Waters (NYSE:WAT) Shares Gap Down to $304.18

Waters Co. (NYSE:WAT - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $304.18, but opened at $296.30. Waters shares last traded at $292.62, with a volume of 102,246 shares traded.

Analyst Ratings Changes

A number of analysts have commented on the company. Barclays lifted their price target on Waters from $275.00 to $300.00 and gave the stock an "underweight" rating in a research report on Monday, February 12th. Evercore ISI lifted their price target on Waters from $320.00 to $340.00 and gave the stock an "in-line" rating in a research report on Thursday, April 4th. Finally, Stifel Nicolaus lifted their price target on Waters from $290.00 to $330.00 and gave the stock a "hold" rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $298.67.

Waters Trading Down 3.3 %

The firm has a market cap of $17.45 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 6.24 and a beta of 0.92. The company has a fifty day moving average price of $337.07 and a 200-day moving average price of $305.46. The company has a current ratio of 2.22, a quick ratio of 1.57 and a debt-to-equity ratio of 2.00.

Waters (NYSE:WAT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The medical instruments supplier reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.06. The business had revenue of $819.50 million during the quarter, compared to analysts' expectations of $815.50 million. Waters had a return on equity of 81.30% and a net margin of 21.72%. The company's revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.84 EPS. As a group, research analysts expect that Waters Co. will post 11.89 EPS for the current year.

Insider Activity at Waters

In related news, Director Linda Baddour sold 500 shares of Waters stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $355.54, for a total value of $177,770.00. Following the completion of the transaction, the director now owns 2,250 shares in the company, valued at approximately $799,965. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Waters

Several large investors have recently bought and sold shares of the company. Indiana Trust & Investment Management CO acquired a new position in Waters during the first quarter worth $25,000. Riverview Trust Co acquired a new position in Waters during the first quarter worth $28,000. First Capital Advisors Group LLC. acquired a new position in Waters during the second quarter worth $26,000. Exchange Traded Concepts LLC acquired a new position in Waters during the fourth quarter worth $35,000. Finally, Harbour Investments Inc. raised its stake in shares of Waters by 11,000.0% in the second quarter. Harbour Investments Inc. now owns 111 shares of the medical instruments supplier's stock valued at $30,000 after acquiring an additional 110 shares in the last quarter. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

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.