Waters (NYSE:WAT) Hits New 52-Week Low - Here's Why

Waters Corporation (NYSE:WAT - Get Free Report) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $287.02 and last traded at $289.91, with a volume of 2595989 shares trading hands. The stock had previously closed at $304.18.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Scotiabank reissued a "sector outperform" rating and issued a $465.00 price objective on shares of Waters in a research note on Friday, July 11th. Robert W. Baird lowered their target price on shares of Waters from $374.00 to $352.00 and set an "outperform" rating on the stock in a report on Wednesday. Wall Street Zen upgraded shares of Waters from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Wells Fargo & Company lowered shares of Waters from a "strong-buy" rating to a "hold" rating and decreased their price objective for the company from $420.00 to $330.00 in a research note on Tuesday. Finally, Baird R W upgraded shares of Waters from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 26th. Ten analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $381.94.

Waters Trading Down 3.2%

The firm has a market capitalization of $17.11 billion, a PE ratio of 26.11, a PEG ratio of 2.86 and a beta of 1.10. The company's 50-day moving average price is $345.58 and its 200-day moving average price is $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 released its earnings results 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. Waters had a return on equity of 41.70% and a net margin of 22.02%. The company had revenue of $661.71 million for the quarter, compared to analysts' expectations of $655.50 million. During the same quarter in the previous year, the firm posted $2.21 EPS. The firm's quarterly revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts expect that Waters Corporation will post 12.86 earnings per share for the current year.

Institutional Investors Weigh In On Waters

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Waters by 15.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,587 shares of the medical instruments supplier's stock valued at $1,331,000 after purchasing an additional 482 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Waters by 85.7% during the first quarter. QRG Capital Management Inc. now owns 1,642 shares of the medical instruments supplier's stock valued at $605,000 after purchasing an additional 758 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Waters by 4.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,986 shares of the medical instruments supplier's stock valued at $1,101,000 after purchasing an additional 130 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Waters by 4.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,813 shares of the medical instruments supplier's stock valued at $1,774,000 after acquiring an additional 189 shares in the last quarter. Finally, CX Institutional acquired a new position in Waters in the 1st quarter valued at approximately $75,000. Institutional investors own 94.01% of the company's stock.

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.