Wall Street Zen Upgrades Waters (NYSE:WAT) to "Buy"

Waters (NYSE:WAT - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Thursday.

A number of other research firms also recently issued reports on WAT. Baird R W raised shares of Waters from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 26th. Barclays decreased their target price on shares of Waters from $400.00 to $350.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Sanford C. Bernstein set a $400.00 price target on shares of Waters and gave the company an "outperform" rating in a report on Wednesday, April 16th. Robert W. Baird boosted their price objective on Waters from $355.00 to $374.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. upped their price objective on Waters from $380.00 to $390.00 and gave the company a "neutral" rating in a research report on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $390.19.

Waters Price Performance

Shares of NYSE:WAT traded up $1.12 during mid-day trading on Thursday, reaching $348.48. The stock had a trading volume of 105,017 shares, compared to its average volume of 479,012. The business's 50 day moving average price is $345.76 and its 200 day moving average price is $371.10. Waters has a 1 year low of $279.24 and a 1 year high of $423.56. The company has a market cap of $20.74 billion, a P/E ratio of 32.54, a price-to-earnings-growth ratio of 3.79 and a beta of 1.14. The company has a current ratio of 0.94, a quick ratio of 0.65 and a debt-to-equity ratio of 1.14.

Waters (NYSE:WAT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The medical instruments supplier reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.22 by $0.03. The business had revenue of $661.71 million for the quarter, compared to the consensus estimate of $655.50 million. Waters had a return on equity of 46.31% and a net margin of 21.56%. The company's revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 EPS. Research analysts expect that Waters will post 12.86 EPS for the current fiscal year.

Institutional Trading of Waters

Hedge funds and other institutional investors have recently bought and sold shares of the business. Olde Wealth Management LLC purchased a new position in Waters in the 1st quarter worth about $25,000. Aster Capital Management DIFC Ltd bought a new position in Waters in the 4th quarter worth about $28,000. Zions Bancorporation National Association UT bought a new position in Waters in the 1st quarter worth about $28,000. IFP Advisors Inc increased its position in shares of Waters by 118.9% during the first quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier's stock worth $30,000 after acquiring an additional 44 shares during the period. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Waters during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 94.01% of the company's stock.

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.

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