023 investor letter. Headquartered in Santa Clara, California, Agilent Technologies, Inc. (NYSE:A) is an application-focused solutions provider to life sciences, diagnostics, and applied chemical markets. On February 1, 2024, Agilent Technologies, Inc. (NYSE:A) stock closed at $133.05 per share. The one-month return of Agilent Technologies, Inc. (NYSE:A) was 1.91%, and its shares lost 13.91% of their value over the last 52 weeks. Agilent Technologies, Inc. (NYSE:A) has a market capitalization of $38.984 billion.

Madison Sustainable Equity Fund stated the following regarding Agilent Technologies, Inc. (NYSE:A) in its fourth quarter 2023 investor letter:

Agilent Technologies, Inc. (NYSE:A) stock performed well following a better than expected fiscal fourth quarter with guidance for fiscal 2024 also better than expectations. On the earnings call, management suggested that business was stabilizing. 2024 is expected to be back-end loaded, which could result in ongoing volatility, however, we like the long-term position of Agilent with its strong product portfolio and capable management team.

Portfolio changes during the quarter included the purchase of Agilent Technologies. Agilent is a leading maker of scientific testing equipment. Agilent supplies analytical and measurement instruments, including gas and liquid chromatographs, mass spectrometers, software, and informatics. Its products are used in pharmaceutical, biotechnology, academic and government, chemical and energy, and food markets. Sixty percent of Agilent’s revenues are recurring, which reduces the cyclicality of the business. The company targets long-term revenue growth of 5% to 7%.”

A scientist wearing lab coat examining test tubes in a laboratory, representing the scientific research of the pharmaceutical and nutritional supplement companies.

Agilent Technologies, Inc. (NYSE:A) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 45 hedge fund portfolios held Agilent Technologies, Inc. (NYSE:A) at the end of third quarter which was 46 in the previous quarter.

We discussed Agilent Technologies, Inc. (NYSE:A) in another article and shared Oakmark Global Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.

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