Waters (NYSE:WAT) Given New $295.00 Price Target at Barclays

Waters (NYSE:WAT) had its price objective lowered by Barclays from $300.00 to $295.00 in a research note released on Wednesday, Benzinga reports. The firm currently has an underweight rating on the medical instruments supplier’s stock.

Other equities analysts have also issued reports about the stock. Evercore ISI raised their target price on shares of Waters from $320.00 to $340.00 and gave the company an in-line rating in a report on Thursday, April 4th. Robert W. Baird cut their target price on shares of Waters from $319.00 to $312.00 and set a neutral rating on the stock in a research report on Wednesday. Stifel Nicolaus increased their target price on Waters from $330.00 to $332.00 and gave the company a hold rating in a research report on Wednesday. Finally, TD Cowen lifted their target price on Waters from $350.00 to $358.00 and gave the stock a hold rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $306.70.

Waters Stock Performance

Shares of WAT traded up $12.62 during trading hours on Wednesday, hitting $336.42. The company had a trading volume of 430,959 shares, compared to its average volume of 420,466. The firm has a market cap of $19.95 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 6.39 and a beta of 0.98. The company has a quick ratio of 1.57, a current ratio of 2.22 and a debt-to-equity ratio of 2.00. The business has a fifty day moving average of $332.95 and a 200-day moving average of $310.85. Waters has a 12 month low of $231.90 and a 12 month high of $363.80.

Waters (NYSE:WAT) last issued its quarterly earnings data on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.11. The company had revenue of $636.80 million during the quarter, compared to analysts’ expectations of $635.57 million. Waters had a return on equity of 81.30% and a net margin of 21.72%. The business’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.49 earnings per share. Equities analysts anticipate that Waters will post 11.89 EPS for the current fiscal year.

Insider Activity

In related news, Director Linda Baddour sold 500 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $355.54, for a total transaction of $177,770.00. Following the transaction, the director now directly owns 2,250 shares of the company’s stock, valued at $799,965. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Waters by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,837,662 shares of the medical instruments supplier’s stock valued at $2,251,163,000 after buying an additional 64,525 shares in the last quarter. GUARDCAP ASSET MANAGEMENT Ltd bought a new stake in Waters during the fourth quarter worth about $361,839,000. Invesco Ltd. boosted its holdings in shares of Waters by 3.0% in the 3rd quarter. Invesco Ltd. now owns 1,092,459 shares of the medical instruments supplier’s stock worth $299,563,000 after purchasing an additional 32,059 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Waters by 129.9% during the 4th quarter. Nordea Investment Management AB now owns 973,537 shares of the medical instruments supplier’s stock valued at $322,017,000 after purchasing an additional 550,112 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Waters by 34.3% during the 3rd quarter. American Century Companies Inc. now owns 832,895 shares of the medical instruments supplier’s stock valued at $228,388,000 after buying an additional 212,754 shares in the last quarter. 94.01% of the stock is owned by institutional investors.

Waters Company Profile

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.