Waters (NYSE:WAT) Releases FY24 Earnings Guidance

Waters (NYSE:WAT) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $11.55-$11.65 for the period, compared to the consensus estimate of $11.78. Waters also updated its FY 2024 guidance to 11.550-11.650 EPS.

Waters Stock Performance

Shares of WAT stock traded down $6.87 during trading hours on Friday, hitting $345.66. The company’s stock had a trading volume of 696,557 shares, compared to its average volume of 446,807. The company has a 50 day moving average of $303.98 and a 200 day moving average of $321.77. The stock has a market cap of $20.52 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 5.73 and a beta of 0.95. The company has a current ratio of 2.10, a quick ratio of 1.30 and a debt-to-equity ratio of 1.42. Waters has a 12-month low of $231.90 and a 12-month high of $367.21.

Waters (NYSE:WAT) last released its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported $2.63 EPS for the quarter, beating the consensus estimate of $2.55 by $0.08. The business had revenue of $709.00 million for the quarter, compared to the consensus estimate of $700.09 million. Waters had a net margin of 20.71% and a return on equity of 56.81%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.80 EPS. On average, sell-side analysts forecast that Waters will post 11.62 EPS for the current fiscal year.

Analysts Set New Price Targets

WAT has been the topic of a number of recent analyst reports. Robert W. Baird lowered their price target on shares of Waters from $319.00 to $312.00 and set a neutral rating on the stock in a report on Wednesday, May 8th. TD Cowen increased their price target on shares of Waters from $325.00 to $363.00 and gave the stock a hold rating in a report on Thursday. Leerink Partnrs raised shares of Waters from a hold rating to a strong-buy rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Waters from $330.00 to $310.00 and set a hold rating on the stock in a report on Thursday. Finally, Jefferies Financial Group initiated coverage on shares of Waters in a report on Monday, June 3rd. They set a hold rating and a $320.00 price target on the stock. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $310.58.

Insider Activity

In other Waters news, Director Christopher A. Kuebler sold 4,000 shares of Waters stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total transaction of $1,446,560.00. Following the completion of the sale, the director now directly owns 14,716 shares in the company, valued at $5,321,894.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Waters news, Director Richard H. Fearon acquired 1,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average price of $332.90 per share, with a total value of $332,900.00. Following the completion of the purchase, the director now owns 1,653 shares in the company, valued at approximately $550,283.70. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christopher A. Kuebler sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total transaction of $1,446,560.00. Following the completion of the transaction, the director now directly owns 14,716 shares of the company’s stock, valued at approximately $5,321,894.24. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

Waters Company Profile

Waters Corporation 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.