Waters Co. (NYSE:WAT) Receives $375.85 Consensus Price Target from Brokerages

Shares of Waters Co. (NYSE:WAT) have earned an average recommendation of “Hold” from the fourteen brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $375.85.

A number of brokerages have recently commented on WAT. JPMorgan Chase & Co. lifted their target price on shares of Waters from $340.00 to $380.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Sanford C. Bernstein upped their target price on shares of Waters from $345.00 to $360.00 and gave the company a “market perform” rating in a report on Monday, November 4th. TD Cowen raised their price target on Waters from $363.00 to $410.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Bank of America upped their price objective on Waters from $400.00 to $430.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, Barclays lifted their target price on Waters from $330.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, November 4th.

Hedge Funds Weigh In On Waters

Hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Waters by 3.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,728 shares of the medical instruments supplier’s stock valued at $1,081,000 after buying an additional 107 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Waters by 10.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,706 shares of the medical instruments supplier’s stock valued at $785,000 after acquiring an additional 249 shares in the last quarter. Blue Trust Inc. raised its position in Waters by 190.2% during the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock worth $35,000 after acquiring an additional 78 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Waters by 1.6% in the second quarter. Raymond James & Associates now owns 103,259 shares of the medical instruments supplier’s stock valued at $29,957,000 after purchasing an additional 1,645 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Waters by 6.4% in the second quarter. Fifth Third Bancorp now owns 2,030 shares of the medical instruments supplier’s stock valued at $589,000 after purchasing an additional 122 shares during the last quarter. 94.01% of the stock is owned by hedge funds and other institutional investors.

Waters Price Performance

Shares of NYSE:WAT opened at $368.16 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.02 and a quick ratio of 1.38. Waters has a 12 month low of $279.24 and a 12 month high of $397.02. The firm has a market capitalization 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 company’s fifty day moving average price is $367.26 and its 200 day moving average price is $338.04.

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, beating analysts’ consensus estimates of $2.68 by $0.25. The firm had revenue of $740.30 million during the quarter, compared to analysts’ expectations of $712.99 million. Waters had a return on equity of 49.93% and a net margin of 21.43%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.84 EPS. As a group, sell-side analysts predict that Waters will post 11.79 earnings per share for the current fiscal year.

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.