TD Cowen Raises Waters (NYSE:WAT) Price Target to $363.00

Waters (NYSE:WAT) had its price objective increased by equities research analysts at TD Cowen from $325.00 to $363.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the medical instruments supplier’s stock. TD Cowen’s price objective would indicate a potential upside of 4.46% from the stock’s current price.

A number of other analysts have also commented on WAT. Robert W. Baird decreased their price objective on Waters from $319.00 to $312.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Stifel Nicolaus boosted their price objective on Waters from $330.00 to $332.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. SVB Leerink raised Waters from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $325.00 to $375.00 in a report on Thursday. Jefferies Financial Group assumed coverage on Waters in a report on Monday, June 3rd. They set a “hold” rating and a $320.00 price objective for the company. Finally, Barclays decreased their price objective on Waters from $295.00 to $275.00 and set an “underweight” rating for the company in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $310.58.

Waters Trading Up 3.3 %

WAT traded up $11.21 during trading on Thursday, reaching $347.49. 407,576 shares of the company’s stock were exchanged, compared to its average volume of 449,111. Waters has a one year low of $231.90 and a one year high of $367.21. The company has a current ratio of 1.94, a quick ratio of 1.30 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $20.61 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 5.23 and a beta of 0.95. The firm has a fifty day moving average price of $303.73 and a two-hundred day moving average price of $321.18.

Waters (NYSE:WAT) last issued its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.08. Waters had a net margin of 20.75% and a return on equity of 66.59%. The firm had revenue of $709.00 million for the quarter, compared to the consensus estimate of $700.09 million. During the same quarter in the previous year, the company earned $2.80 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities research analysts forecast that Waters will post 11.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard H. Fearon bought 1,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were purchased at an average price of $332.90 per share, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Christopher A. Kuebler sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total value of $1,446,560.00. Following the transaction, the director now owns 14,716 shares of the company’s stock, valued at $5,321,894.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard H. Fearon purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average cost of $332.90 per share, for a total transaction of $332,900.00. Following the acquisition, the director now owns 1,653 shares of the company’s stock, valued at approximately $550,283.70. The disclosure for this purchase can be found here. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WAT. Global Retirement Partners LLC increased its holdings in shares of Waters by 90.8% in the fourth quarter. Global Retirement Partners LLC now owns 435 shares of the medical instruments supplier’s stock worth $134,000 after purchasing an additional 207 shares during the period. Fifth Third Bancorp increased its stake in Waters by 3.5% in the fourth quarter. Fifth Third Bancorp now owns 1,848 shares of the medical instruments supplier’s stock valued at $608,000 after acquiring an additional 63 shares during the last quarter. State of Michigan Retirement System increased its stake in Waters by 0.6% in the fourth quarter. State of Michigan Retirement System now owns 16,897 shares of the medical instruments supplier’s stock valued at $5,563,000 after acquiring an additional 100 shares during the last quarter. Ballentine Partners LLC increased its stake in Waters by 77.4% in the fourth quarter. Ballentine Partners LLC now owns 2,422 shares of the medical instruments supplier’s stock valued at $797,000 after acquiring an additional 1,057 shares during the last quarter. Finally, Camelot Portfolios LLC bought a new position in Waters in the fourth quarter valued at $237,000. Institutional investors own 94.01% of the company’s stock.

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.