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

Waters (NYSE:WAT) issued its quarterly earnings results on Monday. The medical instruments supplier reported $4.53 earnings per share for the quarter, topping the consensus estimate of $4.50 by $0.03, FiscalAI reports. The company had revenue of $932.36 million during the quarter, compared to analysts’ expectations of $928.17 million. Waters had a net margin of 20.89% and a return on equity of 36.59%.

Waters Stock Performance

Shares of NYSE WAT opened at $381.95 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $22.75 billion, a P/E ratio of 35.11, a P/E/G ratio of 3.19 and a beta of 1.18. Waters has a 12 month low of $275.05 and a 12 month high of $415.11. The stock has a 50 day moving average of $387.85 and a 200-day moving average of $347.31.

Hedge Funds Weigh In On Waters

Large investors have recently made changes to their positions in the company. MUFG Securities EMEA plc acquired a new position in Waters in the 2nd quarter valued at $61,000. State of Wyoming acquired a new stake in shares of Waters during the 2nd quarter worth $75,000. Headlands Technologies LLC bought a new position in shares of Waters in the second quarter worth $135,000. EverSource Wealth Advisors LLC raised its stake in Waters by 82.9% in the second quarter. EverSource Wealth Advisors LLC now owns 386 shares of the medical instruments supplier’s stock valued at $135,000 after purchasing an additional 175 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in Waters by 44.3% during the third quarter. Brown Brothers Harriman & Co. now owns 769 shares of the medical instruments supplier’s stock worth $231,000 after purchasing an additional 236 shares during the period. Institutional investors own 94.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WAT shares. Morgan Stanley began coverage on shares of Waters in a research report on Monday, December 1st. They issued an “equal weight” rating and a $423.00 target price for the company. TD Cowen reaffirmed a “hold” rating on shares of Waters in a research report on Wednesday, November 5th. HSBC initiated coverage on Waters in a research note on Tuesday, January 27th. They issued a “buy” rating and a $460.00 price target for the company. Wells Fargo & Company upped their price objective on Waters from $385.00 to $415.00 and gave the stock an “equal weight” rating in a research note on Monday, December 15th. Finally, Guggenheim began coverage on Waters in a report on Tuesday, January 6th. They issued a “buy” rating and a $440.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $399.12.

About Waters

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.