Evercore ISI Increases Waters (NYSE:WAT) Price Target to $355.00

Waters (NYSE:WAT) had its target price upped by Evercore ISI from $335.00 to $355.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has an in-line rating on the medical instruments supplier’s stock.

Several other brokerages have also commented on WAT. Leerink Partners upgraded shares of Waters from a market perform rating to an outperform rating and increased their price target for the company from $325.00 to $375.00 in a research note on Thursday, August 1st. TD Cowen increased their target price on shares of Waters from $325.00 to $363.00 and gave the company a hold rating in a research report on Thursday, August 1st. Wells Fargo & Company began coverage on shares of Waters in a research report on Tuesday, August 27th. They issued an overweight rating and a $380.00 price target for the company. Barclays raised their price objective on Waters from $275.00 to $300.00 and gave the stock an underweight rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group upgraded Waters to a hold rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $327.00.

Waters Trading Down 0.2 %

NYSE WAT opened at $354.40 on Tuesday. Waters has a 52 week low of $231.90 and a 52 week high of $367.21. The firm has a 50 day moving average of $336.73 and a two-hundred day moving average of $324.32. The stock has a market capitalization of $21.04 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 6.20 and a beta of 0.95. The company has a quick ratio of 1.42, a current ratio of 2.10 and a debt-to-equity ratio of 1.42.

Waters (NYSE:WAT) last posted its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.08. The company had revenue of $709.00 million for the quarter, compared to analysts’ expectations of $700.09 million. Waters had a return on equity of 56.81% and a net margin of 20.71%. Waters’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $2.80 earnings per share. As a group, research analysts expect that Waters will post 11.6 EPS for the current fiscal year.

Institutional Trading of Waters

Hedge funds have recently added to or reduced their stakes in the stock. Rockland Trust Co. purchased a new stake in shares of Waters during the third quarter worth approximately $228,000. SG Americas Securities LLC increased its stake in Waters by 6.9% in the 3rd quarter. SG Americas Securities LLC now owns 15,691 shares of the medical instruments supplier’s stock valued at $5,647,000 after buying an additional 1,013 shares during the period. Czech National Bank raised its position in Waters by 7.0% during the 3rd quarter. Czech National Bank now owns 12,092 shares of the medical instruments supplier’s stock worth $4,352,000 after buying an additional 789 shares during the last quarter. Armstrong Henry H Associates Inc. lifted its stake in shares of Waters by 1.9% in the 3rd quarter. Armstrong Henry H Associates Inc. now owns 11,168 shares of the medical instruments supplier’s stock worth $4,019,000 after acquiring an additional 210 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Waters in the second quarter valued at about $605,000. 94.01% of the stock is 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.