Waters (NYSE:WAT) Releases Quarterly Earnings Results, Beats Expectations By $0.47 EPS

Waters (NYSE:WATGet Rating) announced its quarterly earnings data on Tuesday. The medical instruments supplier reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.47, MarketWatch Earnings reports. The firm had revenue of $690.60 million for the quarter, compared to the consensus estimate of $634.08 million. Waters had a net margin of 24.87% and a return on equity of 239.12%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.29 earnings per share. Waters updated its Q2 guidance to $2.55-2.65 EPS and its FY22 guidance to $11.90-12.10 EPS.

NYSE:WAT traded up $22.23 during trading hours on Tuesday, hitting $324.61. 12,950 shares of the company traded hands, compared to its average volume of 387,378. Waters has a one year low of $288.32 and a one year high of $428.22. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 4.12. The company has a market cap of $19.61 billion, a PE ratio of 29.00, a PEG ratio of 3.02 and a beta of 0.85. The firm’s 50-day simple moving average is $313.05 and its 200-day simple moving average is $331.66.

Institutional investors have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC boosted its holdings in shares of Waters by 22.0% in the 4th quarter. Penserra Capital Management LLC now owns 272 shares of the medical instruments supplier’s stock worth $101,000 after buying an additional 49 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Waters in the 4th quarter worth about $202,000. MML Investors Services LLC bought a new position in Waters in the 4th quarter worth about $203,000. Forum Financial Management LP purchased a new stake in shares of Waters in the 4th quarter valued at about $272,000. Finally, Kingsview Wealth Management LLC boosted its position in shares of Waters by 25.6% during the 4th quarter. Kingsview Wealth Management LLC now owns 810 shares of the medical instruments supplier’s stock valued at $302,000 after acquiring an additional 165 shares during the last quarter. Institutional investors and hedge funds own 90.65% of the company’s stock.

Several brokerages recently commented on WAT. StockNews.com initiated coverage on shares of Waters in a research note on Thursday, March 31st. They issued a “buy” rating for the company. SVB Leerink lowered their price objective on Waters from $375.00 to $350.00 and set a “market perform” rating for the company in a research report on Wednesday, February 2nd. Finally, Wells Fargo & Company raised shares of Waters from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $320.00 to $315.00 in a research report on Monday, April 25th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Waters currently has a consensus rating of “Hold” and a consensus price target of $373.83.

Waters Company Profile (Get Rating)

Waters Corporation, a specialty measurement company, provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments, Waters and TA. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.

See Also

Earnings History for Waters (NYSE:WAT)

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