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Agilent shares up after earnings beat

Mike McMullen, CEO of Agilent Technologies
VCG | VCG | Getty Images
Mike McMullen, CEO of Agilent Technologies

Agilent Technologies' stock rose more than 3 percent Tuesday after the company beat Wall Street's earnings estimates, driven by strong performances in its life sciences and applied markets units.

The company reported fiscal second-quarter adjusted of 44 cents a share, while analysts polled by Reuters expected Agilent to post earnings of 39 cents.

Agilent also raised its full-year guidance for core revenue growth, operating cash flow and adjusted earnings per share.

"Agilent delivered another strong quarter," Mike McMullen, Agilent president and CEO, said in a statement. "We continue to execute on our strategy to drive sustainable growth, expand operating margins and provide long-term value to our shareholders."

Wall Street analysts rewarded the company for its earnings beat and raised guidance, as at least six brokerages raised their price targets on the stock.

In 2016, Agilent shares have gained more than 6 percent, but have bounced more than 17 percent over the past three months.

A in past 3 monthsSource: FactSet

— Reuters contributed to this report.