Waters (NYSE:WAT) Price Target Raised to $358.00

Waters (NYSE:WAT) had its price target hoisted by equities researchers at TD Cowen from $350.00 to $358.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the medical instruments supplier’s stock. TD Cowen’s price target would indicate a potential upside of 9.77% from the company’s previous close.

Several other brokerages have also issued reports on WAT. Barclays increased their price target on shares of Waters from $275.00 to $300.00 and gave the stock an “underweight” rating in a research note on Monday, February 12th. Evercore ISI raised their target price on shares of Waters from $320.00 to $340.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Stifel Nicolaus boosted their price target on Waters from $330.00 to $332.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Robert W. Baird reduced their price objective on Waters from $319.00 to $312.00 and set a “neutral” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Waters presently has an average rating of “Hold” and a consensus target price of $307.20.

Waters Stock Up 0.0 %

Waters stock traded up $0.07 during trading hours on Wednesday, hitting $326.13. 126,108 shares of the stock traded hands, compared to its average volume of 417,145. Waters has a one year low of $231.90 and a one year high of $363.80. The company has a market cap of $19.34 billion, a PE ratio of 30.13, a PEG ratio of 6.39 and a beta of 0.98. The firm’s 50-day moving average price is $333.23 and its two-hundred day moving average price is $310.76. The company has a current ratio of 2.22, a quick ratio of 1.57 and a debt-to-equity ratio of 2.00.

Waters (NYSE:WAT) last released its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.11. The company had revenue of $636.80 million for the quarter, compared to analyst estimates of $635.57 million. Waters had a return on equity of 81.30% and a net margin of 21.72%. The firm’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.49 earnings per share. On average, research analysts forecast that Waters will post 11.89 EPS for the current year.

Insider Activity

In related news, Director Linda Baddour sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $355.54, for a total transaction of $177,770.00. Following the completion of the sale, the director now directly owns 2,250 shares in the company, valued at $799,965. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Waters

A number of institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Waters by 9.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 55,889 shares of the medical instruments supplier’s stock worth $15,325,000 after buying an additional 4,936 shares during the last quarter. Raymond James & Associates lifted its position in shares of Waters by 295.9% during the fourth quarter. Raymond James & Associates now owns 127,879 shares of the medical instruments supplier’s stock worth $42,102,000 after purchasing an additional 95,577 shares during the last quarter. Motley Fool Wealth Management LLC boosted its stake in shares of Waters by 39.6% during the fourth quarter. Motley Fool Wealth Management LLC now owns 41,657 shares of the medical instruments supplier’s stock valued at $13,728,000 after purchasing an additional 11,823 shares during the period. Fenimore Asset Management Inc. lifted its holdings in Waters by 22.4% during the 4th quarter. Fenimore Asset Management Inc. now owns 227,250 shares of the medical instruments supplier’s stock valued at $74,818,000 after buying an additional 41,638 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Waters by 129.9% in the 4th quarter. Nordea Investment Management AB now owns 973,537 shares of the medical instruments supplier’s stock valued at $322,017,000 after buying an additional 550,112 shares during the period. 94.01% of the stock is owned by hedge funds and other institutional investors.

About Waters

Waters Corporation provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments: Waters and TA. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.