Waters (NYSE:WAT) Releases FY 2022 Earnings Guidance

Waters (NYSE:WATGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $11.95-$12.05 for the period, compared to the consensus estimate of $12.08. The company issued revenue guidance of $2.91 billion-$2.94 billion, compared to the consensus revenue estimate of $2.95 billion. Waters also updated its FY22 guidance to $11.95-12.05 EPS.

Waters Price Performance

Waters stock traded up $3.31 during midday trading on Friday, reaching $337.87. The company had a trading volume of 282,253 shares, compared to its average volume of 399,790. The company has a market capitalization of $20.35 billion, a P/E ratio of 29.28, a P/E/G ratio of 4.10 and a beta of 0.81. Waters has a 12-month low of $288.32 and a 12-month high of $428.22. The firm’s fifty day simple moving average is $334.87 and its 200-day simple moving average is $323.20. The company has a debt-to-equity ratio of 3.85, a current ratio of 0.99 and a quick ratio of 1.75.

Waters (NYSE:WATGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The medical instruments supplier reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.12. The firm had revenue of $714.30 million for the quarter, compared to analyst estimates of $706.77 million. Waters had a net margin of 24.21% and a return on equity of 203.31%. Waters’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company posted $2.60 EPS. As a group, equities analysts anticipate that Waters will post 12 EPS for the current year.

Wall Street Analysts Forecast Growth

WAT has been the topic of a number of research reports. Bank of America raised shares of Waters from an underperform rating to a neutral rating and raised their price target for the company from $320.00 to $330.00 in a research note on Tuesday, May 17th. Cowen raised their target price on shares of Waters to $358.00 in a research note on Friday, May 20th. Robert W. Baird raised their target price on shares of Waters from $340.00 to $348.00 in a research note on Wednesday. UBS Group raised their target price on shares of Waters from $349.00 to $375.00 and gave the stock a neutral rating in a research note on Thursday. Finally, Wells Fargo & Company raised shares of Waters from an underweight rating to an equal weight rating and decreased their target price for the stock from $320.00 to $315.00 in a research note on Monday, April 25th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Waters currently has a consensus rating of Hold and an average price target of $350.14.

Insider Transactions at Waters

In other news, Director Christopher A. Kuebler sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $328.78, for a total transaction of $1,315,120.00. Following the completion of the sale, the director now owns 14,064 shares in the company, valued at approximately $4,623,961.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.77% of the company’s stock.

Institutional Trading of Waters

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Waters by 79.6% in the 1st quarter. Wellington Management Group LLP now owns 1,504,592 shares of the medical instruments supplier’s stock valued at $467,011,000 after purchasing an additional 666,851 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Waters by 568.6% in the 1st quarter. Renaissance Technologies LLC now owns 104,300 shares of the medical instruments supplier’s stock valued at $32,374,000 after purchasing an additional 88,700 shares during the last quarter. Tikehau Investment Management acquired a new stake in Waters in the 1st quarter valued at approximately $18,313,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in Waters by 560.3% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 47,964 shares of the medical instruments supplier’s stock valued at $14,888,000 after purchasing an additional 40,700 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Waters by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 6,689,208 shares of the medical instruments supplier’s stock valued at $2,076,263,000 after purchasing an additional 30,274 shares during the last quarter. Institutional investors and hedge funds own 90.65% of the company’s stock.

Waters Company Profile

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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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Earnings History and Estimates for Waters (NYSE:WAT)

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