Leerink Partnrs Analysts Raise Earnings Estimates for Waters

Waters Co. (NYSE:WAT) – Research analysts at Leerink Partnrs increased their FY2024 earnings per share estimates for shares of Waters in a report released on Sunday, November 3rd. Leerink Partnrs analyst P. Souda now anticipates that the medical instruments supplier will post earnings per share of $11.77 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 $11.67 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) last released its quarterly earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.25. Waters had a return on equity of 49.93% and a net margin of 21.43%. The business had revenue of $740.30 million during the quarter, compared to the consensus estimate of $712.99 million. During the same period in the previous year, the company posted $2.84 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year.

A number of other brokerages also recently issued reports on WAT. TD Cowen boosted their price objective on shares of Waters from $363.00 to $410.00 and gave the company a “hold” rating in a research report on Monday. The Goldman Sachs Group raised Waters to a “hold” rating in a report on Wednesday, July 31st. Cfra set a $389.00 price objective on Waters in a research note on Thursday, October 17th. Evercore ISI lifted their price objective on Waters from $335.00 to $355.00 and gave the company an “in-line” rating in a research report on Tuesday, October 1st. Finally, Sanford C. Bernstein increased their target price on shares of Waters from $345.00 to $360.00 and gave the stock a “market perform” rating in a report on Monday. One analyst has rated the stock with a sell rating, ten have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $365.85.

Waters Stock Performance

Shares of NYSE WAT opened at $386.59 on Tuesday. Waters has a 12-month low of $241.95 and a 12-month high of $393.38. The firm has a market capitalization of $22.96 billion, a price-to-earnings ratio of 36.90, a price-to-earnings-growth ratio of 7.50 and a beta of 0.97. The company has a current ratio of 2.02, a quick ratio of 0.55 and a debt-to-equity ratio of 1.14. The firm has a 50 day moving average of $344.06 and a 200 day moving average of $326.73.

Hedge Funds Weigh In On Waters

Hedge funds and other institutional investors have recently modified their holdings of the stock. OneDigital Investment Advisors LLC lifted its stake in Waters by 3.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 851 shares of the medical instruments supplier’s stock worth $306,000 after purchasing an additional 31 shares in the last quarter. Linscomb Wealth Inc. lifted its position in shares of Waters by 0.4% in the second quarter. Linscomb Wealth Inc. now owns 7,841 shares of the medical instruments supplier’s stock worth $2,275,000 after buying an additional 34 shares in the last quarter. Johnson Investment Counsel Inc. boosted its stake in Waters by 3.2% during the second quarter. Johnson Investment Counsel Inc. now owns 1,084 shares of the medical instruments supplier’s stock valued at $314,000 after buying an additional 34 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in Waters by 3.0% during the 2nd quarter. Summit Trail Advisors LLC now owns 1,170 shares of the medical instruments supplier’s stock valued at $339,000 after buying an additional 34 shares in the last quarter. Finally, Retirement Systems of Alabama increased its stake in Waters by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 13,087 shares of the medical instruments supplier’s stock worth $3,797,000 after acquiring an additional 37 shares during the last quarter. Institutional investors own 94.01% 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.