Waters (NYSE:WAT – Get Rating) updated its third quarter 2022 earnings guidance on Tuesday. The company provided EPS guidance of $2.50-$2.60 for the period, compared to the consensus EPS estimate of $2.70. The company issued revenue guidance of $672.42 million-$685.60 million, compared to the consensus revenue estimate of $683.37 million. Waters also updated its FY 2022 guidance to $11.95-$12.05 EPS.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company raised shares of Waters from an underweight rating to an equal weight rating and lowered their price target for the company from $320.00 to $315.00 in a report on Monday, April 25th. Cowen raised their price target on shares of Waters to $358.00 in a research report on Friday, May 20th. Barclays assumed coverage on shares of Waters in a research report on Tuesday, May 17th. They issued an overweight rating and a $375.00 price target on the stock. Bank of America upgraded shares of Waters from an underperform rating to a neutral rating and lifted their price objective for the company from $320.00 to $330.00 in a research report on Tuesday, May 17th. Finally, Robert W. Baird lifted their price objective on shares of Waters from $340.00 to $348.00 in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Waters presently has an average rating of Hold and an average price target of $350.14.
Waters Price Performance
Shares of WAT traded up $3.31 during mid-day trading on Friday, hitting $337.87. The company’s stock had a trading volume of 282,253 shares, compared to its average volume of 399,790. The firm has a 50-day moving average price of $334.87 and a 200 day moving average price of $323.20. The stock has a market capitalization of $20.35 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 4.10 and a beta of 0.81. 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 has a fifty-two week low of $288.32 and a fifty-two week high of $428.22.
Insider Transactions at Waters
In other news, Director Christopher A. Kuebler sold 4,000 shares of Waters stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $328.78, for a total value of $1,315,120.00. Following the transaction, the director now directly owns 14,064 shares of the company’s stock, valued at $4,623,961.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.77% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Wetherby Asset Management Inc. increased its position in shares of Waters by 2.9% in the first quarter. Wetherby Asset Management Inc. now owns 1,645 shares of the medical instruments supplier’s stock worth $511,000 after acquiring an additional 46 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in Waters by 4.8% during the first quarter. Orion Portfolio Solutions LLC now owns 1,100 shares of the medical instruments supplier’s stock valued at $341,000 after purchasing an additional 50 shares in the last quarter. Mackenzie Financial Corp grew its position in Waters by 0.8% during the first quarter. Mackenzie Financial Corp now owns 6,676 shares of the medical instruments supplier’s stock valued at $2,072,000 after purchasing an additional 55 shares in the last quarter. Brinker Capital Investments LLC grew its position in Waters by 1.5% during the first quarter. Brinker Capital Investments LLC now owns 4,342 shares of the medical instruments supplier’s stock valued at $1,348,000 after purchasing an additional 63 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of Waters by 2.9% during the 1st quarter. Captrust Financial Advisors now owns 2,776 shares of the medical instruments supplier’s stock valued at $862,000 after acquiring an additional 78 shares in the last quarter. 90.65% of the stock is owned by hedge funds and other institutional investors.
Waters Company Profile
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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