Leerink Partnrs Issues Positive Forecast for Waters Earnings

Waters Co. (NYSE:WAT - Free Report) - Stock analysts at Leerink Partnrs lifted their FY2024 earnings per share estimates for Waters in a research note issued to investors on Sunday, November 3rd. Leerink Partnrs analyst P. Souda now expects that the medical instruments supplier will earn $11.77 per share for the year, up from their prior forecast of $11.65. Leerink Partnrs currently has a "Strong-Buy" rating on the stock. The consensus estimate for Waters' current full-year earnings is $11.63 per share. Leerink Partnrs also issued estimates for Waters' Q4 2024 earnings at $4.00 EPS, Q3 2025 earnings at $3.12 EPS and Q4 2025 earnings at $4.35 EPS.

Waters (NYSE:WAT - Get Free Report) last posted its earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.25. The firm had revenue of $740.30 million during the quarter, compared to analyst estimates of $712.99 million. Waters had a net margin of 21.43% and a return on equity of 49.93%. The business's quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.84 EPS.

Other analysts have also issued reports about the company. Sanford C. Bernstein raised their price objective on Waters from $345.00 to $360.00 and gave the company a "market perform" rating in a report on Monday. TD Cowen boosted their price target on shares of Waters from $363.00 to $410.00 and gave the stock a "hold" rating in a report on Monday. Cfra set a $389.00 price objective on shares of Waters in a report on Thursday, October 17th. JPMorgan Chase & Co. boosted their target price on shares of Waters from $340.00 to $380.00 and gave the stock a "neutral" rating in a research note on Monday. Finally, Stifel Nicolaus raised their price target on shares of Waters from $332.00 to $360.00 and gave the company a "hold" rating in a research note on Monday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $365.85.

Waters Price Performance

Shares of WAT stock traded down $0.25 during mid-day trading on Tuesday, hitting $387.09. 533,008 shares of the stock were exchanged, compared to its average volume of 431,912. The company has a quick ratio of 0.55, a current ratio of 0.83 and a debt-to-equity ratio of 1.42. Waters has a 52-week low of $241.95 and a 52-week high of $391.00. The firm has a fifty day moving average of $343.05 and a 200 day moving average of $326.09. The company has a market cap of $22.98 billion, a PE ratio of 36.89, a price-to-earnings-growth ratio of 7.59 and a beta of 0.97.

Hedge Funds Weigh In On Waters

Several institutional investors and hedge funds have recently bought and sold shares of WAT. Itau Unibanco Holding S.A. purchased a new stake in shares of Waters during the 2nd quarter valued at approximately $33,000. Kennebec Savings Bank purchased a new stake in Waters in the third quarter valued at $33,000. Blue Trust Inc. raised its position in Waters by 190.2% in the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier's stock valued at $35,000 after purchasing an additional 78 shares during the period. Ashton Thomas Securities LLC acquired a new position in Waters in the third quarter valued at about $35,000. Finally, TFC Financial Management Inc. boosted its stake in Waters by 19,900.0% during the second quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier's stock worth $58,000 after buying an additional 199 shares during the period. 94.01% of the stock is currently owned by institutional investors and hedge funds.

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.