Jefferies Financial Group Analysts Reduce Earnings Estimates for Waters Co. (NYSE:WAT)

Waters Co. (NYSE:WATGet Rating) – Investment analysts at Jefferies Financial Group lowered their FY2022 EPS estimates for Waters in a research note issued on Wednesday, August 3rd. Jefferies Financial Group analyst B. Couillard now forecasts that the medical instruments supplier will earn $12.00 per share for the year, down from their previous forecast of $12.05. The consensus estimate for Waters’ current full-year earnings is $12.00 per share. Jefferies Financial Group also issued estimates for Waters’ Q1 2023 earnings at $3.04 EPS, Q3 2023 earnings at $3.03 EPS and FY2023 earnings at $13.04 EPS.

Waters (NYSE:WATGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The medical instruments supplier reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.12. The firm had revenue of $714.30 million during the quarter, compared to analyst estimates of $706.77 million. Waters had a net margin of 24.21% and a return on equity of 203.31%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.60 earnings per share.

Several other analysts have also weighed in on WAT. Barclays began coverage on shares of Waters in a report on Tuesday, May 17th. They set an “overweight” rating and a $375.00 price objective for the company. Bank of America raised shares of Waters from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $320.00 to $330.00 in a report on Tuesday, May 17th. UBS Group raised their price objective on shares of Waters from $349.00 to $375.00 and gave the stock a “neutral” rating in a report on Thursday. Robert W. Baird raised their price objective on shares of Waters from $340.00 to $348.00 in a report on Wednesday. Finally, Cowen increased their price target on shares of Waters to $358.00 in a research note on Friday, May 20th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $350.14.

Waters Stock Performance

NYSE WAT opened at $337.87 on Friday. The firm has a market cap of $20.35 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 4.10 and a beta of 0.81. The company has a 50 day moving average of $334.92 and a 200-day moving average of $323.29. The company has a current ratio of 0.99, a quick ratio of 1.75 and a debt-to-equity ratio of 3.85. Waters has a 1-year low of $288.32 and a 1-year high of $428.22.

Hedge Funds Weigh In On Waters

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Waters by 0.5% in the first quarter. Vanguard Group Inc. now owns 6,689,208 shares of the medical instruments supplier’s stock worth $2,076,263,000 after purchasing an additional 30,274 shares during the period. BlackRock Inc. raised its holdings in Waters by 0.6% in the first quarter. BlackRock Inc. now owns 6,108,293 shares of the medical instruments supplier’s stock worth $1,895,953,000 after purchasing an additional 38,739 shares during the period. State Street Corp raised its holdings in Waters by 2.6% in the fourth quarter. State Street Corp now owns 2,781,227 shares of the medical instruments supplier’s stock worth $1,036,285,000 after purchasing an additional 70,524 shares during the period. Wellington Management Group LLP raised its holdings in Waters by 79.6% in the first quarter. Wellington Management Group LLP now owns 1,504,592 shares of the medical instruments supplier’s stock worth $467,011,000 after purchasing an additional 666,851 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Waters by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,183,053 shares of the medical instruments supplier’s stock worth $439,993,000 after purchasing an additional 21,757 shares during the period. 90.65% of the stock is owned by institutional investors.

Insider Activity

In other Waters news, Director Christopher A. Kuebler sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $328.78, for a total value of $1,315,120.00. Following the transaction, the director now directly owns 14,064 shares of the company’s stock, valued at $4,623,961.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.77% of the stock is owned by insiders.

Waters Company Profile

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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 and Estimates for Waters (NYSE:WAT)

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