Waters (NYSE:WAT) Issues Earnings Results

Waters (NYSE:WAT) released its quarterly earnings results on Tuesday. The medical instruments supplier reported $3.05 earnings per share for the quarter, beating the consensus estimate of $3.01 by $0.04, Zacks reports. Waters had a return on equity of 15.60% and a net margin of 11.91%.

Waters Stock Down 0.9%

Shares of WAT opened at $373.73 on Tuesday. The firm has a market cap of $36.70 billion, a P/E ratio of 47.49, a P/E/G ratio of 2.28 and a beta of 1.20. The stock has a 50 day simple moving average of $369.92 and a two-hundred day simple moving average of $344.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.79 and a quick ratio of 1.13. Waters has a 1 year low of $275.05 and a 1 year high of $414.15.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $350.00 price objective on shares of Waters in a research report on Thursday, May 7th. Robert W. Baird set a $387.00 target price on shares of Waters in a research report on Wednesday, May 6th. TD Cowen reissued a “hold” rating on shares of Waters in a research note on Wednesday, July 15th. Bank of America increased their price target on shares of Waters from $370.00 to $400.00 and gave the stock a “neutral” rating in a report on Tuesday, June 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Waters in a research report on Friday, July 17th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $402.47.

Institutional Investors Weigh In On Waters

A number of hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC increased its holdings in Waters by 2.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,048 shares of the medical instruments supplier’s stock worth $386,000 after acquiring an additional 30 shares during the last quarter. Zions Bancorporation National Association UT lifted its holdings in Waters by 121.2% during the fourth quarter. Zions Bancorporation National Association UT now owns 73 shares of the medical instruments supplier’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. IFM Investors Pty Ltd boosted its position in Waters by 0.4% during the fourth quarter. IFM Investors Pty Ltd now owns 11,302 shares of the medical instruments supplier’s stock worth $4,293,000 after purchasing an additional 42 shares during the period. Itau Unibanco Holding S.A. boosted its position in Waters by 39.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 155 shares of the medical instruments supplier’s stock worth $59,000 after purchasing an additional 44 shares during the period. Finally, Compound Planning Inc. increased its stake in shares of Waters by 3.2% in the fourth quarter. Compound Planning Inc. now owns 1,538 shares of the medical instruments supplier’s stock worth $584,000 after purchasing an additional 47 shares in the last quarter. 94.01% of the stock is currently owned by institutional investors.

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.