Waters Corporation (NYSE:WAT) had its price target hoisted by Bank of America Corporation from $192.00 to $202.00 in a research note released on Friday. The brokerage currently has a neutral rating on the medical instruments supplier’s stock.
Several other research firms have also commented on WAT. Wells Fargo & Company reaffirmed an outperform rating and issued a $205.00 price target (up from $195.00) on shares of Waters Corporation in a report on Thursday, July 13th. Jefferies Group LLC reiterated a hold rating and issued a $170.00 price objective on shares of Waters Corporation in a research report on Friday, July 14th. Barclays PLC upped their price objective on shares of Waters Corporation from $188.00 to $193.00 and gave the stock an equal weight rating in a research report on Wednesday, October 25th. Deutsche Bank AG upped their price objective on shares of Waters Corporation from $199.00 to $200.00 and gave the stock a hold rating in a research report on Wednesday, October 25th. Finally, Zacks Investment Research downgraded shares of Waters Corporation from a buy rating to a hold rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Waters Corporation has an average rating of Hold and an average target price of $193.62.
Shares of Waters Corporation (WAT) opened at $194.64 on Friday. Waters Corporation has a 1-year low of $133.35 and a 1-year high of $199.78. The company has a debt-to-equity ratio of 0.66, a current ratio of 6.16 and a quick ratio of 5.71. The company has a market cap of $15,366.58, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 2.80 and a beta of 0.83.
Waters Corporation (NYSE:WAT) last posted its quarterly earnings results on Tuesday, October 24th. The medical instruments supplier reported $1.77 EPS for the quarter, beating the consensus estimate of $1.74 by $0.03. Waters Corporation had a net margin of 24.34% and a return on equity of 23.61%. The company had revenue of $565.58 million for the quarter, compared to analyst estimates of $555.25 million. During the same period in the prior year, the company earned $1.57 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. equities research analysts anticipate that Waters Corporation will post 7.42 EPS for the current year.
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In related news, SVP Rohit Khanna sold 18,400 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $185.78, for a total transaction of $3,418,352.00. Following the completion of the transaction, the senior vice president now owns 22,477 shares in the company, valued at approximately $4,175,777.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Elizabeth B. Rae sold 12,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $197.95, for a total transaction of $2,375,400.00. Following the transaction, the senior vice president now owns 18,129 shares of the company’s stock, valued at approximately $3,588,635.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,313 shares of company stock valued at $11,120,642. Insiders own 5.07% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Waters Corporation by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 7,704,022 shares of the medical instruments supplier’s stock worth $1,416,308,000 after purchasing an additional 206,262 shares during the last quarter. BlackRock Inc. grew its stake in Waters Corporation by 3.1% during the 2nd quarter. BlackRock Inc. now owns 5,515,322 shares of the medical instruments supplier’s stock valued at $1,013,936,000 after acquiring an additional 165,611 shares in the last quarter. Fundsmith LLP grew its stake in Waters Corporation by 11.7% during the 2nd quarter. Fundsmith LLP now owns 3,833,955 shares of the medical instruments supplier’s stock valued at $704,834,000 after acquiring an additional 401,420 shares in the last quarter. Harding Loevner LP grew its stake in Waters Corporation by 207.1% during the 3rd quarter. Harding Loevner LP now owns 2,768,174 shares of the medical instruments supplier’s stock valued at $158,275,000 after acquiring an additional 1,866,848 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Waters Corporation by 20,670.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,929,793 shares of the medical instruments supplier’s stock valued at $354,773,000 after acquiring an additional 1,920,502 shares in the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.
About Waters Corporation
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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