Agilent Technologies Inc. (NYSE:A) just extended its diagnostics franchise into one of oncology’s toughest corners. It is a narrow, technical-sounding approval, but it adds up to something bigger: Agilent’s diagnostics business keeps racking up new indications while competitors scramble to keep pace. Bear Case: A Crowded Diagnostics Field With A Scarier NeighborCompanion diagnostics is not Agilent’s alone to win. As of August 2, Agilent trades around a 20.58 forward P/E after a steady climb through the summer. Danaher trades at a similar 22.88 forward P/E, a gap that has narrowed sharply since Danaher’s post-earnings selloff.