Waters (NYSE:WAT) Stock Rating Upgraded by Sanford C. Bernstein

Waters (NYSE:WAT) was upgraded by equities research analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a report issued on Friday, Marketbeat reports. The brokerage currently has a $430.00 price target on the medical instruments supplier’s stock. Sanford C. Bernstein’s target price suggests a potential upside of 12.87% from the stock’s previous close.

Several other research firms have also recently weighed in on WAT. Scotiabank initiated coverage on Waters in a report on Monday, December 23rd. They set a “sector perform” rating and a $430.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of Waters from $340.00 to $380.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Barclays raised their price target on shares of Waters from $330.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, November 4th. TD Cowen upped their price objective on shares of Waters from $363.00 to $410.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Finally, Jefferies Financial Group raised shares of Waters from a “hold” rating to a “buy” rating and lifted their target price for the stock from $355.00 to $415.00 in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $384.71.

Waters Stock Performance

Waters stock opened at $380.96 on Friday. The stock has a market cap of $22.62 billion, a PE ratio of 36.35, a P/E/G ratio of 6.92 and a beta of 1.01. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 1.14. Waters has a 12-month low of $279.24 and a 12-month high of $397.02. The business’s 50-day moving average price is $376.85 and its two-hundred day moving average price is $346.16.

Waters (NYSE:WAT) last announced its quarterly earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.25. The company had revenue of $740.30 million for the quarter, compared to analyst estimates of $712.99 million. Waters had a net margin of 21.43% and a return on equity of 49.93%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.84 EPS. As a group, analysts expect that Waters will post 11.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WAT. Acadian Asset Management LLC boosted its position in shares of Waters by 54.0% during the second quarter. Acadian Asset Management LLC now owns 1,909 shares of the medical instruments supplier’s stock valued at $552,000 after buying an additional 669 shares during the last quarter. Caprock Group LLC grew its stake in shares of Waters by 119.6% in the 2nd quarter. Caprock Group LLC now owns 1,588 shares of the medical instruments supplier’s stock worth $461,000 after acquiring an additional 865 shares in the last quarter. Quest Partners LLC raised its holdings in shares of Waters by 32,633.3% in the second quarter. Quest Partners LLC now owns 982 shares of the medical instruments supplier’s stock valued at $285,000 after purchasing an additional 979 shares during the last quarter. Choreo LLC boosted its holdings in Waters by 22.4% during the second quarter. Choreo LLC now owns 1,912 shares of the medical instruments supplier’s stock worth $539,000 after purchasing an additional 350 shares during the last quarter. Finally, Royal London Asset Management Ltd. lifted its position in shares of Waters by 0.6% during the 2nd quarter. Royal London Asset Management Ltd. now owns 22,968 shares of the medical instruments supplier’s stock worth $6,663,000 after buying an additional 128 shares in the last quarter. 94.01% of the stock is owned by 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.