Waters (NYSE:WAT) Price Target Raised to $332.00

Waters (NYSE:WAT) had its price objective hoisted by Stifel Nicolaus from $330.00 to $332.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a hold rating on the medical instruments supplier’s stock.

A number of other brokerages have also recently commented on WAT. Barclays raised their target price on Waters from $275.00 to $300.00 and gave the company an underweight rating in a report on Monday, February 12th. Robert W. Baird reduced their price target on Waters from $319.00 to $312.00 and set a neutral rating on the stock in a research report on Wednesday. Finally, Evercore ISI increased their price target on Waters from $320.00 to $340.00 and gave the company an in-line rating in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating and ten have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $306.70.

Waters Trading Up 2.6 %

Shares of NYSE WAT traded up $8.51 during mid-day trading on Wednesday, reaching $332.31. 70,452 shares of the company’s stock were exchanged, compared to its average volume of 416,208. The firm has a market capitalization of $19.71 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 debt-to-equity ratio of 2.00, a quick ratio of 1.57 and a current ratio of 2.22. Waters has a 52-week low of $231.90 and a 52-week high of $363.80. The company’s 50-day moving average is $332.95 and its 200-day moving average is $310.85.

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

Insider Transactions at Waters

In other news, Director Linda Baddour sold 500 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $355.54, for a total transaction of $177,770.00. Following the sale, the director now owns 2,250 shares of the company’s stock, valued at approximately $799,965. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WAT. Indiana Trust & Investment Management CO acquired a new position in Waters during the first quarter worth approximately $25,000. Riverview Trust Co acquired a new position in Waters during the first quarter worth approximately $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Waters during the third quarter worth approximately $33,000. Exchange Traded Concepts LLC acquired a new position in Waters during the fourth quarter worth approximately $35,000. Finally, VisionPoint Advisory Group LLC increased its position in Waters by 300.0% during the third quarter. VisionPoint Advisory Group LLC now owns 144 shares of the medical instruments supplier’s stock worth $39,000 after buying an additional 108 shares during the period. Institutional investors and hedge funds own 94.01% of the company’s stock.

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.