Financial markets fell hard last week on fears of the coronavirus. Both the S&P 500 (SPY) and Dow Jones (DIA) fell by double digits. Several drug companies are trying to develop a treatment for the virus. The outbreak is hurting manufacturing activity in China. It could also be disruptive to companies with supply chains in China. Agilent Technologies (A) could be one of those companies. The stock is off in the mid-single-digit percentage range since reporting earnings in mid-February. The stock has likely been negatively impacted by the sell off in broader markets.
In its most recent quarter Agilent reported revenue of about $1.4 billion, up 6% Y/Y. Each of the company’s three main operating segments reported growth in the mid-single-digit percentage range. Revenue from the Life Sciences and Applied Markets Group (“LSAG”) grew 5% Y/Y on a reported basis. Results were driven by strong performance in biopharma and cell analysis. On a core basis, LSAG’s revenue actually fell 2% as the segment was negatively impacted by the coronavirus. Read more: