Waters Co. (NYSE:WAT) Receives $390.19 Consensus Target Price from Analysts

Shares of Waters Co. (NYSE:WAT) have earned an average recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, Marketbeat reports. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $390.19.

Several equities analysts have weighed in on the company. KeyCorp raised Waters from a “sector weight” rating to an “overweight” rating and set a $460.00 price objective for the company in a report on Monday, March 31st. Bank of America lowered their price target on shares of Waters from $430.00 to $410.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Sanford C. Bernstein set a $400.00 price objective on shares of Waters and gave the stock an “outperform” rating in a report on Wednesday, April 16th. Baird R W upgraded shares of Waters from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 26th. Finally, StockNews.com downgraded Waters from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

Waters Price Performance

WAT opened at $347.04 on Friday. Waters has a 1 year low of $279.24 and a 1 year high of $423.56. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.94 and a quick ratio of 0.65. The firm’s fifty day moving average price is $345.76 and its two-hundred day moving average price is $371.10. The company has a market capitalization of $20.65 billion, a price-to-earnings ratio of 32.40, a P/E/G ratio of 3.79 and a beta of 1.14.

Waters (NYSE:WAT) last issued its quarterly earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. The company had revenue of $661.71 million during the quarter, compared to the consensus estimate of $655.50 million. Waters had a return on equity of 46.31% and a net margin of 21.56%. Waters’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the business posted $2.21 earnings per share. As a group, analysts anticipate that Waters will post 12.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Waters

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealthfront Advisers LLC boosted its position in shares of Waters by 106,144.4% during the 4th quarter. Wealthfront Advisers LLC now owns 3,087,461 shares of the medical instruments supplier’s stock valued at $1,145,386,000 after acquiring an additional 3,084,555 shares during the last quarter. Norges Bank purchased a new stake in Waters in the fourth quarter valued at approximately $284,415,000. GAMMA Investing LLC lifted its position in Waters by 50,228.3% during the first quarter. GAMMA Investing LLC now owns 662,320 shares of the medical instruments supplier’s stock valued at $244,111,000 after purchasing an additional 661,004 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in Waters by 676.8% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 705,733 shares of the medical instruments supplier’s stock worth $260,112,000 after buying an additional 614,877 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Waters by 15.7% in the 1st quarter. Alliancebernstein L.P. now owns 3,070,671 shares of the medical instruments supplier’s stock worth $1,131,757,000 after buying an additional 416,669 shares during the last quarter. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Waters Company Profile

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.