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Waters Corporation (NYSE:WAT), a leading specialty measurement company with a market capitalization of $24.8 billion, has reached a new 52-week high, with its stock price soaring to $420.32. According to InvestingPro analysis, the company currently trades at a premium to its Fair Value, with a P/E ratio of 38.3x. This milestone reflects a significant uptrend in the company’s market performance, underpinned by a robust 1-year change of 31.28%. Investors have shown increased confidence in Waters Corp ’s strategic initiatives and growth prospects, propelling the stock to new heights. The company maintains a healthy financial position with a "GOOD" overall health score from InvestingPro, supported by strong profitability metrics including a gross margin of nearly 60%. With earnings scheduled for February 12, 2025, investors seeking deeper insights can access the comprehensive Pro Research Report, available exclusively on InvestingPro, which covers what really matters about Waters Corp through expert analysis and intuitive visuals.
In other recent news, Waters Corporation has been experiencing significant developments. The company reported robust Q3 2024 financial results, exceeding market expectations with a 4% year-over-year revenue increase and a non-GAAP EPS of $2.93. Bernstein analysts upgraded Waters Corporation’s stock rating from Market Perform to Outperform, citing the company’s replacement cycle as a key growth driver. TD Cowen also increased its price target for the company to $410.00, maintaining a Hold rating on the shares.
The U.S. Commerce Department announced new export controls on biotechnology equipment, causing a decline in Waters Corporation’s stocks along with other companies in the biotech equipment sector. The restrictions aim to prevent the use of U.S. technology by China in military applications, which could potentially disrupt the sales and supply chains of affected companies.
These recent developments reflect the ongoing changes in Waters Corporation’s business landscape, with the company’s strong financial performance and strategic focus on organic growth and selective acquisitions positioning it well for future developments. The company has also launched new products, including a high-throughput rapid scan calorimeter and a compact Discovery (NASDAQ:WBD) Rheometer, emphasizing its commitment to innovation. Despite challenges such as shipment delays in China, Waters Corporation remains optimistic about growth driven by new testing capacity and recovering customer CapEx spending.
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