JPMorgan Chase & Co. Lowers Waters (NYSE:WAT) Price Target to $250.00

Waters (NYSE:WAT) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $260.00 to $250.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the medical instruments supplier’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 1.22% from the stock’s previous close.

A number of other brokerages have also commented on WAT. Wells Fargo & Company cut their price target on Waters from $305.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Wednesday. TheStreet downgraded Waters from a “b-” rating to a “c+” rating in a research note on Wednesday, October 18th. Sanford C. Bernstein began coverage on shares of Waters in a report on Thursday, September 28th. They set a “market perform” rating and a $280.00 price objective on the stock. Barclays lowered their price target on Waters from $288.00 to $270.00 in a research report on Friday, September 29th. Finally, StockNews.com started coverage on Waters in a research report on Thursday, October 5th. They set a “hold” rating for the company. Ten investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $302.00.

Waters Stock Performance

NYSE WAT opened at $253.08 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 1.41 and a debt-to-equity ratio of 3.35. The firm has a market capitalization of $14.96 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 3.45 and a beta of 0.90. The firm’s 50 day simple moving average is $261.88 and its 200 day simple moving average is $269.85. Waters has a 1 year low of $231.90 and a 1 year high of $353.70.

Waters (NYSE:WAT) last posted its quarterly earnings results on Tuesday, November 7th. The medical instruments supplier reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.28. Waters had a net margin of 21.80% and a return on equity of 102.22%. The company had revenue of $711.69 million for the quarter, compared to the consensus estimate of $722.27 million. During the same period last year, the company posted $2.64 EPS. The firm’s quarterly revenue was up .4% compared to the same quarter last year. As a group, research analysts expect that Waters will post 11.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Waters

Several hedge funds have recently bought and sold shares of WAT. ANTIPODES PARTNERS Ltd purchased a new position in shares of Waters during the first quarter worth about $25,000. First Capital Advisors Group LLC. purchased a new position in shares of Waters in the 2nd quarter worth about $26,000. PSI Advisors LLC purchased a new position in shares of Waters in the 2nd quarter worth about $26,000. Cascade Investment Advisors Inc. purchased a new position in shares of Waters in the 1st quarter worth about $31,000. Finally, Institutional & Family Asset Management LLC purchased a new position in shares of Waters in the 2nd quarter worth about $27,000. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Waters Company Profile

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.