Waters (NYSE:WAT) Price Target Cut to $295.00

Waters (NYSE:WAT) had its target price cut by research analysts at Barclays from $300.00 to $295.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the medical instruments supplier’s stock. Barclays‘s target price would suggest a potential downside of 12.31% from the stock’s previous close.

WAT has been the subject of several other reports. Stifel Nicolaus lifted their price target on shares of Waters from $330.00 to $332.00 and gave the company a “hold” rating in a report on Wednesday. TD Cowen boosted their target price on Waters from $350.00 to $358.00 and gave the stock a “hold” rating in a report on Wednesday. Robert W. Baird dropped their price target on Waters from $319.00 to $312.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Evercore ISI boosted their price objective on Waters from $320.00 to $340.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat, Waters currently has an average rating of “Hold” and a consensus target price of $306.70.

Waters Stock Up 3.9 %

Shares of WAT stock opened at $336.42 on Wednesday. The firm has a market cap of $19.95 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 6.39 and a beta of 0.98. The stock has a 50 day moving average of $332.93 and a 200-day moving average of $311.03. Waters has a 12 month low of $231.90 and a 12 month high of $363.80. 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 released its quarterly earnings data on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.11. Waters had a return on equity of 81.30% and a net margin of 21.72%. The company had revenue of $636.80 million for the quarter, compared to the consensus estimate of $635.57 million. During the same period in the previous year, the business earned $2.49 earnings per share. The company’s quarterly revenue was down 7.0% on a year-over-year basis. On average, equities analysts predict that Waters will post 11.89 EPS for the current year.

Insiders Place Their Bets

In other news, Director Linda Baddour sold 500 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $355.54, for a total value of $177,770.00. Following the transaction, the director now owns 2,250 shares of the company’s stock, valued at approximately $799,965. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Waters

A number of hedge funds and other institutional investors have recently bought and sold shares of WAT. GUARDCAP ASSET MANAGEMENT Ltd acquired a new position in shares of Waters in the 4th quarter valued at $361,839,000. Norges Bank acquired a new stake in shares of Waters in the 4th quarter valued at approximately $206,286,000. London Co. of Virginia acquired a new position in Waters during the third quarter valued at approximately $158,723,000. Nordea Investment Management AB increased its stake in Waters by 129.9% in the fourth quarter. Nordea Investment Management AB now owns 973,537 shares of the medical instruments supplier’s stock valued at $322,017,000 after purchasing an additional 550,112 shares in the last quarter. Finally, Nuance Investments LLC raised its holdings in Waters by 356.0% in the fourth quarter. Nuance Investments LLC now owns 419,363 shares of the medical instruments supplier’s stock worth $138,067,000 after purchasing an additional 327,389 shares during the period. 94.01% of the stock is owned by institutional investors.

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.