Zacks Research Comments on Waters Co.’s Q2 2024 Earnings (NYSE:WAT)

Waters Co. (NYSE:WATFree Report) – Analysts at Zacks Research cut their Q2 2024 earnings per share (EPS) estimates for Waters in a research note issued on Tuesday, May 28th. Zacks Research analyst S. Mete now forecasts that the medical instruments supplier will earn $2.60 per share for the quarter, down from their previous forecast of $2.77. The consensus estimate for Waters’ current full-year earnings is $11.86 per share. Zacks Research also issued estimates for Waters’ Q2 2025 earnings at $2.75 EPS.

Waters (NYSE:WATGet Free Report) last issued its earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.11. The firm had revenue of $636.80 million for the quarter, compared to analyst estimates of $635.57 million. Waters had a return on equity of 66.59% and a net margin of 20.75%. The business’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.49 earnings per share.

A number of other analysts also recently issued reports on WAT. Barclays dropped their price target on Waters from $300.00 to $295.00 and set an “underweight” rating for the company in a research report on Wednesday, May 8th. Robert W. Baird decreased their price target on shares of Waters from $319.00 to $312.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Stifel Nicolaus lifted their price objective on shares of Waters from $330.00 to $332.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. TD Cowen increased their target price on Waters from $350.00 to $358.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Finally, Evercore ISI upped their price objective on Waters from $320.00 to $340.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $305.78.

Get Our Latest Analysis on Waters

Waters Stock Up 0.4 %

WAT stock opened at $308.90 on Friday. The stock has a 50-day simple moving average of $330.45 and a two-hundred day simple moving average of $321.81. Waters has a twelve month low of $231.90 and a twelve month high of $367.21. The firm has a market capitalization of $18.32 billion, a PE ratio of 30.31, a PEG ratio of 4.90 and a beta of 0.98. The company has a quick ratio of 1.30, a current ratio of 1.94 and a debt-to-equity ratio of 1.60.

Institutional Investors Weigh In On Waters

Institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Waters by 9.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 55,889 shares of the medical instruments supplier’s stock worth $15,325,000 after buying an additional 4,936 shares in the last quarter. Barclays PLC boosted its stake in shares of Waters by 8.1% during the 3rd quarter. Barclays PLC now owns 133,069 shares of the medical instruments supplier’s stock worth $36,488,000 after purchasing an additional 9,922 shares during the period. Metis Global Partners LLC raised its position in Waters by 10.0% in the 3rd quarter. Metis Global Partners LLC now owns 4,470 shares of the medical instruments supplier’s stock worth $1,226,000 after purchasing an additional 406 shares during the period. New York State Common Retirement Fund lifted its stake in Waters by 0.9% in the third quarter. New York State Common Retirement Fund now owns 214,252 shares of the medical instruments supplier’s stock worth $58,750,000 after purchasing an additional 1,991 shares during the last quarter. Finally, Robeco Schweiz AG boosted its position in shares of Waters by 14.7% during the third quarter. Robeco Schweiz AG now owns 315,225 shares of the medical instruments supplier’s stock valued at $86,438,000 after buying an additional 40,342 shares during the period. 94.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Richard H. Fearon purchased 1,000 shares of Waters stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average cost of $332.90 per share, for a total transaction of $332,900.00. Following the completion of the purchase, the director now directly owns 1,653 shares of the company’s stock, valued at approximately $550,283.70. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Waters news, Director Christopher A. Kuebler sold 4,000 shares of Waters stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total transaction of $1,446,560.00. Following the transaction, the director now owns 14,716 shares of the company’s stock, valued at $5,321,894.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard H. Fearon acquired 1,000 shares of Waters stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average cost of $332.90 per share, with a total value of $332,900.00. Following the completion of the purchase, the director now owns 1,653 shares of the company’s stock, valued at $550,283.70. The disclosure for this purchase can be found here. Corporate insiders own 0.82% of the company’s stock.

About Waters

(Get Free Report)

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.

See Also

Earnings History and Estimates for Waters (NYSE:WAT)

Receive News & Ratings for Waters Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waters and related companies with MarketBeat.com's FREE daily email newsletter.