Waters (NYSE:WAT) Shares Gap Down - Should You Sell?

Shares of Waters Corporation (NYSE:WAT - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $352.91, but opened at $317.53. Waters shares last traded at $306.28, with a volume of 785,650 shares changing hands.

Wall Street Analysts Forecast Growth

WAT has been the subject of several research reports. Sanford C. Bernstein set a $400.00 price objective on Waters and gave the company an "outperform" rating in a report on Wednesday, April 16th. KeyCorp raised Waters from a "sector weight" rating to an "overweight" rating and set a $460.00 target price on the stock in a research note on Monday, March 31st. UBS Group dropped their price target on Waters from $415.00 to $360.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Bank of America boosted their price objective on shares of Waters from $370.00 to $375.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. Finally, Barclays cut their price objective on shares of Waters from $400.00 to $350.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $388.94.

Waters Stock Down 13.9%

The company has a quick ratio of 1.28, a current ratio of 1.81 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $18.09 billion, a P/E ratio of 27.58, a PEG ratio of 3.49 and a beta of 1.10. The firm has a 50-day moving average price of $349.62 and a two-hundred day moving average price of $363.50.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. grew its stake in shares of Waters by 15.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,587 shares of the medical instruments supplier's stock worth $1,331,000 after acquiring an additional 482 shares during the period. QRG Capital Management Inc. boosted its position in shares of 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 in the last quarter. Cambridge Investment Research Advisors Inc. raised 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 buying an additional 130 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Waters by 4.1% during the first quarter. Janney Montgomery Scott LLC now owns 4,813 shares of the medical instruments supplier's stock valued at $1,774,000 after buying an additional 189 shares during the last quarter. Finally, CX Institutional purchased a new position in shares of Waters in the first quarter worth $75,000. Institutional investors 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.