Waters Co. (NYSE:WAT) Given Average Rating of “Reduce” by Brokerages

Waters Co. (NYSE:WATGet Free Report) has been given an average recommendation of “Reduce” by the ten ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and nine have assigned a hold recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $305.78.

Several brokerages have recently issued reports on WAT. Evercore ISI raised their target price on shares of Waters from $320.00 to $340.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. 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 research note on Wednesday, May 8th. Stifel Nicolaus raised their price target on Waters from $330.00 to $332.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. TD Cowen raised their price objective on Waters from $350.00 to $358.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Finally, Barclays lowered their price objective on Waters from $300.00 to $295.00 and set an “underweight” rating for the company in a research report on Wednesday, May 8th.

View Our Latest Report on WAT

Insiders Place Their Bets

In other news, Director Christopher A. Kuebler sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $361.64, for a total transaction of $1,446,560.00. Following the completion of the transaction, the director now directly owns 14,716 shares of the company’s stock, valued at approximately $5,321,894.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Waters news, Director Christopher A. Kuebler sold 4,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $361.64, for a total transaction of $1,446,560.00. Following the completion of the sale, the director now directly owns 14,716 shares of the company’s stock, valued at approximately $5,321,894.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard H. Fearon acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were bought at an average cost of $332.90 per share, with a total value of $332,900.00. Following the completion of the transaction, the director now directly owns 1,653 shares in the company, valued at approximately $550,283.70. The disclosure for this purchase can be found here. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On Waters

Several hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Waters by 9.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 55,889 shares of the medical instruments supplier’s stock worth $15,325,000 after purchasing an additional 4,936 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in Waters in the fourth quarter valued at $2,637,000. Raymond James & Associates boosted its holdings in Waters by 295.9% in the fourth quarter. Raymond James & Associates now owns 127,879 shares of the medical instruments supplier’s stock valued at $42,102,000 after acquiring an additional 95,577 shares during the last quarter. Motley Fool Wealth Management LLC boosted its holdings in Waters by 39.6% in the fourth quarter. Motley Fool Wealth Management LLC now owns 41,657 shares of the medical instruments supplier’s stock valued at $13,728,000 after acquiring an additional 11,823 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Waters by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 357,257 shares of the medical instruments supplier’s stock valued at $117,620,000 after acquiring an additional 13,093 shares during the last quarter. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Waters Stock Performance

Shares of WAT stock opened at $308.90 on Friday. The firm has a market capitalization of $18.32 billion, a PE ratio of 30.31, a price-to-earnings-growth ratio of 5.21 and a beta of 0.98. The firm has a fifty day simple moving average of $330.45 and a two-hundred day simple moving average of $321.37. The company has a current ratio of 1.94, a quick ratio of 1.30 and a debt-to-equity ratio of 1.60. Waters has a 12 month low of $231.90 and a 12 month high of $367.21.

Waters (NYSE:WATGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.11. Waters had a net margin of 20.75% and a return on equity of 66.59%. 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 firm earned $2.49 EPS. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. Analysts forecast that Waters will post 11.86 EPS for the current fiscal year.

Waters Company Profile

(Get Free Report

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.

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Analyst Recommendations for Waters (NYSE:WAT)

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