TD Cowen Increases Waters (NYSE:WAT) Price Target to $410.00

Waters (NYSE:WAT) had its target price raised by equities research analysts at TD Cowen from $363.00 to $410.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “hold” rating on the medical instruments supplier’s stock. TD Cowen’s target price points to a potential upside of 5.92% from the company’s previous close.

Other research analysts also recently issued reports about the company. Stifel Nicolaus boosted their price target on Waters from $332.00 to $360.00 and gave the company a “hold” rating in a report on Monday. Deutsche Bank Aktiengesellschaft reduced their target price on Waters from $330.00 to $310.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. The Goldman Sachs Group upgraded Waters to a “hold” rating in a report on Wednesday, July 31st. Barclays increased their price objective on shares of Waters from $330.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday. Finally, Evercore ISI boosted their target price on shares of Waters from $335.00 to $355.00 and gave the company an “in-line” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $365.85.

Waters Stock Down 0.1 %

Shares of NYSE:WAT opened at $387.09 on Monday. The company has a market capitalization of $22.98 billion, a P/E ratio of 36.89, a P/E/G ratio of 7.59 and a beta of 0.97. The stock’s fifty day simple moving average is $343.05 and its 200-day simple moving average is $326.09. Waters has a 52-week low of $241.95 and a 52-week high of $391.00. The company has a quick ratio of 0.55, a current ratio of 0.83 and a debt-to-equity ratio of 1.42.

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. The company had revenue of $740.30 million for the quarter, compared to analysts’ expectations of $712.99 million. Waters had a net margin of 21.43% and a return on equity of 49.93%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $2.84 EPS. As a group, equities research analysts forecast that Waters will post 11.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in Waters by 12.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,134 shares of the medical instruments supplier’s stock worth $7,619,000 after acquiring an additional 2,448 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Waters by 25.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,772 shares of the medical instruments supplier’s stock valued at $610,000 after purchasing an additional 359 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Waters during the 1st quarter valued at $72,000. Daiwa Securities Group Inc. increased its stake in Waters by 9.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 9,387 shares of the medical instruments supplier’s stock worth $3,231,000 after buying an additional 842 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Waters by 71.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,601 shares of the medical instruments supplier’s stock worth $895,000 after buying an additional 1,087 shares in the last quarter. 94.01% of the stock is owned by hedge funds and other institutional investors.

Waters Company Profile

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.