Waters (NYSE:WAT) Posts Earnings Results

Waters (NYSE:WAT) announced its earnings results on Tuesday. The medical instruments supplier reported $3.05 EPS 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 Performance

NYSE:WAT opened at $373.73 on Tuesday. The business’s fifty day moving average is $369.92 and its 200 day moving average is $344.99. The firm has a market cap of $36.70 billion, a price-to-earnings ratio of 47.49, a PEG ratio of 2.28 and a beta of 1.20. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.13 and a current ratio of 1.79. Waters has a 52-week low of $275.05 and a 52-week high of $414.15.

Analysts Set New Price Targets

WAT has been the subject of several research analyst reports. UBS Group boosted their price objective on Waters from $330.00 to $375.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Evercore reaffirmed an “outperform” rating and set a $410.00 target price on shares of Waters in a research report on Monday, July 6th. Piper Sandler assumed coverage on shares of Waters in a research note on Thursday, June 11th. They issued a “neutral” rating and a $400.00 price objective for the company. HSBC raised their price target on shares of Waters from $415.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Finally, Royal Bank Of Canada began coverage on Waters in a report on Wednesday, July 8th. They set an “outperform” rating and a $435.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Waters presently has an average rating of “Moderate Buy” and an average price target of $402.47.

Institutional Investors Weigh In On Waters

Several hedge funds and other institutional investors have recently modified their holdings of WAT. Zions Bancorporation National Association UT boosted its position in shares of Waters by 121.2% in the fourth quarter. Zions Bancorporation National Association UT now owns 73 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 40 shares during the period. DV Equities LLC purchased a new stake in Waters in the 4th quarter worth approximately $32,000. Itau Unibanco Holding S.A. boosted its holdings in Waters by 39.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 155 shares of the medical instruments supplier’s stock valued at $59,000 after purchasing an additional 44 shares during the period. MUFG Securities EMEA plc bought a new position in Waters in the 2nd quarter valued at $61,000. Finally, State of Wyoming purchased a new position in shares of Waters during the 2nd quarter valued at $75,000. 94.01% of the stock is currently owned by institutional investors.

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.