Waters (NYSE:WAT) PT Lowered to $275.00 at Barclays

Waters (NYSE:WAT) had its target price decreased by equities researchers at Barclays from $295.00 to $275.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “underweight” rating on the medical instruments supplier’s stock. Barclays‘s price target points to a potential downside of 5.22% from the stock’s previous close.

WAT has been the subject of several other research reports. Jefferies Financial Group initiated coverage on Waters in a research report on Monday, June 3rd. They issued a “hold” rating and a $320.00 price objective for the company. TD Cowen raised their price objective on shares of Waters from $350.00 to $358.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Evercore ISI boosted their price objective 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. Stifel Nicolaus upped their target price on Waters from $330.00 to $332.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Finally, Robert W. Baird dropped their price target on Waters from $319.00 to $312.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating and eleven have assigned 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 target price of $305.20.

Waters Stock Performance

NYSE:WAT traded up $3.67 during midday trading on Friday, reaching $290.14. The stock had a trading volume of 144,737 shares, compared to its average volume of 445,812. The stock has a market cap of $17.21 billion, a P/E ratio of 28.42, a P/E/G ratio of 4.62 and a beta of 0.97. The company has a quick ratio of 1.30, a current ratio of 1.94 and a debt-to-equity ratio of 1.60. Waters has a 12-month low of $231.90 and a 12-month high of $367.21. The firm has a fifty day simple moving average of $316.71 and a two-hundred day simple moving average of $323.90.

Waters (NYSE:WAT) last issued its quarterly earnings results 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 business had revenue of $636.80 million for the quarter, compared to analyst estimates of $635.57 million. Waters had a net margin of 20.75% and a return on equity of 66.59%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.49 earnings per share. On average, equities analysts expect that Waters will post 11.85 EPS for the current year.

Insider Buying and Selling

In other Waters news, Director Christopher A. Kuebler sold 4,000 shares of Waters stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total value of $1,446,560.00. Following the transaction, the director now owns 14,716 shares in the company, valued at approximately $5,321,894.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Waters news, Director Christopher A. Kuebler sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $361.64, for a total value of $1,446,560.00. Following the transaction, the director now directly owns 14,716 shares of the company’s stock, valued at $5,321,894.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard H. Fearon bought 1,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was bought at an average price of $332.90 per share, with a total value of $332,900.00. Following the purchase, the director now owns 1,653 shares of the company’s stock, valued at approximately $550,283.70. The disclosure for this purchase can be found here. 0.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Waters

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Waters by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,879,316 shares of the medical instruments supplier’s stock worth $2,368,067,000 after buying an additional 41,654 shares in the last quarter. GUARDCAP ASSET MANAGEMENT Ltd increased its holdings in shares of Waters by 1.1% during the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 1,110,898 shares of the medical instruments supplier’s stock valued at $382,404,000 after purchasing an additional 11,851 shares during the period. Nordea Investment Management AB raised its stake in shares of Waters by 129.9% during the fourth 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 in the last quarter. American Century Companies Inc. lifted its holdings in Waters by 34.3% in the third quarter. American Century Companies Inc. now owns 832,895 shares of the medical instruments supplier’s stock worth $228,388,000 after purchasing an additional 212,754 shares during the period. Finally, Norges Bank acquired a new position in Waters during the 4th quarter valued at about $206,286,000. Institutional investors own 94.01% of the company’s stock.

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.