Waters (NYSE:WAT) Price Target Increased to $358.00 by Analysts at TD Cowen

Waters (NYSE:WAT - Free Report) had its target price lifted by TD Cowen from $350.00 to $358.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a hold rating on the medical instruments supplier's stock.

A number of other brokerages have also commented on WAT. Robert W. Baird decreased their price target on shares of Waters from $319.00 to $312.00 and set a neutral rating on the stock in a report on Wednesday. Evercore ISI raised their price target on Waters from $320.00 to $340.00 and gave the company an in-line rating in a research report on Thursday, April 4th. Stifel Nicolaus upped their price objective on Waters from $330.00 to $332.00 and gave the stock a hold rating in a report on Wednesday. Finally, Barclays raised their price objective on Waters from $275.00 to $300.00 and gave the company an underweight rating in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating and ten have issued a hold rating to the company. According to data from MarketBeat, Waters has an average rating of Hold and an average target price of $306.70.

Waters Price Performance

NYSE:WAT traded down $2.26 during mid-day trading on Wednesday, hitting $323.80. 398,469 shares of the stock traded hands, compared to its average volume of 420,346. The business's 50-day moving average price is $333.23 and its 200 day moving average price is $310.76. The company has a quick ratio of 1.57, a current ratio of 2.22 and a debt-to-equity ratio of 2.00. The company has a market cap of $19.20 billion, a PE ratio of 30.01, a price-to-earnings-growth ratio of 6.39 and a beta of 0.98. Waters has a 12-month low of $231.90 and a 12-month high of $363.80.

Waters (NYSE:WAT - Get Free Report) last posted its earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 EPS for the quarter, topping the consensus estimate of $2.10 by $0.11. The business had revenue of $636.80 million during the quarter, compared to analysts' expectations of $635.57 million. Waters had a return on equity of 81.30% and a net margin of 21.72%. The firm's revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.49 earnings per share. On average, analysts expect that Waters will post 11.89 EPS for the current fiscal year.

Insider Buying and Selling at Waters

In other news, Director Linda Baddour sold 500 shares of Waters stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $355.54, for a total value of $177,770.00. Following the sale, the director now directly owns 2,250 shares in the company, valued at approximately $799,965. The sale was disclosed in a filing with the SEC, which is available through this link. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Waters

Several institutional investors and hedge funds have recently modified their holdings of WAT. Indiana Trust & Investment Management CO purchased a new stake in Waters in the first quarter worth about $25,000. Riverview Trust Co purchased a new position in shares of Waters in the 1st quarter valued at approximately $28,000. Exchange Traded Concepts LLC bought a new stake in shares of Waters during the fourth quarter valued at approximately $35,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Waters in the third quarter worth $33,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in Waters during the fourth quarter valued at $39,000. 94.01% of the stock is owned by hedge funds and other institutional investors.

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.