Waters (NYSE:WAT) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Waters (NYSE:WAT - Free Report) from a hold rating to a buy rating in a report issued on Saturday morning.

Other analysts also recently issued reports about the stock. Barclays dropped their price objective on shares of Waters from $400.00 to $350.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. KeyCorp upgraded Waters from a "sector weight" rating to an "overweight" rating and set a $460.00 price objective for the company in a report on Monday, March 31st. Baird R W raised Waters from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 26th. Bank of America boosted their target price on Waters from $370.00 to $375.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. Finally, UBS Group reduced their price target on shares of Waters from $415.00 to $360.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $388.00.

Waters Price Performance

NYSE:WAT traded down $3.87 during trading hours on Friday, hitting $346.35. 444,744 shares of the company's stock traded hands, compared to its average volume of 472,144. Waters has a 52 week low of $279.24 and a 52 week high of $423.56. The business's fifty day simple moving average is $349.18 and its two-hundred day simple moving average is $364.13. 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 firm has a market cap of $20.61 billion, a P/E ratio of 31.43, a P/E/G ratio of 3.46 and a beta of 1.10.

Waters (NYSE:WAT - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $655.50 million. Waters had a return on equity of 41.70% and a net margin of 22.02%. The company's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $2.21 EPS. On average, research analysts anticipate that Waters will post 12.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Waters

A number of hedge funds have recently modified their holdings of WAT. Lederer & Associates Investment Counsel CA increased its holdings in Waters by 1.0% during the 1st quarter. Lederer & Associates Investment Counsel CA now owns 3,155 shares of the medical instruments supplier's stock valued at $1,163,000 after purchasing an additional 30 shares during the period. Integrated Wealth Concepts LLC grew its position in shares of Waters by 2.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,048 shares of the medical instruments supplier's stock worth $386,000 after buying an additional 30 shares during the last quarter. FourThought Financial Partners LLC increased its stake in shares of Waters by 5.1% during the first quarter. FourThought Financial Partners LLC now owns 658 shares of the medical instruments supplier's stock valued at $243,000 after buying an additional 32 shares during the period. Larson Financial Group LLC raised its holdings in shares of Waters by 6.8% during the fourth quarter. Larson Financial Group LLC now owns 537 shares of the medical instruments supplier's stock valued at $199,000 after acquiring an additional 34 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in Waters by 4.8% in the fourth quarter. Benjamin Edwards Inc. now owns 744 shares of the medical instruments supplier's stock worth $276,000 after acquiring an additional 34 shares during the period. Hedge funds and other 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.