Waters (NYSE:WAT) was upgraded by analysts at Cleveland Research from a “sell” rating to a “neutral” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports.
Several other research firms have also recently issued reports on WAT. Zacks Investment Research upgraded Waters from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Janney Montgomery Scott cut Waters from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $230.00 to $211.00 in a research report on Tuesday, July 17th. Bank of America cut Waters from a “neutral” rating to an “underperform” rating and set a $190.00 price objective for the company. in a research report on Monday, July 16th. Leerink Swann cut Waters from an “outperform” rating to a “market perform” rating in a research report on Monday, October 8th. Finally, Morgan Stanley dropped their price target on Waters from $205.00 to $204.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. Waters has an average rating of “Hold” and an average price target of $208.73.
NYSE:WAT opened at $181.80 on Thursday. The firm has a market capitalization of $15.00 billion, a price-to-earnings ratio of 24.08, a price-to-earnings-growth ratio of 2.39 and a beta of 0.93. The company has a debt-to-equity ratio of 0.58, a current ratio of 6.58 and a quick ratio of 5.95. Waters has a 1 year low of $177.25 and a 1 year high of $220.20.
Waters (NYSE:WAT) last released its quarterly earnings data on Tuesday, July 24th. The medical instruments supplier reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.03. The firm had revenue of $596.20 million during the quarter, compared to analysts’ expectations of $598.73 million. Waters had a return on equity of 27.85% and a net margin of 2.12%. Waters’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.76 earnings per share. As a group, sell-side analysts anticipate that Waters will post 8.11 EPS for the current year.
In other news, SVP Elizabeth B. Rae sold 4,000 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $190.62, for a total value of $762,480.00. Following the completion of the transaction, the senior vice president now owns 9,443 shares in the company, valued at $1,800,024.66. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.98% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Clinton Group Inc. purchased a new stake in Waters during the 3rd quarter worth about $219,000. DNB Asset Management AS increased its position in Waters by 11.1% during the 3rd quarter. DNB Asset Management AS now owns 13,309 shares of the medical instruments supplier’s stock worth $2,591,000 after purchasing an additional 1,326 shares in the last quarter. Personal Capital Advisors Corp increased its position in Waters by 68.1% during the 3rd quarter. Personal Capital Advisors Corp now owns 3,198 shares of the medical instruments supplier’s stock worth $623,000 after purchasing an additional 1,295 shares in the last quarter. State of Alaska Department of Revenue increased its position in Waters by 6.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 15,715 shares of the medical instruments supplier’s stock worth $3,057,000 after purchasing an additional 969 shares in the last quarter. Finally, Royal London Asset Management Ltd. purchased a new stake in Waters during the 2nd quarter worth about $6,091,000. Institutional investors and hedge funds own 99.31% of the company’s stock.
Waters Company Profile
Waters Corporation, a specialty measurement company, provides analytical workflow solutions in the United States, Europe, Asia, and internationally. It designs, manufactures, sells, and services high and ultra performance liquid chromatography technology, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.
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