Waters Co. (NYSE:WAT - Get Rating) - Jefferies Financial Group dropped their FY2022 EPS estimates for shares of Waters in a report released 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:WAT - Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The medical instruments supplier reported $2.75 EPS for the quarter, beating the consensus estimate of $2.63 by $0.12. The business had revenue of $714.30 million during the quarter, compared to the consensus estimate of $706.77 million. Waters had a net margin of 24.21% and a return on equity of 203.31%. The business's revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.60 EPS.
Several other brokerages have also recently issued reports on WAT. UBS Group upped their target price on shares of Waters from $349.00 to $375.00 and gave the company a "neutral" rating in a research report on Thursday. Wells Fargo & Company upgraded 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. Bank of America upgraded shares of Waters from an "underperform" rating to a "neutral" rating and upped their target price for the company from $320.00 to $330.00 in a research report on Tuesday, May 17th. Robert W. Baird upped their target price on shares of Waters from $340.00 to $348.00 in a research report on Wednesday. Finally, Barclays assumed coverage on shares of Waters in a research report on Tuesday, May 17th. They issued an "overweight" rating and a $375.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $350.14.
Waters Stock Down 1.3 %
Shares of NYSE WAT opened at $334.56 on Friday. The firm's 50-day moving average price is $334.87 and its 200-day moving average price is $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. The stock has a market capitalization of $20.15 billion, a price-to-earnings ratio of 29.19, a P/E/G ratio of 4.12 and a beta of 0.81. Waters has a 12-month low of $288.32 and a 12-month high of $428.22.
Hedge Funds Weigh In On Waters
A number of hedge funds have recently added to or reduced their stakes in the stock. Kinneret Advisory LLC grew its stake in Waters by 2.2% in the 2nd quarter. Kinneret Advisory LLC now owns 11,674 shares of the medical instruments supplier's stock worth $3,864,000 after acquiring an additional 247 shares in the last quarter. Fifth Third Bancorp grew its stake in Waters by 5.9% in the 2nd quarter. Fifth Third Bancorp now owns 975 shares of the medical instruments supplier's stock worth $323,000 after acquiring an additional 54 shares in the last quarter. Aviva PLC grew its stake in Waters by 42.4% in the 2nd quarter. Aviva PLC now owns 82,666 shares of the medical instruments supplier's stock worth $27,361,000 after acquiring an additional 24,608 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Waters by 7.5% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 34,122 shares of the medical instruments supplier's stock worth $11,294,000 after acquiring an additional 2,380 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Waters by 18.6% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 116,943 shares of the medical instruments supplier's stock valued at $38,706,000 after purchasing an additional 18,318 shares in the last quarter. 90.65% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Waters news, Director Christopher A. Kuebler sold 4,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $4,623,961.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.77% of the stock is currently owned by corporate insiders.
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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