$588.12 Million in Sales Expected for Waters Co. (WAT) This Quarter

Equities research analysts expect Waters Co. (NYSE:WAT) to post $588.12 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Waters’ earnings, with estimates ranging from $585.40 million to $591.00 million. Waters reported sales of $565.58 million during the same quarter last year, which indicates a positive year over year growth rate of 4%. The firm is expected to report its next quarterly earnings report on Tuesday, October 23rd.

According to Zacks, analysts expect that Waters will report full-year sales of $2.44 billion for the current financial year, with estimates ranging from $2.42 billion to $2.45 billion. For the next year, analysts expect that the business will report sales of $2.56 billion per share, with estimates ranging from $2.52 billion to $2.58 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Waters.

Waters (NYSE:WAT) last issued its quarterly earnings results on Tuesday, July 24th. The medical instruments supplier reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. The business had revenue of $596.20 million during the quarter, compared to the consensus estimate of $598.73 million. Waters had a net margin of 2.12% and a return on equity of 27.85%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.76 earnings per share.

A number of equities research analysts recently issued reports on WAT shares. Bank of America downgraded shares of Waters from a “neutral” rating to an “underperform” rating and set a $190.00 target price for the company. in a report on Monday, July 16th. Morgan Stanley lowered their target price on shares of Waters from $218.00 to $200.00 and set an “equal weight” rating for the company in a report on Wednesday, April 25th. Cowen restated a “hold” rating and issued a $215.00 target price on shares of Waters in a report on Wednesday, April 25th. Barclays lowered their target price on shares of Waters from $208.00 to $200.00 and set an “equal weight” rating for the company in a report on Wednesday, April 25th. Finally, ValuEngine downgraded shares of Waters from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $206.27.

In other Waters news, SVP Michael C. Harrington sold 15,000 shares of Waters stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $194.64, for a total transaction of $2,919,600.00. Following the transaction, the senior vice president now directly owns 17,037 shares of the company’s stock, valued at $3,316,081.68. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Michael F. Silveira sold 3,521 shares of Waters stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $190.77, for a total transaction of $671,701.17. Following the transaction, the vice president now directly owns 4,470 shares in the company, valued at $852,741.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,611 shares of company stock worth $4,000,460. 0.98% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Chilton Investment Co. LLC lifted its position in shares of Waters by 258.1% during the second quarter. Chilton Investment Co. LLC now owns 15,817 shares of the medical instruments supplier’s stock worth $3,062,000 after purchasing an additional 11,400 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in shares of Waters by 62.9% during the second quarter. Ontario Teachers Pension Plan Board now owns 155,990 shares of the medical instruments supplier’s stock worth $30,198,000 after purchasing an additional 60,239 shares in the last quarter. North Star Asset Management Inc. lifted its position in shares of Waters by 12.2% during the second quarter. North Star Asset Management Inc. now owns 27,725 shares of the medical instruments supplier’s stock worth $5,367,000 after purchasing an additional 3,016 shares in the last quarter. Federated Investors Inc. PA lifted its position in shares of Waters by 602.7% during the second quarter. Federated Investors Inc. PA now owns 18,412 shares of the medical instruments supplier’s stock worth $3,564,000 after purchasing an additional 15,792 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of Waters by 37.3% during the second quarter. Great West Life Assurance Co. Can now owns 76,611 shares of the medical instruments supplier’s stock worth $14,836,000 after purchasing an additional 20,809 shares in the last quarter. 91.85% of the stock is currently owned by institutional investors and hedge funds.

Waters opened at $189.99 on Friday, Marketbeat.com reports. Waters has a 1 year low of $175.07 and a 1 year high of $220.20. The company has a market capitalization of $15.00 billion, a P/E ratio of 25.37, a P/E/G ratio of 2.38 and a beta of 0.98. The company has a quick ratio of 2.39, a current ratio of 6.58 and a debt-to-equity ratio of 0.58.

Waters declared that its Board of Directors has authorized a share repurchase plan on Tuesday, April 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the medical instruments supplier to purchase up to 18.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.

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