Waters Corporation Finishes the Year Strong in All Geographies, Fair Value Estimate Intact
Waters Corporation reported strong last-quarter and full-year results, mainly in line with our expectations. For now, we are maintaining our fair value estimate of $164 and our wide moat rating.Last-quarter sales growth of 6% in constant currency was driven by pharma customers and the governmental/academic sector. Global industrial sales were flat against a tough comparison with the prior-year's quarter. U.S. market rebounded after a sluggish third-quarter performance, fueled by increased spend...
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.
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