Waters (NYSE:WAT) Rating Increased to Strong-Buy at Leerink Partnrs

Leerink Partnrs upgraded shares of Waters (NYSE:WAT) from a hold rating to a strong-buy rating in a research note published on Thursday, Zacks.com reports. Leerink Partnrs also issued estimates for Waters’ Q3 2024 earnings at $2.70 EPS, Q4 2024 earnings at $4.12 EPS, FY2024 earnings at $11.65 EPS, Q1 2025 earnings at $2.48 EPS, Q2 2025 earnings at $3.00 EPS, Q3 2025 earnings at $3.03 EPS, Q4 2025 earnings at $4.41 EPS and FY2025 earnings at $12.91 EPS.

WAT has been the subject of several other research reports. Jefferies Financial Group initiated coverage on Waters in a report on Monday, June 3rd. They issued a hold rating and a $320.00 price objective for the company. TD Cowen lifted their price target on Waters from $325.00 to $363.00 and gave the stock a hold rating in a report on Thursday. Evercore ISI reduced their price target on Waters from $320.00 to $300.00 and set an in-line rating for the company in a report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Waters from $330.00 to $310.00 and set a hold rating for the company in a research report on Thursday. Finally, Barclays raised their price objective on shares of Waters from $275.00 to $300.00 and gave the stock an underweight rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $310.58.

Waters Stock Performance

Shares of Waters stock opened at $352.65 on Thursday. The company has a market capitalization of $20.92 billion, a PE ratio of 34.61, a PEG ratio of 5.47 and a beta of 0.95. Waters has a 12 month low of $231.90 and a 12 month high of $367.21. The company has a current ratio of 1.94, a quick ratio of 1.30 and a debt-to-equity ratio of 1.60. The stock’s fifty day simple moving average is $303.79 and its 200 day simple moving average is $321.51.

Waters (NYSE:WAT) last released its earnings results on Wednesday, July 31st. The medical instruments supplier reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.08. The firm had revenue of $709.00 million during the quarter, compared to analysts’ expectations of $700.09 million. Waters had a return on equity of 60.77% and a net margin of 20.71%. The company’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.80 EPS. On average, research analysts predict that Waters will post 11.6 EPS for the current year.

Insider Buying and Selling at Waters

In related news, Director Richard H. Fearon bought 1,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were purchased at an average price of $332.90 per share, with a total value of $332,900.00. Following the completion of the purchase, the director now owns 1,653 shares in the company, valued at approximately $550,283.70. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Christopher A. Kuebler sold 4,000 shares of the business’s 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 sale, the director now owns 14,716 shares of the company’s stock, valued at $5,321,894.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard H. Fearon acquired 1,000 shares of Waters stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average cost of $332.90 per share, for a total transaction of $332,900.00. Following the purchase, the director now owns 1,653 shares of the company’s stock, valued at $550,283.70. The disclosure for this purchase can be found here. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Waters

Several hedge funds and other institutional investors have recently bought and sold shares of WAT. GUARDCAP ASSET MANAGEMENT Ltd acquired a new position in Waters in the fourth quarter valued at $361,839,000. Norges Bank acquired a new position in Waters in the fourth quarter valued at $206,286,000. Nuance Investments LLC lifted its holdings in Waters by 356.0% in the fourth quarter. Nuance Investments LLC now owns 419,363 shares of the medical instruments supplier’s stock valued at $138,067,000 after buying an additional 327,389 shares during the period. TD Asset Management Inc lifted its holdings in Waters by 215.7% in the fourth quarter. TD Asset Management Inc now owns 425,219 shares of the medical instruments supplier’s stock valued at $139,995,000 after buying an additional 290,511 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Waters by 1,095.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 200,705 shares of the medical instruments supplier’s stock valued at $66,078,000 after purchasing an additional 183,916 shares during the period. Institutional investors and hedge funds 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.