Meanwhile, revenue from CrossLab Group grew 13% helped by strong growth across services and consumables. Revenue for the Diagnostics and Genomics Group (DGG) increased 9% helped by the strength in genomics, and revenue from Life Sciences & Applied Markets Group (LSAG) rose 7% on the strong performance of the spectrometry and cell analysis businesses.
Agilent is expected to have a high growth potential in the near future as the broad-based portfolio and expanded segments remain a valuable asset for the company. Agilent’s decision to divest or close down its underperforming segments is adding to its growth prospects.
The company also has the ability to find attractive growth options and new product launches. From the sell-side analysts’ view, more than 75% have suggested a “strong buy” or “buy” rating on the stock with an average price target of $77.36.
Shares of the scientific instrument maker have fallen more than 1% year-to-date, while it has risen by more than 10% for the past year.