Bank of America Boosts Waters (NYSE:WAT) Price Target to $430.00

Waters (NYSE:WAT) had its price objective raised by analysts at Bank of America from $400.00 to $430.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the medical instruments supplier’s stock. Bank of America‘s price target would suggest a potential upside of 13.68% from the company’s current price.

WAT has been the topic of a number of other reports. Sanford C. Bernstein lifted their price objective on Waters from $345.00 to $360.00 and gave the company a “market perform” rating in a report on Monday, November 4th. Cfra set a $389.00 price target on Waters in a report on Thursday, October 17th. Evercore ISI lifted their target price on Waters from $335.00 to $355.00 and gave the company an “in-line” rating in a research note on Tuesday, October 1st. Wells Fargo & Company increased their price objective on shares of Waters from $380.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, TD Cowen lifted their price objective on Waters from $363.00 to $410.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $375.85.

Waters Stock Down 1.2 %

WAT opened at $378.26 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.38 and a current ratio of 2.02. The business has a 50 day moving average price of $366.04 and a 200 day moving average price of $336.11. The firm has a market cap of $22.46 billion, a P/E ratio of 36.09, a price-to-earnings-growth ratio of 6.92 and a beta of 1.01. Waters has a twelve month low of $279.24 and a twelve month high of $397.02.

Waters (NYSE:WAT) last announced its earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.25. Waters had a net margin of 21.43% and a return on equity of 49.93%. The business had revenue of $740.30 million for the quarter, compared to analyst estimates of $712.99 million. During the same quarter in the previous year, the firm posted $2.84 earnings per share. Waters’s revenue was up 4.0% compared to the same quarter last year. Research analysts forecast that Waters will post 11.79 EPS for the current year.

Hedge Funds Weigh In On Waters

A number of hedge funds have recently made changes to their positions in the stock. Kennebec Savings Bank acquired a new position in shares of Waters during the third quarter valued at about $33,000. Ashton Thomas Securities LLC bought a new stake in Waters in the 3rd quarter valued at about $35,000. Itau Unibanco Holding S.A. bought a new position in Waters during the second quarter worth about $33,000. Blue Trust Inc. increased its stake in shares of Waters by 190.2% in the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock worth $35,000 after purchasing an additional 78 shares in the last quarter. Finally, TFC Financial Management Inc. lifted its stake in shares of Waters by 19,900.0% during the 2nd quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier’s stock valued at $58,000 after buying an additional 199 shares in the last quarter. 94.01% of the stock is currently owned by 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.