Waters (NYSE:WAT) Now Covered by Scotiabank

Research analysts at Scotiabank assumed coverage on shares of Waters (NYSE:WAT) in a report released on Monday, MarketBeat Ratings reports. The brokerage set a “sector perform” rating and a $430.00 price target on the medical instruments supplier’s stock. Scotiabank’s price objective would indicate a potential upside of 15.24% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. upped their target price on Waters from $340.00 to $380.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Waters from $310.00 to $325.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Cfra set a $389.00 target price on shares of Waters in a research report on Thursday, October 17th. Wells Fargo & Company increased their price target on shares of Waters from $380.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Evercore ISI lifted their price objective on shares of Waters from $335.00 to $355.00 and gave the stock an “in-line” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $379.71.

Waters Price Performance

WAT stock opened at $373.15 on Monday. The firm has a 50 day moving average of $367.77 and a 200-day moving average of $339.24. The firm has a market capitalization of $22.16 billion, a P/E ratio of 35.61, a price-to-earnings-growth ratio of 6.92 and a beta of 1.01. Waters has a 12 month low of $279.24 and a 12 month high of $397.02. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.14.

Waters (NYSE:WAT) last announced its quarterly earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, beating the consensus estimate of $2.68 by $0.25. The firm had revenue of $740.30 million during the quarter, compared to the consensus estimate of $712.99 million. Waters had a net margin of 21.43% and a return on equity of 49.93%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $2.84 EPS. As a group, sell-side analysts predict that Waters will post 11.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Summit Trail Advisors LLC boosted its holdings in Waters by 2.4% during the 3rd quarter. Summit Trail Advisors LLC now owns 1,198 shares of the medical instruments supplier’s stock valued at $431,000 after acquiring an additional 28 shares during the period. OneDigital Investment Advisors LLC increased its stake in shares of Waters by 3.8% in the third quarter. OneDigital Investment Advisors LLC now owns 851 shares of the medical instruments supplier’s stock worth $306,000 after buying an additional 31 shares during the period. Raymond James Trust N.A. increased its stake in shares of Waters by 2.4% in the third quarter. Raymond James Trust N.A. now owns 1,340 shares of the medical instruments supplier’s stock worth $482,000 after buying an additional 32 shares during the period. Linscomb Wealth Inc. raised its holdings in Waters by 0.4% during the 2nd quarter. Linscomb Wealth Inc. now owns 7,841 shares of the medical instruments supplier’s stock valued at $2,275,000 after buying an additional 34 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its position in Waters by 3.2% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,084 shares of the medical instruments supplier’s stock valued at $314,000 after buying an additional 34 shares during the period. Hedge funds and other institutional investors own 94.01% of the company’s stock.

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.