Stifel Nicolaus Raises Waters (NYSE:WAT) Price Target to $332.00

Waters (NYSE:WAT) had its price objective raised by research analysts at Stifel Nicolaus from $330.00 to $332.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the medical instruments supplier’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 1.01% from the stock’s current price.

Several other analysts have also issued reports on the company. Robert W. Baird lowered their target price on Waters from $319.00 to $312.00 and set a “neutral” rating on the stock in a research note on Wednesday. Evercore ISI increased their target price on shares of Waters from $320.00 to $340.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Finally, Barclays boosted their price target on shares of Waters from $275.00 to $300.00 and gave the company an “underweight” rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat, Waters presently has an average rating of “Hold” and an average price target of $301.56.

Waters Stock Performance

Shares of NYSE WAT traded up $2.61 during mid-day trading on Wednesday, reaching $328.67. 31,647 shares of the company’s stock were exchanged, compared to its average volume of 416,151. The firm has a 50-day moving average price of $333.23 and a two-hundred day moving average price of $310.76. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.22 and a quick ratio of 1.57. The firm has a market capitalization of $19.49 billion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 6.39 and a beta of 0.98. Waters has a 52 week low of $231.90 and a 52 week high of $363.80.

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

Insider Buying and Selling at Waters

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

Hedge Funds Weigh In On Waters

A number of large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its holdings in shares of Waters by 2.9% during the 1st quarter. Russell Investments Group Ltd. now owns 42,300 shares of the medical instruments supplier’s stock worth $14,566,000 after acquiring an additional 1,210 shares during the period. Sei Investments Co. boosted its stake in Waters by 0.9% during the 1st quarter. Sei Investments Co. now owns 35,028 shares of the medical instruments supplier’s stock valued at $12,057,000 after purchasing an additional 301 shares during the last quarter. Bedel Financial Consulting Inc. purchased a new position in Waters in the 1st quarter worth about $207,000. Mondrian Investment Partners LTD boosted its holdings in Waters by 109.1% in the first quarter. Mondrian Investment Partners LTD now owns 4,557 shares of the medical instruments supplier’s stock worth $1,569,000 after purchasing an additional 2,378 shares during the last quarter. Finally, Forsta AP Fonden lifted its holdings in Waters by 10.7% in the first quarter. Forsta AP Fonden now owns 13,400 shares of the medical instruments supplier’s stock valued at $4,613,000 after acquiring an additional 1,300 shares during the period. 94.01% of the stock is owned by hedge funds and other 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.