Agilent Technologies Inc. A recently announced that it is set to expand its capabilities in the cell analysis space.
The company announced the extension of its Cork facility in Ireland, with the aim of developing advanced technologies for real-time live-cell analysis.
The expanded facility will incorporate Luxcel Biosciences, which Agilent acquired this January. Luxcel Biosciences develops real-time fluorescence plate-readerin vitro live-cell test kits.
In addition, the complex will incorporate two new laboratories that will focus on developing cell analysis technologies, along with biosensors and related bio assay solutions.
Coming to share price performance, the stock has gained 0.8% on a year-to-date basis against the industry’s decline of 6%.
Cell Analysis Market Growth
Agilent has been making great efforts to strengthen its presence in the high-growth cell analysis market. Recently, the company completed the acquisition of a privately-held company, ACEA Biosciences. The deal will enable Agilent to widen its growth prospects and further expand the company's scope in the fast-growing cell analysis market.
Per a research report, the global cell analysis market is expected to reach $26.0 billion by 2020 from $19.0 billion in 2015, witnessing a compound annual growth rate (CAGR) of 6.56% from 2015 to 2020.
Given the strong growth in this market, we believe that the new move will help Agilent to cash in on the fast-growing cell analysis market.
Agilent is a broad-based original equipment manufacturer of test and measurement equipment. The company has been supplementing organizational growth, with the development of new technologies, innovative products, strategic acquisitions and collaborations.
The company entered the cell analysis market in 2015, with the acquisition of Seahorse Bioscience for $235 million. Seahorse’s XF technology has been utilized for research in an extensive range of diseases and disorders.
Over the past few years, strategic acquisitions have played a key role in shaping Agilent's growth trajectory. We remain optimistic about the company's broad-based portfolio and increased focus on segments with higher growth potential.
Agilent Technologies, Inc. Price and Consensus
Agilent Technologies, Inc. Price and Consensus | Agilent Technologies, Inc. Quote
Zacks Rank & Stocks to Consider
Currently, Agilent has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector include boohoo group plc BHOOY, QuinStreet, Inc. QNST and AMETEK, Inc. AME, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth rate for boohoo group, QuinStreet and AMETEK is currently pegged at 25%, 25% and 11.18%, respectively.
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