Waters (NYSE:WAT) Sets New 12-Month High – What’s Next?

Waters Co. (NYSE:WAT) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $419.25 and last traded at $415.39, with a volume of 43083 shares trading hands. The stock had previously closed at $414.44.

Analyst Upgrades and Downgrades

WAT has been the subject of a number of research analyst reports. Bank of America increased their price target on shares of Waters from $400.00 to $430.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Wells Fargo & Company increased their price target on shares of Waters from $380.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. increased their price target on shares of Waters from $340.00 to $380.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Jefferies Financial Group upgraded shares of Waters from a “hold” rating to a “buy” rating and increased their price target for the company from $355.00 to $415.00 in a report on Tuesday, October 8th. Finally, TD Cowen increased their price target on shares of Waters from $363.00 to $410.00 and gave the company a “hold” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $384.71.

Waters Price Performance

The company has a market capitalization of $24.69 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 7.17 and a beta of 1.01. The company’s 50 day simple moving average is $382.83 and its 200-day simple moving average is $355.78. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.14.

Waters (NYSE:WAT) last released its quarterly earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.25. Waters had a net margin of 21.43% and a return on equity of 49.93%. The company had revenue of $740.30 million for the quarter, compared to analysts’ expectations of $712.99 million. During the same period last year, the company earned $2.84 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts predict that Waters Co. will post 11.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Waters

Several hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Waters by 2.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,412 shares of the medical instruments supplier’s stock worth $2,379,000 after acquiring an additional 162 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Waters by 1.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 135,463 shares of the medical instruments supplier’s stock worth $50,254,000 after acquiring an additional 1,675 shares during the last quarter. GHP Investment Advisors Inc. boosted its position in shares of Waters by 5.2% in the fourth quarter. GHP Investment Advisors Inc. now owns 22,703 shares of the medical instruments supplier’s stock worth $8,422,000 after acquiring an additional 1,130 shares during the last quarter. Bleakley Financial Group LLC boosted its position in shares of Waters by 12.5% in the fourth quarter. Bleakley Financial Group LLC now owns 675 shares of the medical instruments supplier’s stock worth $250,000 after acquiring an additional 75 shares during the last quarter. Finally, Choreo LLC boosted its position in shares of Waters by 21.7% in the fourth quarter. Choreo LLC now owns 2,610 shares of the medical instruments supplier’s stock worth $968,000 after acquiring an additional 465 shares during the last quarter. 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.