Waters (NYSE:WAT) Shares Down 4.4% – What’s Next?

Waters Co. (NYSE:WAT) traded down 4.4% during mid-day trading on Wednesday . The stock traded as low as $385.56 and last traded at $387.31. 219,467 shares traded hands during trading, a decline of 46% from the average session volume of 403,128 shares. The stock had previously closed at $404.93.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Waters from $340.00 to $380.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on Waters from $310.00 to $325.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Bank of America boosted their price objective on Waters from $400.00 to $430.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Scotiabank began coverage on Waters in a report on Monday, December 23rd. They set a “sector perform” rating and a $430.00 price objective for the company. Finally, Cfra set a $389.00 price objective on Waters in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $384.71.

Waters Stock Performance

The company has a market capitalization of $23.78 billion, a P/E ratio of 38.21, a PEG ratio of 6.92 and a beta of 1.01. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.02 and a quick ratio of 1.38. The company has a fifty day moving average price of $377.43 and a two-hundred day moving average price of $348.15.

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

Hedge Funds Weigh In On Waters

A number of institutional investors have recently modified their holdings of the company. Brooklyn Investment Group raised its position in shares of Waters by 28.4% during the fourth quarter. Brooklyn Investment Group now owns 362 shares of the medical instruments supplier’s stock worth $134,000 after purchasing an additional 80 shares during the period. Avanza Fonder AB acquired a new position in shares of Waters during the fourth quarter worth approximately $1,649,000. Procyon Advisors LLC raised its position in shares of Waters by 49.9% during the fourth quarter. Procyon Advisors LLC now owns 994 shares of the medical instruments supplier’s stock worth $369,000 after purchasing an additional 331 shares during the period. Tompkins Financial Corp acquired a new position in shares of Waters during the fourth quarter worth approximately $148,000. Finally, Park Avenue Securities LLC raised its position in shares of Waters by 19.8% during the fourth quarter. Park Avenue Securities LLC now owns 2,531 shares of the medical instruments supplier’s stock worth $939,000 after purchasing an additional 419 shares during the period. 94.01% of the stock is owned by institutional investors and hedge funds.

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.