ValuEngine Downgrades Waters (WAT) to Hold

Waters (NYSE:WAT) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other brokerages also recently commented on WAT. BTIG Research restated a “buy” rating on shares of Waters in a research report on Thursday, January 25th. Zacks Investment Research downgraded shares of Waters from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Robert W. Baird raised their price objective on shares of Waters from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. JPMorgan Chase raised their price objective on shares of Waters from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Finally, Citigroup raised their price objective on shares of Waters from $190.00 to $223.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $207.31.

Shares of NYSE:WAT opened at $190.48 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 6.44 and a quick ratio of 5.87. The stock has a market capitalization of $14.89 billion, a P/E ratio of 25.43, a PEG ratio of 2.22 and a beta of 0.94. Waters has a 52 week low of $189.21 and a 52 week high of $190.85.

Waters (NYSE:WAT) last announced its quarterly earnings data on Tuesday, April 24th. The medical instruments supplier reported $1.59 EPS for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.04. The firm had revenue of $530.70 million during the quarter, compared to the consensus estimate of $534.17 million. Waters had a net margin of 1.14% and a return on equity of 25.80%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 earnings per share. sell-side analysts anticipate that Waters will post 8.21 earnings per share for the current fiscal year.

Waters announced that its board has initiated a share buyback plan on Tuesday, April 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the medical instruments supplier to repurchase up to 18.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

In other news, SVP Terrence P. Kelly sold 1,312 shares of Waters stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $212.52, for a total transaction of $278,826.24. Following the completion of the sale, the senior vice president now directly owns 5,130 shares in the company, valued at approximately $1,090,227.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael C. Harrington sold 16,078 shares of Waters stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $194.67, for a total transaction of $3,129,904.26. Following the sale, the senior vice president now owns 18,115 shares of the company’s stock, valued at $3,526,447.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,329 shares of company stock valued at $3,813,677. Insiders own 0.98% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Legal & General Group Plc raised its position in shares of Waters by 0.3% during the 1st quarter. Legal & General Group Plc now owns 406,365 shares of the medical instruments supplier’s stock worth $80,757,000 after purchasing an additional 1,345 shares during the last quarter. TLP Group LLC raised its position in shares of Waters by 71,133.3% during the 1st quarter. TLP Group LLC now owns 2,137 shares of the medical instruments supplier’s stock worth $425,000 after purchasing an additional 2,134 shares during the last quarter. Verition Fund Management LLC raised its position in shares of Waters by 388.3% during the 1st quarter. Verition Fund Management LLC now owns 6,871 shares of the medical instruments supplier’s stock worth $1,365,000 after purchasing an additional 5,464 shares during the last quarter. Sciencast Management LP acquired a new position in shares of Waters during the 1st quarter worth approximately $1,374,000. Finally, Point72 Asia Hong Kong Ltd raised its position in shares of Waters by 333.4% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,517 shares of the medical instruments supplier’s stock worth $301,000 after purchasing an additional 1,167 shares during the last quarter. Institutional investors own 93.94% of the company’s stock.

About Waters

Waters Corporation, a specialty measurement company, provides analytical workflow solutions in the United States, Europe, Asia, and internationally. It designs, manufactures, sells, and services high and ultra performance liquid chromatography technology, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Waters (NYSE:WAT)

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