News

Waters WAT recently introduced a new accessory, namely, the Rheo-IS accessory, for its TA Instruments Discovery Hybrid Rheometers.

The accessory offers rheometric sensitivity and impedance measurements up to 8 MHz frequency for slurry formulation analysis, enabling simultaneous electrical impedance and rheological measurements.

It also enables battery scientists to evaluate conductive structure in electrode slurries under real-world conditions, accelerating electrode material development and enhancing battery production efficiency.

The accessory further eliminates the limitations of current rheology solutions based on mechanical contacts.

Waters is expected to gain solid traction among researchers developing new battery formulations on the back of its latest launch. Moreover, it has expanded the company’s TA segment’s portfolio offerings.

We note that the latest launch will also enable the company to capitalize on growth opportunities present in the global rheometer market. Per an MMR report, the global rheometer market is expected to reach $1.08 billion by 2029, witnessing a CAGR of 4% between 2023 and 2029.

Waters Corporation Price and Consensus

Expanding Overall Portfolio

The latest move is in sync with Waters’ growing efforts to strengthen its overall portfolio offerings.

Recently, Waters introduced Oasis WAX/GCB and GCB/WAX for PFAS Analysis Cartridges, designed to streamline sample preparation and analysis of PFAS and undergo QC testing for low residual PFAS.

Further, the company launched the HPLC CONNECT software to integrate its high and ultra-performance liquid chromatography (HPLC/UPLC) systems and multi-angle light-scattering instruments (MALS) into an all-in-one software platform. This software enhances efficiency, reduces human error and provides accurate size exclusion chromatography (SEC)-MALS analyses for complex biopharmaceutical innovations.

Additionally, Waters introduced OligoWorks SPE Kits and components for improved sample preparation for LC-mass spectrometry based bioanalytical quantitation of therapeutic oligonucleotides, offering up to a 2x increase in oligonucleotide recovery from biofluids.

Wrapping Up

All the above-mentioned endeavors to strengthen the overall portfolio will likely bolster the overall financial performance of the company in the near term.

However, softness in the pharmaceutical, industrial, government and academic markets and unfavorable foreign exchange fluctuations remain major concerns for the company. Its shares have gained 4.3% in the year-to-date period, underperforming the Zacks Medical sector’s growth of 8%.

Waters expects first-quarter 2024 total sales to decline in the 8.5-6.5% band on a reported basis.

The Zacks Consensus Estimate for first-quarter 2024 sales is pegged at $633.35 million, indicating a decline of 7.5% from the year-ago quarter.

Zacks Rank & Stocks to Consider

Currently, Waters carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader medical market sector are DaVita DVA, Cardinal Health CAH and ICON ICLR. While DaVita sports a Zacks Rank #1 (Strong Buy) at present, Cardinal Health and ICON carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

DaVita shares have surged 32% in the year-to-date period. DVA’s long-term earnings growth rate is currently projected at 12.15%.

Cardinal Health shares have gained 10.2% in the year-to-date period. CAH’s long-term earnings growth rate is currently projected at 14.25%.

ICON shares have gained 17.8% in the year-to-date period. The long-term earnings growth rate for ICLR is currently projected at 14.90%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.