BTIG Research started coverage on shares of Waters (NYSE:WAT) in a report published on Friday, January 5th, MarketBeat reports. The brokerage issued a buy rating and a $230.00 target price on the medical instruments supplier’s stock.
Several other brokerages have also recently issued reports on WAT. Cowen restated a hold rating and issued a $190.00 target price on shares of Waters in a report on Friday, November 3rd. Morgan Stanley raised Waters from an underweight rating to an equal weight rating and set a $192.00 price target for the company in a research note on Monday, December 4th. Zacks Investment Research lowered Waters from a buy rating to a hold rating in a research note on Thursday, October 26th. Deutsche Bank raised their price target on Waters from $199.00 to $200.00 and gave the stock a hold rating in a research note on Wednesday, October 25th. Finally, Bank of America raised their price objective on Waters from $192.00 to $202.00 and gave the company a neutral rating in a research report on Friday, November 10th. Eleven analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Hold and an average target price of $197.33.
Shares of Waters (WAT) traded up $2.02 during trading on Friday, hitting $209.75. 252,900 shares of the stock were exchanged, compared to its average volume of 345,289. The stock has a market capitalization of $16,682.05, a P/E ratio of 30.94, a price-to-earnings-growth ratio of 2.81 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 5.71 and a current ratio of 6.16. Waters has a 52-week low of $137.72 and a 52-week high of $210.08.
Waters (NYSE:WAT) last announced its earnings results on Tuesday, October 24th. The medical instruments supplier reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.03. Waters had a net margin of 24.34% and a return on equity of 23.61%. The business had revenue of $565.58 million for the quarter, compared to the consensus estimate of $555.25 million. During the same period last year, the firm posted $1.57 earnings per share. Waters’s quarterly revenue was up 7.4% on a year-over-year basis. equities research analysts expect that Waters will post 7.42 EPS for the current year.
In related news, Director William J. Miller sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $194.94, for a total transaction of $682,290.00. Following the completion of the transaction, the director now directly owns 25,849 shares in the company, valued at approximately $5,039,004.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Rohit Khanna sold 26,913 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $197.93, for a total value of $5,326,890.09. Following the transaction, the senior vice president now owns 13,677 shares of the company’s stock, valued at $2,707,088.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,159 shares of company stock valued at $18,412,172. Corporate insiders own 5.07% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. lifted its holdings in Waters by 0.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 573 shares of the medical instruments supplier’s stock worth $105,000 after purchasing an additional 2 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Waters by 1.0% in the 2nd quarter. HighTower Advisors LLC now owns 2,280 shares of the medical instruments supplier’s stock worth $420,000 after purchasing an additional 23 shares in the last quarter. Intellectus Partners LLC lifted its holdings in Waters by 4.9% in the 2nd quarter. Intellectus Partners LLC now owns 667 shares of the medical instruments supplier’s stock worth $123,000 after purchasing an additional 31 shares in the last quarter. Advisory Services Network LLC lifted its holdings in Waters by 6.0% in the 2nd quarter. Advisory Services Network LLC now owns 1,145 shares of the medical instruments supplier’s stock worth $210,000 after purchasing an additional 65 shares in the last quarter. Finally, Linscomb & Williams Inc. raised its holdings in shares of Waters by 3.7% during the 2nd quarter. Linscomb & Williams Inc. now owns 2,494 shares of the medical instruments supplier’s stock worth $458,000 after acquiring an additional 90 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.
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Waters Company Profile
Waters Corporation is an analytical instrument manufacturer. The Company operates through two segments: Waters and TA. It designs, manufactures, sells and services high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans.
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