Waters (NYSE:WAT) Price Target Lowered to $300.00 at Evercore ISI

Waters (NYSE:WAT) had its price target cut by Evercore ISI from $320.00 to $300.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an in-line rating on the medical instruments supplier’s stock.

Several other equities research analysts also recently issued reports on the company. Barclays reduced their price objective on Waters from $295.00 to $275.00 and set an underweight rating for the company in a research note on Friday, June 28th. Robert W. Baird reduced their price target on Waters from $319.00 to $312.00 and set a neutral rating for the company in a research report on Wednesday, May 8th. TD Cowen raised their price objective on Waters from $350.00 to $358.00 and gave the company a hold rating in a research note on Wednesday, May 8th. Jefferies Financial Group began coverage on Waters in a research report on Monday, June 3rd. They set a hold rating and a $320.00 target price for the company. Finally, Stifel Nicolaus lifted their price target on shares of Waters from $330.00 to $332.00 and gave the company a hold rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to MarketBeat, Waters currently has an average rating of Hold and an average price target of $301.20.

Waters Stock Performance

Shares of WAT opened at $284.49 on Tuesday. Waters has a 52-week low of $231.90 and a 52-week high of $367.21. The firm has a market capitalization of $16.88 billion, a PE ratio of 27.92, a P/E/G ratio of 4.62 and a beta of 0.95. The firm has a 50-day moving average price of $315.69 and a 200 day moving average price of $323.60. The company has a quick ratio of 1.30, a current ratio of 1.94 and a debt-to-equity ratio of 1.60.

Waters (NYSE:WAT) last released its earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.11. Waters had a return on equity of 66.59% and a net margin of 20.75%. The firm had revenue of $636.80 million for the quarter, compared to analyst estimates of $635.57 million. During the same period in the previous year, the company earned $2.49 earnings per share. Waters’s revenue was down 7.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Waters will post 11.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Christopher A. Kuebler sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total value of $1,446,560.00. Following the completion of the sale, the director now owns 14,716 shares of the company’s stock, valued at $5,321,894.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Waters news, Director Richard H. Fearon acquired 1,000 shares of Waters stock in a transaction on Tuesday, May 28th. The shares were purchased at an average cost of $332.90 per share, with a total value of $332,900.00. Following the completion of the purchase, the director now owns 1,653 shares in the company, valued at $550,283.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christopher A. Kuebler sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total transaction of $1,446,560.00. Following the sale, the director now owns 14,716 shares of the company’s stock, valued at approximately $5,321,894.24. The disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Indiana Trust & Investment Management CO bought a new stake in Waters during the 1st quarter worth approximately $25,000. Riverview Trust Co acquired a new stake in shares of Waters during the first quarter worth $28,000. Exchange Traded Concepts LLC bought a new stake in Waters in the 4th quarter valued at $35,000. Wetzel Investment Advisors Inc. acquired a new position in Waters in the 4th quarter worth $39,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Waters during the 4th quarter worth about $41,000. Institutional investors own 94.01% of the company’s stock.

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.