Waters (NYSE:WAT) PT Lowered to $275.00

Waters (NYSE:WAT) had its price objective lowered by Barclays from $295.00 to $275.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the medical instruments supplier’s stock. Barclays‘s target price indicates a potential downside of 5.21% from the stock’s current price.

A number of other equities analysts have also weighed in on WAT. Evercore ISI boosted their target price on Waters from $320.00 to $340.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. TD Cowen boosted their price target on Waters from $350.00 to $358.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Robert W. Baird cut their price target on Waters from $319.00 to $312.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Stifel Nicolaus boosted their price target on Waters from $330.00 to $332.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Finally, Jefferies Financial Group started coverage on Waters in a research note on Monday, June 3rd. They set a “hold” rating and a $320.00 price target for the company. One equities research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to MarketBeat, Waters presently has a consensus rating of “Hold” and a consensus price target of $305.20.

Waters Price Performance

WAT opened at $290.12 on Friday. The stock has a 50-day moving average price of $316.59 and a 200-day moving average price of $324.04. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.94 and a quick ratio of 1.30. The firm has a market cap of $17.21 billion, a PE ratio of 28.47, a P/E/G ratio of 4.56 and a beta of 0.97. Waters has a 1 year low of $231.90 and a 1 year high of $367.21.

Waters (NYSE:WAT) last posted its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.11. Waters had a return on equity of 66.59% and a net margin of 20.75%. The firm had revenue of $636.80 million during the quarter, compared to analyst estimates of $635.57 million. During the same quarter in the previous year, the firm earned $2.49 EPS. Waters’s quarterly revenue was down 7.0% compared to the same quarter last year. Sell-side analysts predict that Waters will post 11.85 earnings per share for the current fiscal year.

Insider Activity at Waters

In other Waters news, Director Richard H. Fearon purchased 1,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was acquired at an average cost of $332.90 per share, for a total transaction of $332,900.00. Following the purchase, the director now directly owns 1,653 shares of the company’s stock, valued at approximately $550,283.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Waters news, Director Christopher A. Kuebler sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $361.64, for a total value of $1,446,560.00. Following the completion of the transaction, the director now directly owns 14,716 shares in the company, valued at approximately $5,321,894.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard H. Fearon acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average cost of $332.90 per share, for a total transaction of $332,900.00. Following the completion of the acquisition, the director now directly owns 1,653 shares in the company, valued at $550,283.70. The disclosure for this purchase can be found here. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of Waters

Hedge funds have recently modified their holdings of the company. Meridian Wealth Management LLC purchased a new stake in shares of Waters during the 4th quarter worth approximately $2,637,000. Raymond James & Associates raised its holdings in Waters by 295.9% during the 4th quarter. Raymond James & Associates now owns 127,879 shares of the medical instruments supplier’s stock valued at $42,102,000 after buying an additional 95,577 shares during the period. Virtu Financial LLC purchased a new stake in Waters during the 4th quarter valued at $962,000. Motley Fool Wealth Management LLC raised its holdings in Waters by 39.6% during the 4th quarter. Motley Fool Wealth Management LLC now owns 41,657 shares of the medical instruments supplier’s stock valued at $13,728,000 after buying an additional 11,823 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Waters by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 357,257 shares of the medical instruments supplier’s stock valued at $117,620,000 after buying an additional 13,093 shares during the period. 94.01% of the stock is owned by hedge funds and other institutional investors.

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.