Waters (NYSE:WAT) Price Target Cut to $352.00 by Analysts at Robert W. Baird

Waters (NYSE:WAT - Get Free Report) had its target price cut by investment analysts at Robert W. Baird from $374.00 to $352.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the medical instruments supplier's stock. Robert W. Baird's price objective would indicate a potential upside of 22.66% from the company's current price.

WAT has been the topic of several other research reports. Sanford C. Bernstein set a $400.00 target price on Waters and gave the company an "outperform" rating in a research report on Wednesday, April 16th. Baird R W raised Waters from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 26th. Wall Street Zen raised Waters from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Jefferies Financial Group reissued a "buy" rating on shares of Waters in a research report on Monday. Finally, UBS Group reissued a "neutral" rating on shares of Waters in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $381.94.

Waters Price Performance

Shares of WAT traded down $9.94 during mid-day trading on Wednesday, hitting $286.98. 273,386 shares of the stock were exchanged, compared to its average volume of 499,025. The company has a market cap of $17.08 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 2.86 and a beta of 1.10. Waters has a 52-week low of $284.65 and a 52-week high of $423.56. The firm has a 50-day moving average of $345.58 and a two-hundred day moving average of $361.49. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.28 and a current ratio of 1.81.

Waters (NYSE:WAT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The medical instruments supplier reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.03. The business had revenue of $661.71 million for the quarter, compared to analysts' expectations of $655.50 million. Waters had a return on equity of 41.70% and a net margin of 22.02%. The company's revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 EPS. On average, equities analysts predict that Waters will post 12.86 earnings per share for the current year.

Institutional Investors Weigh In On Waters

Hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Waters in the fourth quarter valued at about $284,415,000. GAMMA Investing LLC grew its holdings in Waters by 50,228.3% during the first quarter. GAMMA Investing LLC now owns 662,320 shares of the medical instruments supplier's stock worth $244,111,000 after acquiring an additional 661,004 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Waters by 676.8% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 705,733 shares of the medical instruments supplier's stock worth $260,112,000 after acquiring an additional 614,877 shares during the period. Alliancebernstein L.P. grew its holdings in Waters by 15.7% during the first quarter. Alliancebernstein L.P. now owns 3,070,671 shares of the medical instruments supplier's stock worth $1,131,757,000 after acquiring an additional 416,669 shares during the period. Finally, Millennium Management LLC grew its holdings in Waters by 3,349.7% during the fourth quarter. Millennium Management LLC now owns 304,404 shares of the medical instruments supplier's stock worth $112,928,000 after acquiring an additional 295,580 shares during the period. 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.