Waters (NYSE:WAT) Issues Quarterly Earnings Results

Waters (NYSE:WAT) announced its earnings results on Tuesday. The medical instruments supplier reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.11, Briefing.com reports. Waters had a net margin of 21.72% and a return on equity of 81.30%. The firm had revenue of $636.80 million for the quarter, compared to analyst estimates of $635.57 million. During the same quarter in the previous year, the firm posted $2.49 EPS. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. Waters updated its Q2 guidance to $2.50-2.60 EPS and its FY24 guidance to $11.75-12.05 EPS.

Waters Stock Up 0.4 %

Shares of NYSE WAT traded up $1.42 during midday trading on Wednesday, hitting $327.48. The stock had a trading volume of 96,731 shares, compared to its average volume of 416,884. The company has a market cap of $19.42 billion, a P/E ratio of 30.06, a PEG ratio of 6.39 and a beta of 0.98. 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 business’s 50 day moving average is $333.23 and its 200-day moving average is $310.76. Waters has a 52 week low of $231.90 and a 52 week high of $363.80.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WAT. Barclays upped their target price on Waters from $275.00 to $300.00 and gave the stock an “underweight” rating in a report on Monday, February 12th. Stifel Nicolaus increased their price objective on Waters from $330.00 to $332.00 and gave the stock a “hold” rating in a report on Wednesday. Evercore ISI raised their price objective on Waters from $320.00 to $340.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Finally, Robert W. Baird reduced their target price on shares of Waters from $319.00 to $312.00 and set a “neutral” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $301.56.

Insider Activity at Waters

In other Waters news, Director Linda Baddour sold 500 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $355.54, for a total transaction of $177,770.00. Following the sale, the director now directly owns 2,250 shares in the company, valued at approximately $799,965. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.82% of the stock is owned by insiders.

About Waters

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.