Waters Co. (NYSE:WAT – Get Rating) – Research analysts at SVB Leerink cut their Q3 2022 earnings estimates for shares of Waters in a note issued to investors on Tuesday, August 2nd. SVB Leerink analyst P. Souda now forecasts that the medical instruments supplier will post earnings of $2.58 per share for the quarter, down from their prior estimate of $2.69. The consensus estimate for Waters’ current full-year earnings is $12.00 per share. SVB Leerink also issued estimates for Waters’ Q4 2022 earnings at $3.88 EPS, FY2022 earnings at $12.00 EPS, Q1 2023 earnings at $2.91 EPS, Q2 2023 earnings at $3.11 EPS, Q3 2023 earnings at $3.01 EPS, Q4 2023 earnings at $3.83 EPS and FY2023 earnings at $12.86 EPS.
A number of other research firms have also commented on WAT. Bank of America raised shares of Waters from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $320.00 to $330.00 in a report on Tuesday, May 17th. Barclays began coverage on shares of Waters in a research report on Tuesday, May 17th. They set an “overweight” rating and a $375.00 price target on the stock. Wells Fargo & Company raised shares of Waters from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $320.00 to $315.00 in a research report on Monday, April 25th. Cowen lifted their price target on shares of Waters to $358.00 in a research report on Friday, May 20th. Finally, Robert W. Baird lifted their price target on shares of Waters from $340.00 to $348.00 in a research report on Wednesday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $350.14.
Waters Price Performance
Waters (NYSE:WAT – Get Rating) last released its earnings results on Tuesday, August 2nd. The medical instruments supplier reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.12. Waters had a net margin of 24.21% and a return on equity of 203.31%. The firm had revenue of $714.30 million during the quarter, compared to analyst estimates of $706.77 million. During the same quarter in the previous year, the business earned $2.60 EPS. The business’s quarterly revenue was up 4.8% compared to the same quarter last year.
Institutional Investors Weigh In On Waters
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Keybank National Association OH lifted its position in Waters by 1.6% during the 4th quarter. Keybank National Association OH now owns 2,042 shares of the medical instruments supplier’s stock worth $761,000 after buying an additional 32 shares in the last quarter. MainStreet Investment Advisors LLC increased its stake in shares of Waters by 0.7% during the 1st quarter. MainStreet Investment Advisors LLC now owns 4,757 shares of the medical instruments supplier’s stock worth $1,476,000 after purchasing an additional 35 shares during the last quarter. Camden Capital LLC increased its stake in shares of Waters by 3.3% during the 4th quarter. Camden Capital LLC now owns 1,122 shares of the medical instruments supplier’s stock worth $418,000 after purchasing an additional 36 shares during the last quarter. FDx Advisors Inc. increased its stake in shares of Waters by 5.0% during the 1st quarter. FDx Advisors Inc. now owns 776 shares of the medical instruments supplier’s stock worth $241,000 after purchasing an additional 37 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of Waters by 6.1% during the 1st quarter. Signaturefd LLC now owns 660 shares of the medical instruments supplier’s stock worth $205,000 after purchasing an additional 38 shares during the last quarter. 90.65% of the stock is owned by institutional investors.
Insider Activity at Waters
In related news, Director Christopher A. Kuebler sold 4,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 14,064 shares of the company’s stock, valued at approximately $4,623,961.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.77% of the stock is currently owned by 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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