Waters (NYSE:WAT) Hits New 1-Year High – Still a Buy?

Shares of Waters Co. (NYSE:WAT) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $395.44 and last traded at $390.59, with a volume of 147409 shares. The stock had previously closed at $388.15.

Analyst Ratings Changes

Several research firms have weighed in on WAT. Wells Fargo & Company upped their target price on Waters from $380.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Evercore ISI increased their price objective on shares of Waters from $335.00 to $355.00 and gave the company an “in-line” rating in a research note on Tuesday, October 1st. TD Cowen lifted their target price on shares of Waters from $363.00 to $410.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Leerink Partnrs raised shares of Waters from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Waters from $340.00 to $380.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, ten have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $365.85.

Waters Stock Performance

The company has a market cap of $22.95 billion, a price-to-earnings ratio of 37.35, a price-to-earnings-growth ratio of 6.92 and a beta of 0.97. The stock’s fifty day simple moving average is $356.22 and its two-hundred day simple moving average is $332.60. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.38 and a current ratio of 2.02.

Waters (NYSE:WAT) last announced its quarterly earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.25. The company had revenue of $740.30 million for the quarter, compared to analyst estimates of $712.99 million. Waters had a net margin of 21.43% and a return on equity of 49.93%. Waters’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the business earned $2.84 EPS. Equities research analysts anticipate that Waters Co. will post 11.79 EPS for the current year.

Hedge Funds Weigh In On Waters

Several hedge funds and other institutional investors have recently made changes to their positions in WAT. Swedbank AB purchased a new stake in Waters during the 1st quarter worth $10,106,000. Northwestern Mutual Wealth Management Co. increased its stake in Waters by 96.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 868 shares of the medical instruments supplier’s stock worth $252,000 after buying an additional 427 shares during the period. Tidal Investments LLC increased its stake in Waters by 61.6% during the 1st quarter. Tidal Investments LLC now owns 6,584 shares of the medical instruments supplier’s stock worth $2,267,000 after buying an additional 2,509 shares during the period. Toronto Dominion Bank increased its stake in Waters by 8.6% during the 2nd quarter. Toronto Dominion Bank now owns 26,234 shares of the medical instruments supplier’s stock worth $7,611,000 after buying an additional 2,086 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Waters by 21.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 448,304 shares of the medical instruments supplier’s stock worth $130,053,000 after purchasing an additional 77,951 shares during the last quarter. 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.