Report
Alex Morozov
EUR 100.00 For Business Accounts Only

Agilent and Waters Remain the Only Wide Moats in the Life Sciences/Diagnostics Industry

After taking a fresh look at top-tier analytical instrument providers Agilent and Waters, we maintained their wide moat ratings, which makes them unique in the life science and diagnostic industry. For comparison, most covered companies in this industry only earn narrow moat ratings. We think Agilent and Waters' heavy concentrations in very sticky end markets--such as biopharmaceuticals, chemicals, and energy--and the significant learning curve, reproducibility, and regulatory factors associated...
Underlying
Waters Corporation

Waters is a holding company. Through its subsidiaries, the company is a specialty measurement company. The company primarily designs, manufactures, sells and services high performance liquid chromatography, ultra performance liquid chromatography and mass spectrometry technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans. In addition, the company designs, manufactures, sells and services thermal analysis, rheometry and calorimetry instruments through its TA? product line. The company is also a developer and supplier of software-based products that interface with its instruments, as well as other manufacturers' instruments.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Alex Morozov

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