Waters (NYSE:WAT) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Waters (NYSE:WAT) in a research report report published on Tuesday morning, MarketBeat reports. The firm issued an overweight rating and a $380.00 price target on the medical instruments supplier’s stock.

A number of other equities research analysts have also issued reports on the stock. Barclays boosted their price target on shares of Waters from $275.00 to $300.00 and gave the company an underweight rating in a report on Thursday, August 1st. Stifel Nicolaus raised their price objective on shares of Waters from $330.00 to $332.00 and gave the stock a hold rating in a research note on Wednesday, May 8th. Leerink Partnrs upgraded Waters from a hold rating to a strong-buy rating in a research report on Thursday, August 1st. TD Cowen lifted their price objective on Waters from $325.00 to $363.00 and gave the company a hold rating in a report on Thursday, August 1st. Finally, Robert W. Baird lowered their price target on Waters from $319.00 to $312.00 and set a neutral rating on the stock in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $318.50.

Waters Stock Performance

WAT stock opened at $346.35 on Tuesday. 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 12-month low of $231.90 and a 12-month high of $367.21. The stock’s 50 day simple moving average is $316.76 and its 200 day simple moving average is $324.29. The firm has a market cap of $20.55 billion, a P/E ratio of 33.99, a P/E/G ratio of 5.84 and a beta of 0.95.

Waters (NYSE:WAT) last announced its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported $2.63 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 company had revenue of $709.00 million for the quarter, compared to analyst estimates of $700.09 million. During the same quarter last year, the business earned $2.80 earnings per share. Waters’s revenue was down 4.3% compared to the same quarter last year. As a group, equities research analysts predict that Waters will post 11.6 EPS for the current year.

Hedge Funds Weigh In On Waters

A number of institutional investors have recently added to or reduced their stakes in WAT. Linscomb Wealth Inc. boosted its position in shares of 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 purchasing an additional 34 shares in the last quarter. Johnson Investment Counsel Inc. grew its holdings in shares of Waters by 3.2% during the second 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 last quarter. Summit Trail Advisors LLC increased its holdings in Waters by 3.0% during the 2nd quarter. Summit Trail Advisors LLC now owns 1,170 shares of the medical instruments supplier’s stock worth $339,000 after purchasing an additional 34 shares in the last quarter. PFG Investments LLC lifted its holdings in shares of Waters by 2.9% in the first quarter. PFG Investments LLC now owns 1,250 shares of the medical instruments supplier’s stock valued at $430,000 after purchasing an additional 35 shares in the last quarter. Finally, Hohimer Wealth Management LLC boosted its holdings in Waters by 2.7% during the 4th quarter. Hohimer Wealth Management LLC now owns 1,354 shares of the medical instruments supplier’s stock worth $446,000 after acquiring an additional 35 shares during the last quarter. 94.01% of the stock is currently owned by institutional investors and hedge funds.

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.