Waters (NYSE:WAT) Sees Strong Trading Volume Following Earnings Beat

Waters Co. (NYSE:WAT) shares saw strong trading volume on Wednesday following a stronger than expected earnings report. 423,631 shares were traded during trading, an increase of 4% from the previous session’s volume of 407,499 shares.The stock last traded at $372.11 and had previously closed at $405.29.

The medical instruments supplier reported $4.10 EPS for the quarter, beating the consensus estimate of $4.02 by $0.08. Waters had a return on equity of 49.93% and a net margin of 21.43%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WAT. Barclays upgraded Waters from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $360.00 to $415.00 in a research note on Monday. Stifel Nicolaus upped their price objective on Waters from $332.00 to $360.00 and gave the company a “hold” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. upped their price target on Waters from $340.00 to $380.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. TD Cowen upped their price target on Waters from $363.00 to $410.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, Scotiabank assumed coverage on Waters in a research report on Monday, December 23rd. They set a “sector perform” rating and a $430.00 price target on the stock. Ten analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Waters presently has an average rating of “Hold” and an average target price of $388.64.

Institutional Investors Weigh In On Waters

Institutional investors and hedge funds have recently bought and sold shares of the business. Kennebec Savings Bank purchased a new position in shares of Waters in the 3rd quarter valued at approximately $33,000. Bank of Jackson Hole Trust purchased a new position in shares of Waters in the 4th quarter valued at approximately $34,000. Ashton Thomas Securities LLC purchased a new position in shares of Waters in the 3rd quarter valued at approximately $35,000. Fortitude Family Office LLC lifted its stake in shares of Waters by 235.7% in the 4th quarter. Fortitude Family Office LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 66 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Waters by 129.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Waters Trading Down 8.6 %

The company has a market cap of $21.99 billion, a PE ratio of 35.34, a PEG ratio of 7.37 and a beta of 1.01. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.14. The stock has a 50 day moving average price of $390.34 and a 200 day moving average price of $363.72.

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.