5 Best Scientific Instruments Stocks To Buy

3. Agilent Technologies, Inc. (NYSE:A)

Number of Hedge Fund Holders: 48

Agilent Technologies, Inc. (NYSE:A) provides specialized solutions for life sciences, diagnostics, and applied chemical markets worldwide. The company’s Life Sciences and Applied Markets segment offers a range of instruments and systems, including liquid chromatography, mass spectrometry, gas chromatography, atomic absorption, and microwave plasma-atomic emission spectrometry instruments. On February 28, Agilent Technologies, Inc. (NYSE:A) reported a Q1 non-GAAP EPS of $1.37 and a revenue of $1.76 billion, topping Wall Street estimates by $0.06 and $60 million, respectively. It is one of the best scientific instruments stocks to invest in. 

As per Credit Suisse analyst Dan Leonard, Agilent Technologies, Inc. (NYSE:A) had a strong quarter, and as a result, he increased the firm’s price target on the company’s shares from $165 to $170 while maintaining an Outperform rating. The analyst believes that the market undervalues Agilent Technologies, Inc. (NYSE:A)’s potential to grow towards the top of the industry in various macro environments.

According to Insider Monkey’s fourth quarter database, 48 hedge funds were bullish on Agilent Technologies, Inc. (NYSE:A), compared to 46 funds in the prior quarter. Ian Simm’s Impax Asset Management is the biggest stakeholder of the company, with 3.92 million shares worth $586.7 million. 

Cooper Investors made the following comment about Agilent Technologies, Inc. (NYSE:A) in its Q4 2022 investor letter:

“Agilent Technologies, Inc. (NYSE:A) finished a great year with +12% organic growth after a +15% year in 2021. As a supplier of liquid chromatography/ mass spectrometry instruments into the life sciences industry, Agilent enjoyed a period of supernormal growth over the 2020-2021 COVID pandemic. Like several of our healthcare and diagnostics investments Agilent de-rated quite sharply in the first half of 2022 as the market ‘faded’ the decline in COVID testing revenues. In our view this short term volatility obscures the high quality of Agilent’s business and long term growth opportunities. One example is environmental testing as mandated by the US EPA where US$4bn of funding in the infrastructure bill has been put aside for PFAS testing. As CEO Mike McMullen noted on the last call, ‘it’s the first time in my career we’ve seen this kind of government money coming in’.”