William Blair Weighs in on Waters Corporation’s FY2017 Earnings (WAT)

Waters Corporation (NYSE:WAT) – Equities researchers at William Blair increased their FY2017 EPS estimates for Waters Corporation in a research report issued on Thursday. William Blair analyst A. Murphy now forecasts that the medical instruments supplier will earn $7.36 per share for the year, up from their previous forecast of $7.29. William Blair also issued estimates for Waters Corporation’s Q4 2017 earnings at $2.42 EPS and FY2018 earnings at $7.90 EPS.

WAT has been the subject of a number of other reports. Zacks Investment Research raised shares of Waters Corporation from a “hold” rating to a “buy” rating and set a $194.00 price target for the company in a research note on Friday. BidaskClub lowered shares of Waters Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday. Bank of America Corp reissued a “neutral” rating and set a $192.00 target price (up from $180.00) on shares of Waters Corporation in a research note on Friday, July 21st. Deutsche Bank AG reissued a “buy” rating and set a $183.00 target price (up from $166.00) on shares of Waters Corporation in a research note on Saturday, April 29th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $205.00 target price (up from $195.00) on shares of Waters Corporation in a research note on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Waters Corporation currently has a consensus rating of “Hold” and a consensus target price of $186.00.

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Shares of Waters Corporation (WAT) opened at 173.44 on Monday. The firm has a market cap of $13.87 billion, a P/E ratio of 26.14 and a beta of 0.85. Waters Corporation has a 52 week low of $133.35 and a 52 week high of $187.65. The stock’s 50 day moving average is $182.41 and its 200 day moving average is $165.85.

Waters Corporation (NYSE:WAT) last announced its earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.05. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. The business had revenue of $558.30 million during the quarter, compared to the consensus estimate of $553.22 million. During the same quarter in the prior year, the firm earned $1.58 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year.

Several large investors have recently added to or reduced their stakes in the stock. Diversified Trust Co boosted its stake in shares of Waters Corporation by 0.4% in the second quarter. Diversified Trust Co now owns 1,285 shares of the medical instruments supplier’s stock worth $236,000 after buying an additional 5 shares in the last quarter. Cleararc Capital Inc. raised its position in shares of Waters Corporation by 0.6% in the first quarter. Cleararc Capital Inc. now owns 1,950 shares of the medical instruments supplier’s stock valued at $305,000 after buying an additional 11 shares in the last quarter. Creative Planning raised its position in shares of Waters Corporation by 1.6% in the first quarter. Creative Planning now owns 744 shares of the medical instruments supplier’s stock valued at $116,000 after buying an additional 12 shares in the last quarter. Lowe Brockenbrough & Co. Inc. raised its position in shares of Waters Corporation by 0.8% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 1,528 shares of the medical instruments supplier’s stock valued at $281,000 after buying an additional 12 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Waters Corporation by 4.4% in the first quarter. Quadrant Capital Group LLC now owns 822 shares of the medical instruments supplier’s stock valued at $124,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 91.87% of the company’s stock.

In other news, SVP Terrence P. Kelly sold 19,580 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $173.67, for a total transaction of $3,400,458.60. Following the sale, the senior vice president now owns 6,398 shares in the company, valued at $1,111,140.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Terrence P. Kelly sold 8,997 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $173.59, for a total transaction of $1,561,789.23. Following the sale, the senior vice president now owns 11,464 shares in the company, valued at approximately $1,990,035.76. The disclosure for this sale can be found here. Insiders have sold 127,078 shares of company stock worth $22,657,923 in the last 90 days. 5.07% of the stock is owned by company insiders.

Waters Corporation announced that its board has initiated a share repurchase plan on Thursday, May 11th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical instruments supplier to purchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Waters Corporation Company Profile

Waters Corporation is an analytical instrument manufacturer. The Company operates through two segments: Waters and TA. It designs, manufactures, sells and services high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans.

Earnings History and Estimates for Waters Corporation (NYSE:WAT)

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