Waters Corporation (WAT) Announces Earnings Results
Waters Corporation (NYSE:WAT) announced its quarterly earnings results on Tuesday. The medical instruments supplier reported $1.77 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.03, Bloomberg Earnings reports. The business had revenue of $565.58 million for the quarter, compared to analysts’ expectations of $555.25 million. Waters Corporation had a return on equity of 23.91% and a net margin of 24.26%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.57 EPS.
Waters Corporation (WAT) opened at 187.55 on Tuesday. The stock has a market capitalization of $14.97 billion, a PE ratio of 28.27 and a beta of 0.82. Waters Corporation has a 1-year low of $133.35 and a 1-year high of $190.64. The stock’s 50 day moving average price is $184.38 and its 200 day moving average price is $178.99.
A number of equities analysts have commented on WAT shares. Bank of America Corporation reaffirmed a “neutral” rating and issued a $192.00 price target (up from $180.00) on shares of Waters Corporation in a research note on Friday, July 21st. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $205.00 price target (up from $195.00) on shares of Waters Corporation in a research note on Thursday, July 13th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $170.00 price target on shares of Waters Corporation in a research note on Friday, July 14th. Zacks Investment Research cut Waters Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $190.00 price target on shares of Waters Corporation in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $187.67.
In other news, Director Christopher A. Kuebler sold 3,500 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $179.67, for a total value of $628,845.00. Following the sale, the director now directly owns 17,849 shares in the company, valued at $3,206,929.83. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Rohit Khanna sold 18,400 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $185.78, for a total value of $3,418,352.00. Following the completion of the sale, the senior vice president now owns 22,477 shares in the company, valued at $4,175,777.06. The disclosure for this sale can be found here. Corporate insiders own 5.07% of the company’s stock.
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About Waters Corporation
Waters Corporation is an analytical instrument manufacturer. The Company operates through two segments: Waters and TA. It designs, manufactures, sells and services high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans.
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