Waters (NYSE:WAT) Price Target Raised to $360.00

Waters (NYSE:WAT) had its price objective lifted by Barclays from $330.00 to $360.00 in a report published on Monday, Benzinga reports. The brokerage currently has an underweight rating on the medical instruments supplier’s stock.

Several other equities analysts also recently commented on WAT. The Goldman Sachs Group raised shares of Waters to a “hold” rating in a research note on Wednesday, July 31st. TD Cowen increased their price target on Waters from $325.00 to $363.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Leerink Partnrs upgraded Waters from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group upgraded Waters from a “hold” rating to a “buy” rating and increased their target price for the company from $355.00 to $415.00 in a research report on Tuesday, October 8th. Finally, Leerink Partners upgraded Waters from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $325.00 to $375.00 in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $365.85.

Waters Stock Performance

WAT opened at $386.59 on Monday. The firm has a market cap of $22.96 billion, a P/E ratio of 36.90, a price-to-earnings-growth ratio of 7.50 and a beta of 0.97. The business’s fifty day moving average is $344.06 and its 200-day moving average is $326.73. Waters has a 52-week low of $241.95 and a 52-week high of $393.38. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.55 and a current ratio of 2.02.

Waters (NYSE:WAT) last announced its quarterly earnings data on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.25. The firm had revenue of $740.30 million for the quarter, compared to the consensus estimate of $712.99 million. Waters had a net margin of 21.43% and a return on equity of 49.93%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.84 earnings per share. Sell-side analysts expect that Waters will post 11.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC raised its holdings in shares of Waters by 55.1% during the first quarter. SG Americas Securities LLC now owns 14,765 shares of the medical instruments supplier’s stock valued at $5,083,000 after purchasing an additional 5,248 shares during the period. TD Asset Management Inc boosted its stake in Waters by 4.3% during the 1st quarter. TD Asset Management Inc now owns 443,493 shares of the medical instruments supplier’s stock valued at $152,664,000 after purchasing an additional 18,274 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in Waters during the first quarter worth $1,786,000. Swedbank AB purchased a new stake in Waters in the 1st quarter valued at $10,106,000. Finally, Bessemer Group Inc. raised its holdings in shares of Waters by 67.5% in the first quarter. Bessemer Group Inc. now owns 10,382 shares of the medical instruments supplier’s stock valued at $3,574,000 after purchasing an additional 4,184 shares during 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.