BTIG Research started coverage on shares of Waters (NYSE:WAT) in a research report sent to investors on Friday, January 5th, MarketBeat reports. The firm issued a buy rating and a $230.00 target price on the medical instruments supplier’s stock.
A number of other research firms also recently issued reports on WAT. Morgan Stanley upgraded shares of Waters from an underweight rating to an equal weight rating and set a $192.00 target price for the company in a research report on Monday, December 4th. Cowen reiterated a hold rating and issued a $190.00 target price on shares of Waters in a research report on Friday, November 3rd. Evercore ISI began coverage on shares of Waters in a report on Wednesday, January 3rd. They set an in-line rating and a $198.00 price target on the stock. Zacks Investment Research upgraded shares of Waters from a hold rating to a buy rating and set a $217.00 price target on the stock in a report on Tuesday, December 26th. Finally, Bank of America raised their target price on shares of Waters from $192.00 to $202.00 and gave the company a neutral rating in a research note on Friday, November 10th. Twelve research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $203.75.
Shares of Waters (WAT) traded up $0.74 during trading hours on Friday, reaching $215.61. 599,482 shares of the company were exchanged, compared to its average volume of 535,581. The company has a quick ratio of 1.97, a current ratio of 2.10 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $17,393.87, a PE ratio of 1,134.85, a price-to-earnings-growth ratio of 2.75 and a beta of 0.82. Waters has a 1 year low of $140.93 and a 1 year high of $220.20.
Waters (NYSE:WAT) last issued its quarterly earnings results on Tuesday, January 23rd. The medical instruments supplier reported $2.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.07. The business had revenue of $687.28 million during the quarter, compared to the consensus estimate of $671.98 million. Waters had a net margin of 0.88% and a return on equity of 24.70%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.21 EPS. research analysts predict that Waters will post 8.16 earnings per share for the current fiscal year.
In other Waters news, SVP Elizabeth B. Rae sold 12,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $197.95, for a total value of $2,375,400.00. Following the completion of the transaction, the senior vice president now directly owns 18,129 shares of the company’s stock, valued at $3,588,635.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas P. Salice sold 3,500 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $200.03, for a total transaction of $700,105.00. Following the completion of the transaction, the director now directly owns 20,349 shares of the company’s stock, valued at $4,070,410.47. The disclosure for this sale can be found here. Insiders have sold a total of 136,789 shares of company stock valued at $28,459,047 over the last three months. 5.07% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of WAT. Schwab Charles Investment Management Inc. grew its position in shares of Waters by 6.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 263,764 shares of the medical instruments supplier’s stock worth $48,491,000 after buying an additional 16,108 shares during the period. Victory Capital Management Inc. grew its position in shares of Waters by 17.4% during the 2nd quarter. Victory Capital Management Inc. now owns 10,764 shares of the medical instruments supplier’s stock worth $1,979,000 after buying an additional 1,594 shares during the period. Pacer Advisors Inc. grew its position in shares of Waters by 8.8% during the 2nd quarter. Pacer Advisors Inc. now owns 1,796 shares of the medical instruments supplier’s stock worth $330,000 after buying an additional 145 shares during the period. Neuberger Berman Group LLC grew its position in shares of Waters by 214.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 4,215 shares of the medical instruments supplier’s stock worth $775,000 after buying an additional 2,873 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Waters by 0.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 573 shares of the medical instruments supplier’s stock worth $105,000 after buying an additional 2 shares during the period. Institutional investors own 92.21% of the company’s stock.
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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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