Waters (NYSE:WAT) Price Target Raised to $355.00

Waters (NYSE:WAT) had its price target raised by Evercore ISI from $335.00 to $355.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the medical instruments supplier’s stock. Evercore ISI’s target price indicates a potential downside of 0.67% from the company’s previous close.

Several other brokerages have also weighed in on WAT. Wells Fargo & Company began coverage on shares of Waters in a report on Tuesday, August 27th. They set an “overweight” rating and a $380.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Waters from $330.00 to $310.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Leerink Partnrs upgraded shares of Waters from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 1st. Barclays upped their price objective on shares of Waters from $275.00 to $300.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group upgraded shares of Waters to a “hold” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $327.00.

Waters Trading Down 0.7 %

WAT stock traded down $2.50 during midday trading on Tuesday, hitting $357.39. The stock had a trading volume of 147,304 shares, compared to its average volume of 425,804. The firm has a market cap of $21.21 billion, a P/E ratio of 34.97, a price-to-earnings-growth ratio of 6.20 and a beta of 0.95. The company has a current ratio of 2.10, a quick ratio of 1.42 and a debt-to-equity ratio of 1.42. Waters has a 1-year low of $231.90 and a 1-year high of $367.21. The business has a fifty day moving average price of $334.59 and a two-hundred day moving average price of $324.06.

Waters (NYSE:WAT) last released its earnings results on Wednesday, July 31st. The medical instruments supplier reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.08. Waters had a net margin of 20.71% and a return on equity of 56.81%. The business had revenue of $709.00 million for the quarter, compared to analyst estimates of $700.09 million. During the same quarter in the previous year, the business earned $2.80 earnings per share. Waters’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, sell-side analysts predict that Waters will post 11.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Indiana Trust & Investment Management CO bought a new position in shares of Waters during the 1st quarter valued at approximately $25,000. Riverview Trust Co bought a new position in Waters in the 1st quarter worth approximately $28,000. Itau Unibanco Holding S.A. bought a new position in Waters in the 2nd quarter worth approximately $33,000. Blue Trust Inc. boosted its holdings in Waters by 190.2% in the 2nd quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock worth $35,000 after buying an additional 78 shares during the period. Finally, TFC Financial Management Inc. boosted its holdings in Waters by 19,900.0% in the 2nd quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier’s stock worth $58,000 after buying an additional 199 shares during the period. 94.01% of the stock is 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.