Waters (NYSE:WAT) Sees Large Volume Increase After Better-Than-Expected Earnings

Shares of Waters Co. (NYSE:WAT) saw unusually-strong trading volume on Wednesday following a stronger than expected earnings report. Approximately 423,631 shares traded hands during trading, an increase of 4% from the previous session’s volume of 407,499 shares.The stock last traded at $372.11 and had previously closed at $405.29.

The medical instruments supplier reported $4.10 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.08. Waters had a return on equity of 49.93% and a net margin of 21.43%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Cfra set a $389.00 price objective on shares of Waters in a report on Thursday, October 17th. Bank of America upped their target price on Waters from $400.00 to $430.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Waters from $310.00 to $325.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Barclays upgraded shares of Waters from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $360.00 to $415.00 in a research report on Monday. Finally, TD Cowen increased their target price on Waters from $363.00 to $410.00 and gave the company a “hold” rating in a report on Monday, November 4th. Ten analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $388.64.

Hedge Funds Weigh In On Waters

Institutional investors have recently bought and sold shares of the stock. Motley Fool Asset Management LLC grew its holdings in shares of Waters by 7.6% during the 4th quarter. Motley Fool Asset Management LLC now owns 40,950 shares of the medical instruments supplier’s stock worth $15,192,000 after acquiring an additional 2,894 shares during the period. World Investment Advisors boosted its position in shares of Waters by 6.8% during the fourth quarter. World Investment Advisors now owns 6,962 shares of the medical instruments supplier’s stock valued at $2,583,000 after purchasing an additional 444 shares in the last quarter. Westpac Banking Corp grew its stake in Waters by 65.3% in the fourth quarter. Westpac Banking Corp now owns 1,000 shares of the medical instruments supplier’s stock worth $371,000 after purchasing an additional 395 shares during the period. Bryce Point Capital LLC bought a new position in Waters in the fourth quarter worth $525,000. Finally, Huntington National Bank lifted its position in Waters by 6.0% during the fourth quarter. Huntington National Bank now owns 1,460 shares of the medical instruments supplier’s stock valued at $542,000 after buying an additional 83 shares during the period. 94.01% of the stock is owned by institutional investors.

Waters Trading Down 5.6 %

The stock’s fifty day moving average price is $390.16 and its 200 day moving average price is $363.86. The stock has a market cap of $22.71 billion, a P/E ratio of 36.49, a PEG ratio of 7.37 and a beta of 1.01. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.14.

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.