Waters (WAT) Announces Quarterly Earnings Results

Waters (NYSE:WAT) released its earnings results on Tuesday. The medical instruments supplier reported $1.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($0.13), MarketWatch Earnings reports. The firm had revenue of $513.90 million during the quarter, compared to the consensus estimate of $545.82 million. Waters had a net margin of 24.54% and a return on equity of 34.18%. The company’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.59 EPS.

Shares of Waters stock opened at $241.04 on Tuesday. Waters has a 12-month low of $167.93 and a 12-month high of $255.21. The company has a market cap of $16.95 billion, a PE ratio of 29.08, a P/E/G ratio of 2.35 and a beta of 1.19. The company has a current ratio of 5.93, a quick ratio of 5.28 and a debt-to-equity ratio of 0.73.

In related news, Director Thomas P. Salice sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $231.59, for a total transaction of $463,180.00. Following the transaction, the director now directly owns 20,010 shares of the company’s stock, valued at approximately $4,634,115.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Terrence P. Kelly sold 1,312 shares of the business’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $232.03, for a total value of $304,423.36. Following the transaction, the senior vice president now directly owns 3,258 shares in the company, valued at $755,953.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,032 shares of company stock worth $24,284,760. Company insiders own 0.98% of the company’s stock.



Several hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of Waters by 5.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,863,115 shares of the medical instruments supplier’s stock worth $917,426,000 after acquiring an additional 267,576 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Waters by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 1,025,341 shares of the medical instruments supplier’s stock worth $193,104,000 after acquiring an additional 50,700 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Waters by 0.7% during the 4th quarter. Northern Trust Corp now owns 936,954 shares of the medical instruments supplier’s stock worth $176,756,000 after acquiring an additional 6,919 shares during the last quarter. Norges Bank acquired a new position in shares of Waters during the 4th quarter worth approximately $130,150,000. Finally, Morgan Stanley increased its holdings in shares of Waters by 188.1% during the 3rd quarter. Morgan Stanley now owns 527,562 shares of the medical instruments supplier’s stock worth $102,707,000 after acquiring an additional 344,432 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have commented on the company. Zacks Investment Research upgraded Waters from a “hold” rating to a “buy” rating and set a $256.00 target price on the stock in a research note on Wednesday, January 30th. BTIG Research upped their price objective on Waters to $260.00 and gave the stock a “buy” rating in a research note on Thursday, January 24th. Barclays reiterated a “hold” rating and set a $200.00 price objective on shares of Waters in a research note on Friday, January 25th. Needham & Company LLC began coverage on Waters in a research note on Wednesday, January 2nd. They set a “hold” rating and a $177.00 price objective on the stock. Finally, Bank of America upgraded Waters from an “underperform” rating to a “neutral” rating in a research note on Thursday, January 3rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $208.99.

ILLEGAL ACTIVITY NOTICE: “Waters (WAT) Announces Quarterly Earnings Results” was first reported by Dakota Financial News and is owned by of Dakota Financial News. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark laws. The legal version of this piece of content can be viewed at https://dakotafinancialnews.com/2019/04/23/waters-wat-announces-quarterly-earnings-results.html.

Waters Company Profile

Waters Corporation, a specialty measurement company, provides analytical workflow solutions in the United States, Europe, Asia, and internationally. It designs, manufactures, sells, and services high and ultra performance liquid chromatography technology, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.

Featured Story: Asset Allocation

Earnings History for Waters (NYSE:WAT)

Receive News & Ratings for Waters Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waters and related companies with MarketBeat.com's FREE daily email newsletter.