Waters Corporation (WAT Quick QuoteWAT - Free Report) is consistently expanding its portfolio of solutions on the back of product introductions.

This is evident from the fact that WAT recently launched a OneLab software-controlled product named Extraction+ Connected Device for the Waters Andrew+ Pipetting Robot.

The Extraction+ Connected Device automates and documents solid phase extraction methods for preparing biological, food, forensic, environmental and clinical research applications.

With the help of the Extraction+ Connected Device, Waters aims to help scientists reduce errors, ensure assay performance and save up to four hours of bench time for each sample set.

Moreover, the intuitive user interface of OneLab software can aid scientists in creating, optimizing and transferring sample preparation methods seamlessly across different labs and users.

Thus, the Extraction+ Connected Device is expected to help Waters gain momentum among scientists, which in turn, will drive WAT’s top line in the days ahead.

Evidently, this will aid Waters in winning investors’ confidence in the near term and the long haul.

Shares of WAT have been down 27.4% in the year-to-date period, outperforming the Computer and Technology sector’s decline of 37.8%.

Waters Corporation Price and Consensus

Waters Corporation price-consensus-chart | Waters Corporation Quote

An Effort to Boost Prospects

The recent introduction of the Extraction+ Connected Device is expected to help Waters capitalize on the prospects in the booming sample preparation market.

The underlined market’s growth is attributed to the increasing adoption of devices, offering a fast, cost-effective and environmentally-friendly sample preparation. Moreover, the devices minimize extraction steps, reduce solvent consumption and automate the sample preparation method.

Per a Coherent Market Insights report, the global sample preparation market is likely to reach $12.6 billion by 2030, witnessing a CAGR of 6.4% between 2022 and 2030.

Expanding Portfolio of Solutions

Waters keeps bringing advanced technological solutions to better serve customers. The release of the Extraction+ Connected Device is a step forward in this direction.

Apart from the recent launch, in June, WAT introduced the new Xevo G3 quadrupole time-of-flight mass spectrometer, a new oligonucleotide sequencing confirmation app named CONFIRM Sequence for the waters_connect software platform and an electrospray ionization source for the high-resolution Waters SELECT SERIES Multi-Reflecting Time of Flight mass spectrometer to drive drug discovery and development.

In March, Waters unveiled the Xevo TQ Absolute system, which is up to 15 times more sensitive, 45% smaller in size, and consumes up to 50% less electricity and gas supply. The device is suitable for pharmaceutical, food and beverage, and environmental analytical laboratories in effective quantitative mass spectrometry analyses.

We believe that these product offerings will continue to benefit Waters in gaining strong momentum in various end markets served.

Zacks Rank & Stocks to Consider

Currently, Waters carries a Zacks Rank #3 (Hold). Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Arista Networks (ANET Quick QuoteANET - Free Report) , Agilent Technologies (A Quick QuoteA - Free Report) and Aspen Technology (AZPN Quick QuoteAZPN - Free Report) . While Arista Networks sports a Zacks Rank #1 (Strong Buy), Agilent Technologies and Aspen Technology carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Arista Networks has lost 27.9% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 15.7%.

Agilent Technologies has lost 21.3% in the year-to-date period. The long-term earnings growth rate for A is currently projected at 10%.

Aspen Technology has returned 60.4% in the year-to-date period. The long-term earnings growth rate for AZPN is currently projected at 18.2%.