Waters (NYSE:WAT) Coverage Initiated at Scotiabank

Analysts at Scotiabank began coverage on shares of Waters (NYSE:WAT) in a research report issued on Monday. The brokerage set a “sector perform” rating on the medical instruments supplier’s stock.

WAT has been the subject of several other research reports. Wells Fargo & Company raised their target price on Waters from $380.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Stifel Nicolaus lifted their target price on Waters from $332.00 to $360.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Jefferies Financial Group raised Waters from a “hold” rating to a “buy” rating and upped their price target for the company from $355.00 to $415.00 in a research note on Tuesday, October 8th. Evercore ISI lifted their price objective on Waters from $335.00 to $355.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Waters from $340.00 to $380.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Waters currently has an average rating of “Hold” and a consensus price target of $375.85.

Waters Stock Performance

Shares of NYSE WAT opened at $368.16 on Monday. Waters has a 12 month low of $279.24 and a 12 month high of $397.02. The company has a market cap of $21.86 billion, a P/E ratio of 35.13, a P/E/G ratio of 6.92 and a beta of 1.01. The business’s 50 day moving average is $367.26 and its two-hundred day moving average is $338.25. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 1.14.

Waters (NYSE:WAT) last announced its earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.25. The business had revenue of $740.30 million for the quarter, compared to analyst estimates of $712.99 million. Waters had a net margin of 21.43% and a return on equity of 49.93%. Waters’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.84 earnings per share. On average, equities analysts expect that Waters will post 11.79 EPS for the current year.

Hedge Funds Weigh In On Waters

Several institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in Waters by 70.7% during the 3rd quarter. Principal Financial Group Inc. now owns 656,019 shares of the medical instruments supplier’s stock worth $236,095,000 after buying an additional 271,804 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Waters by 34.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 393,890 shares of the medical instruments supplier’s stock worth $141,757,000 after acquiring an additional 100,811 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Waters by 21.0% during the second quarter. Dimensional Fund Advisors LP now owns 448,304 shares of the medical instruments supplier’s stock worth $130,053,000 after purchasing an additional 77,951 shares during the period. Applied Finance Capital Management LLC lifted its holdings in shares of Waters by 3,627.0% during the 3rd quarter. Applied Finance Capital Management LLC now owns 68,987 shares of the medical instruments supplier’s stock valued at $24,828,000 after purchasing an additional 67,136 shares in the last quarter. Finally, Natixis Advisors LLC grew its position in shares of Waters by 71.9% in the 3rd quarter. Natixis Advisors LLC now owns 140,992 shares of the medical instruments supplier’s stock valued at $50,742,000 after purchasing an additional 58,983 shares during the period. Institutional investors and hedge funds own 94.01% of the company’s stock.

About Waters

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.