Waters (NYSE:WAT) PT Raised to $348.00 at Robert W. Baird

Waters (NYSE:WATGet Rating) had its price objective increased by Robert W. Baird from $340.00 to $348.00 in a research note published on Wednesday morning, The Fly reports.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company upgraded Waters from an underweight rating to an equal weight rating and decreased their target price for the stock from $320.00 to $315.00 in a research note on Monday, April 25th. UBS Group started coverage on Waters in a research report on Wednesday, July 20th. They set a neutral rating and a $349.00 price target on the stock. Cowen lifted their price target on Waters to $358.00 in a research report on Friday, May 20th. Barclays started coverage on Waters in a research report on Tuesday, May 17th. They set an overweight rating and a $375.00 price target on the stock. Finally, Bank of America raised Waters from an underperform rating to a neutral rating and lifted their price target for the stock from $320.00 to $330.00 in a research report on Tuesday, May 17th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $350.14.

Waters Price Performance

WAT stock opened at $337.87 on Wednesday. The business has a 50 day moving average price of $334.92 and a 200 day moving average price of $323.29. The stock has a market cap of $20.35 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 4.10 and a beta of 0.81. Waters has a fifty-two week low of $288.32 and a fifty-two week high of $428.22. The company has a quick ratio of 1.75, a current ratio of 0.99 and a debt-to-equity ratio of 3.85.

Waters (NYSE:WATGet Rating) last posted its earnings results on Tuesday, August 2nd. The medical instruments supplier reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.12. The firm had revenue of $714.30 million during the quarter, compared to analysts’ expectations of $706.77 million. Waters had a return on equity of 203.31% and a net margin of 24.21%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.60 earnings per share. Equities research analysts anticipate that Waters will post 12 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Christopher A. Kuebler sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $328.78, for a total value of $1,315,120.00. Following the transaction, the director now owns 14,064 shares of the company’s stock, valued at $4,623,961.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of WAT. Vestmark Advisory Solutions Inc. increased its holdings in shares of Waters by 5.1% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 1,067 shares of the medical instruments supplier’s stock valued at $398,000 after purchasing an additional 52 shares during the period. Yousif Capital Management LLC acquired a new position in Waters during the fourth quarter worth $3,622,000. Xponance Inc. grew its holdings in Waters by 11.1% during the fourth quarter. Xponance Inc. now owns 9,899 shares of the medical instruments supplier’s stock worth $3,688,000 after acquiring an additional 990 shares during the period. Avestar Capital LLC grew its holdings in Waters by 22.1% during the fourth quarter. Avestar Capital LLC now owns 735 shares of the medical instruments supplier’s stock worth $274,000 after acquiring an additional 133 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in Waters by 139.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,282 shares of the medical instruments supplier’s stock worth $4,576,000 after acquiring an additional 7,153 shares during the period. Institutional investors and hedge funds own 90.65% of the company’s stock.

About Waters

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Waters Corporation, a specialty measurement company, 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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