Waters (NYSE:WAT) Price Target Raised to $375.00

Waters (NYSE:WAT - Get Free Report) had its price target upped by investment analysts at Bank of America from $370.00 to $375.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the medical instruments supplier's stock. Bank of America's target price points to a potential upside of 5.86% from the stock's current price.

Several other analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Waters from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Sanford C. Bernstein set a $400.00 target price on shares of Waters and gave the stock an "outperform" rating in a research report on Wednesday, April 16th. UBS Group decreased their target price on Waters from $415.00 to $360.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. KeyCorp upgraded shares of Waters from a "sector weight" rating to an "overweight" rating and set a $460.00 price objective on the stock in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Waters from $380.00 to $390.00 and gave the company a "neutral" rating in a research note on Thursday, March 6th. 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $388.00.

Waters Trading Up 1.2%

Shares of Waters stock traded up $4.24 on Thursday, reaching $354.25. The company had a trading volume of 451,203 shares, compared to its average volume of 471,237. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.28 and a current ratio of 1.81. The firm has a market cap of $21.08 billion, a PE ratio of 32.14, a PEG ratio of 3.50 and a beta of 1.11. Waters has a 52-week low of $279.24 and a 52-week high of $423.56. The firm's 50 day moving average price is $345.79 and its two-hundred day moving average price is $365.68.

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

Institutional Investors Weigh In On Waters

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Olde Wealth Management LLC bought a new stake in shares of Waters in the 1st quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new stake in Waters in the 4th quarter worth approximately $28,000. Zions Bancorporation National Association UT purchased a new position in Waters in the 1st quarter worth approximately $28,000. IFP Advisors Inc boosted its stake in Waters by 118.9% in the first quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier's stock worth $30,000 after buying an additional 44 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in Waters by 129.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier's stock worth $35,000 after acquiring an additional 53 shares during the last quarter. 94.01% of the stock is owned by 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.

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