Waters (NYSE:WAT) Upgraded to “Neutral” at Bank of America

Waters (NYSE:WATGet Rating) was upgraded by analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued on Tuesday, The Fly reports.

WAT has been the topic of a number of other reports. Wells Fargo & Company raised shares of Waters from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $320.00 to $315.00 in a research report on Monday, April 25th. SVB Leerink lowered their price objective on shares of Waters from $375.00 to $350.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 2nd. Finally, StockNews.com assumed coverage on shares of Waters in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Waters has an average rating of “Hold” and an average price target of $373.83.

NYSE WAT opened at $320.93 on Tuesday. The company has a debt-to-equity ratio of 3.85, a current ratio of 2.30 and a quick ratio of 1.75. The firm’s fifty day moving average price is $314.64 and its 200 day moving average price is $329.11. The company has a market capitalization of $19.33 billion, a price-to-earnings ratio of 28.08, a price-to-earnings-growth ratio of 3.14 and a beta of 0.85. Waters has a 12 month low of $288.32 and a 12 month high of $428.22.

Waters (NYSE:WATGet Rating) last posted its earnings results on Tuesday, May 3rd. The medical instruments supplier reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.48. The firm had revenue of $690.60 million for the quarter, compared to the consensus estimate of $634.08 million. Waters had a net margin of 24.57% and a return on equity of 221.08%. The company’s revenue was up 13.5% on a year-over-year basis. During the same period last year, the firm posted $2.29 EPS. As a group, sell-side analysts forecast that Waters will post 12.03 earnings per share for the current year.

Several large investors have recently modified their holdings of WAT. Ellevest Inc. boosted its holdings in shares of Waters by 144.4% in the first quarter. Ellevest Inc. now owns 88 shares of the medical instruments supplier’s stock valued at $27,000 after acquiring an additional 52 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new stake in shares of Waters in the fourth quarter valued at about $48,000. Kenfarb & CO. purchased a new stake in shares of Waters in the fourth quarter valued at about $48,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Waters in the third quarter valued at about $56,000. Finally, Tyler Stone Wealth Management purchased a new stake in shares of Waters in the fourth quarter valued at about $56,000. 90.65% of the stock is currently owned by institutional investors and hedge funds.

Waters Company Profile (Get Rating)

Waters Corporation, a specialty measurement company, 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.

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