Waters Co. Expected to Post Q2 2024 Earnings of $2.54 Per Share (NYSE:WAT)

Waters Co. (NYSE:WATFree Report) – Equities researchers at Leerink Partnrs lowered their Q2 2024 earnings estimates for Waters in a report issued on Tuesday, May 7th. Leerink Partnrs analyst P. Souda now forecasts that the medical instruments supplier will post earnings per share of $2.54 for the quarter, down from their prior forecast of $2.88. The consensus estimate for Waters’ current full-year earnings is $11.89 per share. Leerink Partnrs also issued estimates for Waters’ FY2024 earnings at $11.90 EPS, Q1 2025 earnings at $2.61 EPS, Q2 2025 earnings at $2.90 EPS, Q3 2025 earnings at $3.27 EPS and FY2026 earnings at $14.33 EPS.

Other research analysts have also recently issued research reports about the company. Robert W. Baird dropped their price target on Waters from $319.00 to $312.00 and set a “neutral” rating on the stock in a report on Wednesday. TD Cowen upped their target price on Waters from $350.00 to $358.00 and gave the company a “hold” rating in a report on Wednesday. Evercore ISI lifted their price target on Waters from $320.00 to $340.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Stifel Nicolaus upped their price objective on shares of Waters from $330.00 to $332.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Barclays dropped their target price on shares of Waters from $300.00 to $295.00 and set an “underweight” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $305.78.

Read Our Latest Stock Analysis on WAT

Waters Stock Up 4.4 %

WAT stock opened at $351.11 on Friday. The firm has a market cap of $20.82 billion, a PE ratio of 32.36, a P/E/G ratio of 6.36 and a beta of 0.98. Waters has a 12 month low of $231.90 and a 12 month high of $363.80. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.22 and a quick ratio of 1.57. The firm has a 50 day simple moving average of $333.03 and a 200 day simple moving average of $311.69.

Waters (NYSE:WATGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.11. Waters had a return on equity of 81.30% and a net margin of 21.72%. The company had revenue of $636.80 million for the quarter, compared to analysts’ expectations of $635.57 million. During the same period last year, the firm earned $2.49 EPS. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis.

Insider Buying and Selling

In other Waters news, Director Linda Baddour sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $355.54, for a total value of $177,770.00. Following the transaction, the director now owns 2,250 shares in the company, valued at approximately $799,965. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Waters

A number of hedge funds and other institutional investors have recently made changes to their positions in WAT. Vanguard Group Inc. boosted its holdings in Waters by 0.6% in the first quarter. Vanguard Group Inc. now owns 6,879,316 shares of the medical instruments supplier’s stock worth $2,368,067,000 after purchasing an additional 41,654 shares in the last quarter. GUARDCAP ASSET MANAGEMENT Ltd bought a new position in shares of Waters in the 4th quarter valued at approximately $361,839,000. Invesco Ltd. lifted its holdings in Waters by 3.0% in the 3rd quarter. Invesco Ltd. now owns 1,092,459 shares of the medical instruments supplier’s stock worth $299,563,000 after purchasing an additional 32,059 shares during the last quarter. Nordea Investment Management AB boosted its position in Waters by 129.9% during the fourth quarter. Nordea Investment Management AB now owns 973,537 shares of the medical instruments supplier’s stock worth $322,017,000 after purchasing an additional 550,112 shares during the period. Finally, American Century Companies Inc. grew its holdings in Waters by 34.3% during the third quarter. American Century Companies Inc. now owns 832,895 shares of the medical instruments supplier’s stock valued at $228,388,000 after purchasing an additional 212,754 shares during the last quarter. 94.01% of the stock is owned by hedge funds and other institutional investors.

About Waters

(Get Free Report)

Waters Corporation 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.

Further Reading

Earnings History and Estimates for Waters (NYSE:WAT)

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