Waters (NYSE:WAT) Reaches New 52-Week Low - Should You Sell?

Key Points

• Waters Corporation's stock reached a new 52-week low at $279.19, down 1.9% from a previous close of $290.31.
• Analyst ratings are mixed, with the average rating at "Hold" and a target price of $382.40, while some firms have upgraded their ratings.
• Institutional investors have significantly increased their stakes in Waters, with 94.01% of the company's stock now owned by these investors.

Waters Corporation (NYSE:WAT - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $279.19 and last traded at $283.58, with a volume of 224818 shares changing hands. The stock had previously closed at $290.31.

Analysts Set New Price Targets

A number of analysts have commented on WAT shares. 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. Deutsche Bank Aktiengesellschaft set a $315.00 target price on Waters and gave the stock a "hold" rating in a report on Tuesday. Wells Fargo & Company cut their price target on Waters from $330.00 to $315.00 and set an "equal weight" rating for the company in a report on Tuesday. Barclays reduced their price target on Waters from $400.00 to $350.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Finally, Robert W. Baird lowered their price objective on Waters from $374.00 to $352.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Waters currently has an average rating of "Hold" and an average target price of $378.73.

Waters Price Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.75 and a quick ratio of 1.28. The stock has a fifty day moving average of $328.29 and a 200 day moving average of $352.59. The stock has a market cap of $16.55 billion, a price-to-earnings ratio of 25.02, a P/E/G ratio of 2.75 and a beta of 1.04.

Waters (NYSE:WAT - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The medical instruments supplier reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.02. The business had revenue of $771.33 million during the quarter, compared to analysts' expectations of $745.96 million. Waters had a return on equity of 38.60% and a net margin of 21.71%. The company's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.63 EPS. On average, analysts expect that Waters Corporation will post 12.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Campbell & CO Investment Adviser LLC acquired a new position in Waters in the 2nd quarter worth about $3,477,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Waters by 6.1% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 111,572 shares of the medical instruments supplier's stock valued at $38,943,000 after buying an additional 6,427 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Waters during the 2nd quarter worth approximately $254,000. Penserra Capital Management LLC lifted its position in shares of Waters by 13.1% during the 2nd quarter. Penserra Capital Management LLC now owns 327 shares of the medical instruments supplier's stock valued at $114,000 after buying an additional 38 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. grew its stake in Waters by 6.9% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 20,509 shares of the medical instruments supplier's stock valued at $7,170,000 after acquiring an additional 1,331 shares during the period. Institutional investors and hedge funds own 94.01% of the company's stock.

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.