Waters (NYSE:WAT) Price Target Cut to $352.00 by Analysts at Robert W. Baird

Waters (NYSE:WAT) had its target price cut by stock analysts at Robert W. Baird from $374.00 to $352.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the medical instruments supplier’s stock. Robert W. Baird’s price objective points to a potential upside of 21.42% from the stock’s previous close.

Other analysts have also issued reports about the company. UBS Group reiterated a “neutral” rating on shares of Waters in a report on Tuesday. Wells Fargo & Company lowered Waters from a “strong-buy” rating to a “hold” rating and cut their price objective for the stock from $420.00 to $330.00 in a report on Tuesday. Wall Street Zen upgraded Waters from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. KeyCorp upgraded 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. Finally, Scotiabank reiterated a “sector outperform” rating and set a $465.00 price objective on shares of Waters in a report on Friday. Ten research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $381.94.

Waters Price Performance

WAT opened at $289.91 on Wednesday. The stock has a fifty day moving average of $347.75 and a 200-day moving average of $362.50. The firm has a market capitalization of $17.25 billion, a P/E ratio of 26.31, a PEG ratio of 3.01 and a beta of 1.10. Waters has a 12-month low of $286.00 and a 12-month high of $423.56. The company has a quick ratio of 1.28, a current ratio of 1.81 and a debt-to-equity ratio of 0.69.

Waters (NYSE:WAT) last released its earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 earnings per share (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 analyst estimates of $655.50 million. Waters had a return on equity of 41.70% and a net margin of 22.02%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.21 earnings per share. Equities analysts forecast that Waters will post 12.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Waters

Hedge funds and other institutional investors have recently made changes to their positions in the business. Olde Wealth Management LLC acquired a new stake in shares of Waters in the first quarter valued at about $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Waters in the fourth quarter valued at about $28,000. Zions Bancorporation National Association UT acquired a new stake in Waters during the first quarter worth about $28,000. IFP Advisors Inc grew its position in Waters by 118.9% during the first quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier’s stock worth $30,000 after buying an additional 44 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in Waters by 129.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier’s stock worth $35,000 after buying an additional 53 shares in the last quarter. 94.01% of the stock is owned by institutional investors and hedge funds.

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.