Leerink Partnrs Equities Analysts Decrease Earnings Estimates for Waters Co. (NYSE:WAT)

Waters Co. (NYSE:WAT - Free Report) - Leerink Partnrs decreased their Q2 2024 earnings per share estimates for Waters in a report released on Tuesday, May 7th. Leerink Partnrs analyst P. Souda now expects that the medical instruments supplier will post earnings of $2.54 per share for the quarter, down from their prior estimate 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.

Several other equities research analysts have also recently issued reports on WAT. 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 report on Wednesday. Evercore ISI raised their target price on Waters from $320.00 to $340.00 and gave the stock an "in-line" rating in a research report on Thursday, April 4th. TD Cowen upped their price target on shares of Waters from $350.00 to $358.00 and gave the company a "hold" rating in a research report on Wednesday. Stifel Nicolaus boosted their target price on shares of Waters from $330.00 to $332.00 and gave the company a "hold" rating in a research report on Wednesday. Finally, Robert W. Baird dropped their price target on shares of Waters from $319.00 to $312.00 and set a "neutral" rating on the stock in a research note 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, the company presently has an average rating of "Hold" and an average target price of $306.70.

Waters Stock Performance

WAT traded up $14.69 during midday trading on Friday, hitting $351.11. 791,032 shares of the company traded hands, compared to its average volume of 439,872. The company has a quick ratio of 1.57, a current ratio of 2.22 and a debt-to-equity ratio of 2.00. The company's 50-day moving average is $332.93 and its 200 day moving average is $311.03. Waters has a 52 week low of $231.90 and a 52 week high of $363.80. The firm has a market capitalization of $20.82 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 6.36 and a beta of 0.98.

Waters (NYSE:WAT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share for the quarter, topping 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 firm had revenue of $636.80 million during the quarter, compared to analysts' expectations of $635.57 million. During the same quarter in the previous year, the business earned $2.49 earnings per share. The company's revenue was down 7.0% on a year-over-year basis.

Hedge Funds Weigh In On Waters

A number of large investors have recently bought and sold shares of WAT. TIAA Trust National Association lifted its position in shares of Waters by 21.6% during the first quarter. TIAA Trust National Association now owns 1,064 shares of the medical instruments supplier's stock worth $366,000 after purchasing an additional 189 shares during the last quarter. Vanguard Group Inc. boosted its position in Waters by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,879,316 shares of the medical instruments supplier's stock valued at $2,368,067,000 after buying an additional 41,654 shares during the period. Orion Portfolio Solutions LLC grew its stake in Waters by 48.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 8,950 shares of the medical instruments supplier's stock worth $3,081,000 after acquiring an additional 2,908 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Waters by 29.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 72,360 shares of the medical instruments supplier's stock valued at $24,908,000 after purchasing an additional 16,471 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its holdings in Waters by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 69,979 shares of the medical instruments supplier's stock worth $24,089,000 after purchasing an additional 5,655 shares during the period. Hedge funds and other institutional investors own 94.01% of the company's stock.

Insider Activity

In related news, Director Linda Baddour sold 500 shares of the company's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $355.54, for a total transaction of $177,770.00. Following the transaction, the director now directly owns 2,250 shares in the company, valued at approximately $799,965. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.82% of the company's stock.

Waters Company Profile

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.