Waters (NYSE:WAT) Releases Q3 2022 Earnings Guidance

Waters (NYSE:WATGet Rating) updated its third quarter 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.50-$2.60 for the period, compared to the consensus estimate of $2.70. The company issued revenue guidance of $672.42 million-$685.60 million, compared to the consensus revenue estimate of $683.37 million. Waters also updated its FY 2022 guidance to $11.95-$12.05 EPS.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Bank of America upgraded Waters from an underperform rating to a neutral rating and boosted their target price for the stock from $320.00 to $330.00 in a research report on Tuesday, May 17th. Robert W. Baird upped their price target on Waters from $340.00 to $348.00 in a report on Wednesday. Wells Fargo & Company upgraded Waters from an underweight rating to an equal weight rating and lowered their price target for the stock from $320.00 to $315.00 in a report on Monday, April 25th. Cowen upped their price target on Waters to $358.00 in a report on Friday, May 20th. Finally, Barclays assumed coverage on Waters in a report on Tuesday, May 17th. They issued an overweight rating and a $375.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Waters presently has a consensus rating of Hold and an average target price of $350.14.

Waters Trading Up 1.0 %

Shares of Waters stock traded up $3.31 during trading hours on Friday, reaching $337.87. 282,253 shares of the company’s stock were exchanged, compared to its average volume of 399,790. Waters has a 52-week low of $288.32 and a 52-week high of $428.22. The firm has a market capitalization of $20.35 billion, a price-to-earnings ratio of 29.28, a price-to-earnings-growth ratio of 4.10 and a beta of 0.81. The company has a fifty day moving average of $334.87 and a 200-day moving average of $323.20. 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 (NYSE:WATGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The medical instruments supplier reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.12. The company had revenue of $714.30 million for the quarter, compared to analyst estimates of $706.77 million. Waters had a return on equity of 203.31% and a net margin of 24.21%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.60 EPS. Sell-side analysts forecast that Waters will post 12 EPS for the current fiscal year.

Insider Transactions at Waters

In related news, Director Christopher A. Kuebler sold 4,000 shares of the stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $328.78, for a total value of $1,315,120.00. Following the completion of the sale, the director now directly owns 14,064 shares in the company, valued at approximately $4,623,961.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.77% of the company’s stock.

Institutional Trading of Waters

Large investors have recently added to or reduced their stakes in the stock. Covestor Ltd grew its stake in shares of Waters by 122.6% during the first quarter. Covestor Ltd now owns 345 shares of the medical instruments supplier’s stock valued at $107,000 after acquiring an additional 190 shares in the last quarter. Group One Trading L.P. acquired a new stake in shares of Waters during the first quarter valued at about $135,000. qPULA Trading Management LP acquired a new stake in shares of Waters during the first quarter valued at about $211,000. Orion Portfolio Solutions LLC grew its stake in shares of Waters by 4.8% during the first quarter. Orion Portfolio Solutions LLC now owns 1,100 shares of the medical instruments supplier’s stock valued at $341,000 after acquiring an additional 50 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Waters by 132.8% during the first quarter. Brown Brothers Harriman & Co. now owns 1,215 shares of the medical instruments supplier’s stock valued at $377,000 after acquiring an additional 693 shares in the last quarter. 90.65% of the stock is currently owned by institutional investors and hedge funds.

About Waters

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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.

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Earnings History and Estimates for Waters (NYSE:WAT)

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