Waters (NYSE:WAT) Releases Earnings Results, Beats Estimates By $0.03 EPS

Waters (NYSE:WAT) announced its quarterly earnings results on Monday. The medical instruments supplier reported $4.53 EPS for the quarter, beating the consensus estimate of $4.50 by $0.03, FiscalAI reports. The business had revenue of $932.36 million for the quarter, compared to analyst estimates of $928.17 million. Waters had a return on equity of 36.59% and a net margin of 20.89%.

Waters Stock Up 1.3%

NYSE WAT opened at $381.95 on Monday. The stock has a market capitalization of $22.75 billion, a P/E ratio of 35.11, a price-to-earnings-growth ratio of 3.19 and a beta of 1.18. Waters has a 52 week low of $275.05 and a 52 week high of $415.11. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.08 and a current ratio of 1.53. The stock has a fifty day moving average of $387.85 and a 200-day moving average of $347.31.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on WAT shares. Wells Fargo & Company upped their price objective on shares of Waters from $385.00 to $415.00 and gave the stock an “equal weight” rating in a research note on Monday, December 15th. William Blair began coverage on Waters in a research report on Monday, January 5th. They set an “outperform” rating on the stock. Guggenheim initiated coverage on Waters in a report on Tuesday, January 6th. They set a “buy” rating and a $440.00 price target for the company. TD Cowen reissued a “hold” rating on shares of Waters in a research note on Wednesday, November 5th. Finally, HSBC initiated coverage on Waters in a report on Tuesday, January 27th. They set a “buy” rating and a $460.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $399.12.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of WAT. Integrated Wealth Concepts LLC boosted its stake in Waters by 2.9% in the first quarter. Integrated Wealth Concepts LLC now owns 1,048 shares of the medical instruments supplier’s stock valued at $386,000 after acquiring an additional 30 shares during the last quarter. Norinchukin Bank The raised its holdings in shares of Waters by 2.0% during the third quarter. Norinchukin Bank The now owns 3,231 shares of the medical instruments supplier’s stock worth $969,000 after acquiring an additional 62 shares during the period. Vident Advisory LLC lifted its position in Waters by 8.3% in the 2nd quarter. Vident Advisory LLC now owns 1,740 shares of the medical instruments supplier’s stock valued at $607,000 after acquiring an additional 134 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Waters by 1.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,187 shares of the medical instruments supplier’s stock worth $4,253,000 after purchasing an additional 142 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of Waters by 16.6% in the 1st quarter. Empowered Funds LLC now owns 1,126 shares of the medical instruments supplier’s stock valued at $415,000 after purchasing an additional 160 shares during the period. Institutional investors own 94.01% of the company’s stock.

Waters Company Profile

Waters Corporation is a global provider of analytical instruments, software and services for laboratory and research applications. The company designs, manufactures and sells technologies centered on liquid chromatography, mass spectrometry, separation science, and related sample preparation and detection systems. Its product portfolio includes chromatographs, mass spectrometers, columns and consumables, laboratory informatics and workflow software, as well as technical support and training services that help customers run and interpret complex analyses.

Waters serves a wide range of end markets that include pharmaceutical and biotechnology companies, contract research and testing laboratories, academic and government research institutions, clinical diagnostics, food and environmental testing, and industrial and chemical manufacturers.