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

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

Several other equities research analysts have also recently issued reports on WAT. Sanford C. Bernstein set a $400.00 price objective on Waters and gave the stock an "outperform" rating in a report on Wednesday, April 16th. Wells Fargo & Company cut Waters from a "strong-buy" rating to a "hold" rating and dropped their price target for the stock from $420.00 to $330.00 in a research report on Tuesday, July 15th. Robert W. Baird decreased their price objective on Waters from $374.00 to $352.00 and set an "outperform" rating on the stock in a report on Wednesday, July 16th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Waters in a research note on Monday, July 14th. Finally, Scotiabank reiterated a "sector outperform" rating and issued a $465.00 target price on shares of Waters in a research report on Friday, July 11th. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $381.94.

Waters Stock Up 1.4%

Shares of WAT opened at $302.62 on Friday. The firm has a market cap of $18.01 billion, a P/E ratio of 27.46, a PEG ratio of 2.95 and a beta of 1.10. Waters has a 12 month low of $279.61 and a 12 month high of $423.56. The stock's 50 day moving average is $338.12 and its two-hundred day moving average is $358.16. The company has a current ratio of 1.81, a quick ratio of 1.28 and a debt-to-equity ratio of 0.69.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. increased its stake in Waters by 21.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,050 shares of the medical instruments supplier's stock worth $1,065,000 after acquiring an additional 548 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Waters by 4.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 17,407 shares of the medical instruments supplier's stock worth $6,076,000 after purchasing an additional 705 shares during the period. CWM LLC increased its position in shares of Waters by 27.3% during the 2nd quarter. CWM LLC now owns 2,585 shares of the medical instruments supplier's stock worth $902,000 after purchasing an additional 554 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE raised its holdings in Waters by 1.1% in the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 10,616 shares of the medical instruments supplier's stock valued at $3,705,000 after buying an additional 114 shares during the period. Finally, OFI Invest Asset Management lifted its position in Waters by 44.6% in the second quarter. OFI Invest Asset Management now owns 279 shares of the medical instruments supplier's stock valued at $97,000 after buying an additional 86 shares during the last quarter. 94.01% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.