Brokerages Set Waters Co. (NYSE:WAT) PT at $318.50

Waters Co. (NYSE:WAT) has been given an average rating of “Hold” by the fifteen brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $318.50.

Several brokerages have issued reports on WAT. Evercore ISI dropped their target price on Waters from $320.00 to $300.00 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. Leerink Partnrs upgraded Waters from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group began coverage on Waters in a research report on Monday, June 3rd. They set a “hold” rating and a $320.00 target price for the company. TD Cowen boosted their target price on Waters from $325.00 to $363.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group upgraded Waters to a “hold” rating in a research report on Wednesday, July 31st.

Waters Price Performance

Shares of Waters stock opened at $326.73 on Monday. Waters has a one year low of $231.90 and a one year high of $367.21. The stock’s fifty day moving average is $324.10 and its 200 day moving average is $324.79. The stock has a market cap of $19.38 billion, a P/E ratio of 32.06, a P/E/G ratio of 5.70 and a beta of 0.95. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.42 and a current ratio of 2.10.

Waters (NYSE:WAT) last announced its earnings results on Wednesday, July 31st. The medical instruments supplier reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.08. The company had revenue of $709.00 million for the quarter, compared to analysts’ expectations of $700.09 million. Waters had a return on equity of 56.81% and a net margin of 20.71%. Waters’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the firm earned $2.80 EPS. Sell-side analysts anticipate that Waters will post 11.6 earnings per share for the current year.

Hedge Funds Weigh In On Waters

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Waters by 0.6% in the first quarter. Vanguard Group Inc. now owns 6,879,316 shares of the medical instruments supplier’s stock worth $2,368,067,000 after buying an additional 41,654 shares in the last quarter. GUARDCAP ASSET MANAGEMENT Ltd increased its position in shares of Waters by 1.1% during the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 1,110,898 shares of the medical instruments supplier’s stock worth $382,404,000 after purchasing an additional 11,851 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Waters by 8.6% during the second quarter. Van ECK Associates Corp now owns 652,892 shares of the medical instruments supplier’s stock worth $189,417,000 after purchasing an additional 51,853 shares in the last quarter. Norges Bank acquired a new position in shares of Waters during the fourth quarter worth $206,286,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Waters by 21.0% during the second quarter. Dimensional Fund Advisors LP now owns 448,304 shares of the medical instruments supplier’s stock worth $130,053,000 after purchasing an additional 77,951 shares in the last quarter. Institutional investors own 94.01% of the company’s stock.

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.