Cleveland Research lowered shares of Waters Corporation (NYSE:WAT) from a buy rating to a neutral rating in a research note released on Monday, October 9th, Marketbeat.com reports.
A number of other research analysts have also weighed in on the company. Morgan Stanley reaffirmed an underweight rating and set a $183.00 price objective (up previously from $174.00) on shares of Waters Corporation in a report on Wednesday, July 26th. Jefferies Group LLC reissued a hold rating and issued a $170.00 target price on shares of Waters Corporation in a report on Friday, July 14th. Bank of America Corporation reissued a neutral rating and issued a $192.00 target price (up previously from $180.00) on shares of Waters Corporation in a report on Friday, July 21st. Deutsche Bank AG lowered Waters Corporation from a buy rating to a hold rating and upped their target price for the company from $183.00 to $194.00 in a report on Monday, July 10th. Finally, Cowen and Company reissued a hold rating and issued a $190.00 target price on shares of Waters Corporation in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $186.25.
Waters Corporation (NYSE WAT) opened at 188.14 on Monday. The firm’s 50-day moving average is $184.25 and its 200 day moving average is $178.42. Waters Corporation has a one year low of $133.35 and a one year high of $190.39. The stock has a market cap of $15.02 billion, a P/E ratio of 28.36 and a beta of 0.81.
Waters Corporation (NYSE:WAT) last announced its quarterly earnings data on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.05. Waters Corporation had a return on equity of 23.91% and a net margin of 24.26%. The firm had revenue of $558.30 million for the quarter, compared to analyst estimates of $553.22 million. During the same quarter in the prior year, the company posted $1.58 earnings per share. Waters Corporation’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts anticipate that Waters Corporation will post $7.40 EPS for the current fiscal year.
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In other news, SVP Rohit Khanna sold 18,400 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $185.78, for a total value of $3,418,352.00. Following the transaction, the senior vice president now directly owns 22,477 shares in the company, valued at approximately $4,175,777.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christopher A. Kuebler sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $179.67, for a total value of $628,845.00. Following the completion of the transaction, the director now owns 17,849 shares in the company, valued at $3,206,929.83. The disclosure for this sale can be found here. Company insiders own 5.07% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. APG Asset Management N.V. grew its stake in shares of Waters Corporation by 11.4% in the third quarter. APG Asset Management N.V. now owns 30,235 shares of the medical instruments supplier’s stock valued at $5,428,000 after buying an additional 3,100 shares in the last quarter. Carnick & Kubik Group LLC acquired a new stake in shares of Waters Corporation in the third quarter valued at about $246,000. Denali Advisors LLC acquired a new stake in shares of Waters Corporation in the third quarter valued at about $2,172,000. Oakbrook Investments LLC grew its stake in shares of Waters Corporation by 20.6% in the third quarter. Oakbrook Investments LLC now owns 3,810 shares of the medical instruments supplier’s stock valued at $684,000 after buying an additional 650 shares in the last quarter. Finally, Bristlecone Advisors LLC acquired a new stake in shares of Waters Corporation in the third quarter valued at about $175,000. Institutional investors and hedge funds own 90.95% of the company’s stock.
Waters Corporation Company Profile
Waters Corporation is an analytical instrument manufacturer. The Company operates through two segments: Waters and TA. It designs, manufactures, sells and services high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans.
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