Waters (NYSE:WAT) Price Target Raised to $358.00 at TD Cowen

Waters (NYSE:WAT) had its price target lifted by stock analysts at TD Cowen from $350.00 to $358.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the medical instruments supplier’s stock. TD Cowen’s price objective would suggest a potential upside of 6.41% from the company’s previous close.

Several other research firms have also recently issued reports on WAT. Stifel Nicolaus upped their target price on shares of Waters from $330.00 to $332.00 and gave the company a “hold” rating in a research note on Wednesday. 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 research report on Thursday, April 4th. Barclays raised their target price on shares of Waters from $275.00 to $300.00 and gave the stock an “underweight” rating in a report on Monday, February 12th. Finally, Robert W. Baird decreased their target price on shares of Waters from $319.00 to $312.00 and set a “neutral” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $306.70.

Waters Price Performance

Shares of WAT opened at $336.42 on Wednesday. Waters has a twelve month low of $231.90 and a twelve month high of $363.80. The company has a market capitalization of $19.95 billion, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 6.39 and a beta of 0.98. The firm has a 50 day moving average of $332.93 and a 200 day moving average of $311.03. 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 posted its earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.11. The business had revenue of $636.80 million during the quarter, compared to analyst estimates of $635.57 million. Waters had a return on equity of 81.30% and a net margin of 21.72%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.49 EPS. As a group, equities research analysts anticipate that Waters will post 11.89 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Linda Baddour sold 500 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was 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 directly owns 2,250 shares in the company, valued at approximately $799,965. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.82% of the company’s stock.

Institutional Trading of Waters

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Indiana Trust & Investment Management CO bought a new position in shares of Waters during the 1st quarter valued at approximately $25,000. Riverview Trust Co purchased a new position in Waters during the first quarter valued at approximately $28,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Waters in the third quarter worth approximately $33,000. Exchange Traded Concepts LLC purchased a new stake in shares of Waters in the fourth quarter worth $35,000. Finally, VisionPoint Advisory Group LLC raised its position in shares of Waters by 300.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 144 shares of the medical instruments supplier’s stock valued at $39,000 after purchasing an additional 108 shares during the period. Hedge funds and other institutional investors own 94.01% of the company’s stock.

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.