Agilents stock is up on repurchase plan, $725 million investment
Agilent Technologies Inc.'s stock is up more than 5% on Tuesday following news the Silicon Valley company unveiled a stock repurchase plan of up to $2 billion and its intention to plow $725 million into its manufacturing capacity. Agilent on Monday said its share repurchase program of common stock, begins March 1.
It also plans to double manufacturing capacity of therapeutic nucleic acids to meet strong demand for its active pharmaceutical ingredients. Shares of Agilent are up 3.6% this year; the broader S&P 500 index has improved 2% in 2023.