Waters (NYSE:WAT) Shares Gap Up to $299.23

Waters Co. (NYSE:WAT) gapped up prior to trading on Tuesday . The stock had previously closed at $299.23, but opened at $309.99. Waters shares last traded at $308.34, with a volume of 54,170 shares traded.

Analyst Upgrades and Downgrades

WAT has been the subject of several recent analyst reports. Evercore ISI increased their price objective on shares of Waters from $320.00 to $340.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Barclays increased their price objective on shares of Waters from $275.00 to $300.00 and gave the company an “underweight” rating in a report on Monday, February 12th. Finally, Stifel Nicolaus increased their target price on shares of Waters from $290.00 to $330.00 and gave the company a “hold” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $298.67.

Waters Trading Down 1.0 %

The firm has a market capitalization of $18.40 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 6.23 and a beta of 0.92. The firm’s 50 day moving average is $335.35 and its 200 day moving average is $306.69. The company has a quick ratio of 1.57, a current ratio of 2.22 and a debt-to-equity ratio of 2.00.

Waters (NYSE:WAT) last issued its quarterly earnings results on Tuesday, February 6th. The medical instruments supplier reported $3.62 EPS for the quarter, beating the consensus estimate of $3.56 by $0.06. The business had revenue of $819.50 million during the quarter, compared to the consensus estimate of $815.50 million. Waters had a net margin of 21.72% and a return on equity of 81.30%. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.84 EPS. Equities analysts forecast that Waters Co. will post 11.89 earnings per share for the current year.

Insider Activity at Waters

In related news, Director Linda Baddour sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $355.54, for a total value of $177,770.00. Following the completion of the sale, the director now owns 2,250 shares in the company, valued at approximately $799,965. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On Waters

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WAT. Indiana Trust & Investment Management CO purchased a new stake in Waters in the 1st quarter worth approximately $25,000. Riverview Trust Co purchased a new stake in Waters in the 1st quarter worth approximately $28,000. Private Trust Co. NA lifted its position in Waters by 55.3% in the 3rd quarter. Private Trust Co. NA now owns 118 shares of the medical instruments supplier’s stock worth $32,000 after buying an additional 42 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Waters in the 3rd quarter worth approximately $33,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Waters in the 4th quarter worth approximately $35,000. 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.