Waters (NYSE:WAT) Given New $415.00 Price Target at Wells Fargo & Company

Waters (NYSE:WAT) had its price objective increased by Wells Fargo & Company from $380.00 to $415.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the medical instruments supplier’s stock.

Several other research firms have also weighed in on WAT. Barclays upped their target price on Waters from $330.00 to $360.00 and gave the company an “underweight” rating in a report on Monday. Cfra set a $389.00 price objective on shares of Waters in a research note on Thursday, October 17th. TD Cowen lifted their target price on shares of Waters from $325.00 to $363.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Waters from $330.00 to $310.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Finally, Evercore ISI lifted their price objective on Waters from $335.00 to $355.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $365.85.

Waters Price Performance

Shares of NYSE WAT traded up $1.08 during trading on Monday, hitting $388.42. 20,010 shares of the company were exchanged, compared to its average volume of 429,515. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.83 and a quick ratio of 0.55. Waters has a 1 year low of $241.95 and a 1 year high of $391.00. The firm’s fifty day moving average price is $342.04 and its 200 day moving average price is $325.43. The company has a market cap of $23.06 billion, a price-to-earnings ratio of 36.96, a PEG ratio of 7.59 and a beta of 0.97.

Waters (NYSE:WAT) last issued its earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.25. The company had revenue of $740.30 million during the quarter, compared to analysts’ expectations of $712.99 million. Waters had a net margin of 21.43% and a return on equity of 49.93%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $2.84 earnings per share. On average, sell-side analysts expect that Waters will post 11.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Waters

Large investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. purchased a new stake in Waters in the 2nd quarter valued at about $33,000. Kennebec Savings Bank purchased a new stake in Waters in the third quarter valued at approximately $33,000. Blue Trust Inc. increased its position in Waters by 190.2% during the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock worth $35,000 after purchasing an additional 78 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in Waters during the third quarter worth approximately $35,000. Finally, TFC Financial Management Inc. raised its stake in Waters by 19,900.0% during the second quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier’s stock worth $58,000 after purchasing an additional 199 shares during the period. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

About Waters

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.