vendredi 27 décembre 2013

Agilent Technologies: 4 Different Insiders Have Sold Shares This Month

In this article, I will feature one tech stock that has seen intensive insider selling during the last 30 days. Intensive insider selling can be defined by the following three criteria:



  1. The stock was sold by three or more insiders within one month.

  2. The stock was not purchased by any insiders in the month of intensive selling.

  3. At least two sellers decreased their holdings by more than 10%.


Agilent Technologies (A) provides bio-analytical and electronic measurement solutions and services to the life sciences, chemical analysis, diagnostics and genomics, communications, and electronics industries worldwide.


(click to enlarge)


Insider selling during the last 30 days


Here is a table of Agilent's insider-trading activity during the last 30 days by insider.
















































Name Title Trade Date Shares Sold Rule 10b5-1 Current Ownership Decrease In Ownership
Fred StrohmeierSVPDec 234,935 No25,824 shares16.0%
Didier HirschCFODec 1825,539 No59,425 shares30.1%
Guy SeneSVPDec 105,716 No33,938 shares14.4%
Jean HalloranSVPDec 5-655,127 No75,544 shares42.2%

There have been 91,317 shares sold by insiders during the last 30 days. More details about the Rule 10b5-1 trading plan can be found from this link.


Insider selling by calendar month


Here is a table of Agilent's insider-trading activity by calendar month.




































































Month Insider selling / shares Insider buying / shares
December 201391,3170
November 2013167,9110
October 201300
September 2013266,4690
August 201300
July 201300
June 201343,2530
May 201318,3310
April 201300
March 201373,9430
February 201300
January 201310,5580

There have been 671,782 shares sold, and there have been zero shares purchased by insiders this year.


Financials


Agilent reported the fiscal 2013 full-year, which ended October 31, financial results on November 14 with the following highlights:



















Revenue$6.8 billion
Net income$724 million
Cash$2.7 billion
Debt$2.7 billion

(click to enlarge)


(Source: November presentation)


Outlook


Agilent's guidance is as follows:


















Q1/2014FY2014
Revenue$1.68-$1.70 billion$6.95-$7.15 billion
EPS$0.65-$0.67$3.03-$3.33

(click to enlarge)


(Source: November presentation)


Agilent expects completion of separation into two publicly traded companies by early November 2014.


(click to enlarge)


(Source: November presentation)


Competition


Agilent's competitors include Danaher (DHR), Teradyne (TER), and Thermo Fisher Scientific (TMO). Here is a table comparing these companies.



































































































CompanyADHRTERTMO
Market Cap:19.07B53.63B3.31B39.85B
Employees:20,60063,0003,60038,900
Qtrly Rev Growth (yoy):-0.030.06-0.070.03
Revenue:6.78B18.83B1.39B12.88B
Gross Margin:0.520.520.560.42
EBITDA:1.39B4.23B307.02M2.73B
Operating Margin:0.150.180.120.13
Net Income:724.00M2.54B126.06M1.32B
EPS:2.103.580.543.59
P/E:27.3621.5032.3230.69
PEG (5 yr expected):1.861.982.13N/A
P/S:2.802.842.393.07


Agilent has the second-weakest revenue growth among these four companies.


Here is a table of these competitors' insider-trading activities this year.























Company Insider buying / shares Insider selling / shares
DHR 01,275,950
TER 0407,753
TMO 0507,764

Only Agilent has seen intensive insider selling during the last 30 days.


Conclusion


There have been four different insiders selling Agilent, and there have not been any insiders buying Agilent during the last 30 days. All four of these insiders decreased their holdings by more than 10%. Agilent has an insider ownership of 0.30%.


Before entering short Agilent, I would like to get a bearish confirmation from the Point and Figure chart. The two main reasons for the proposed short entry are weak revenue growth, and the intensive insider-selling activity.


Source: Agilent Technologies: 4 Different Insiders Have Sold Shares This Month


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. (More...)



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