Waters (NYSE:WAT) Rating Lowered to Hold at Wall Street Zen

Waters (NYSE:WAT - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

A number of other analysts have also recently weighed in on WAT. Robert W. Baird boosted their price objective on shares of Waters from $355.00 to $374.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Bank of America lowered their target price on shares of Waters from $430.00 to $410.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company increased their price objective on shares of Waters from $415.00 to $420.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Sanford C. Bernstein set a $400.00 price target on shares of Waters and gave the stock an "outperform" rating in a research report on Wednesday, April 16th. Finally, UBS Group reduced their price objective on shares of Waters from $415.00 to $360.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Waters currently has a consensus rating of "Moderate Buy" and a consensus target price of $390.19.

Waters Stock Performance

NYSE:WAT traded up $4.92 during mid-day trading on Friday, hitting $351.25. The stock had a trading volume of 303,897 shares, compared to its average volume of 472,136. The company has a current ratio of 0.94, a quick ratio of 0.65 and a debt-to-equity ratio of 1.14. The company has a 50 day simple moving average of $341.26 and a 200-day simple moving average of $368.90. The stock has a market capitalization of $20.90 billion, a price-to-earnings ratio of 32.80, a P/E/G ratio of 3.79 and a beta of 1.11. Waters has a 52 week low of $279.24 and a 52 week high of $423.56.

Waters (NYSE:WAT - Get Free Report) last released its 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 21.56% and a return on equity of 46.31%. The firm had revenue of $661.71 million for the quarter, compared to analysts' expectations of $655.50 million. During the same quarter last year, the company earned $2.21 EPS. Waters's quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts expect that Waters will post 12.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Waters

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Waters by 2.4% in the first quarter. Vanguard Group Inc. now owns 7,272,252 shares of the medical instruments supplier's stock valued at $2,680,334,000 after acquiring an additional 173,584 shares in the last quarter. Wealthfront Advisers LLC raised its position in Waters by 106,144.4% in the 4th quarter. Wealthfront Advisers LLC now owns 3,087,461 shares of the medical instruments supplier's stock worth $1,145,386,000 after buying an additional 3,084,555 shares during the last quarter. Alliancebernstein L.P. raised its position in Waters by 15.7% in the 1st quarter. Alliancebernstein L.P. now owns 3,070,671 shares of the medical instruments supplier's stock worth $1,131,757,000 after buying an additional 416,669 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Waters by 6.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,066,482 shares of the medical instruments supplier's stock valued at $761,643,000 after purchasing an additional 123,215 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Waters by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 1,451,445 shares of the medical instruments supplier's stock valued at $537,053,000 after purchasing an additional 34,762 shares during the period. 94.01% of the stock is 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.