Waters (NYSE:WAT) Shares Gap Down to $304.18

Shares of Waters Co. (NYSE:WAT) gapped down prior to trading on Thursday . The stock had previously closed at $304.18, but opened at $296.30. Waters shares last traded at $292.62, with a volume of 102,246 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Stifel Nicolaus raised their target price on Waters from $290.00 to $330.00 and gave the company a “hold” rating in a report on Wednesday, February 7th. Barclays lifted their target price on Waters from $275.00 to $300.00 and gave the stock an “underweight” rating in a report on Monday, February 12th. Finally, Evercore ISI lifted their target price on Waters from $320.00 to $340.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Waters currently has an average rating of “Hold” and an average price target of $298.67.

Waters Stock Performance

The company has a 50-day moving average price of $335.88 and a two-hundred day moving average price of $305.56. The company has a current ratio of 2.22, a quick ratio of 1.57 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $17.55 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 5.85 and a beta of 0.92.

Waters (NYSE:WAT) last posted its quarterly earnings data on Tuesday, February 6th. The medical instruments supplier reported $3.62 earnings per share for the quarter, topping the consensus estimate of $3.56 by $0.06. Waters had a return on equity of 81.30% and a net margin of 21.72%. The firm had revenue of $819.50 million during the quarter, compared to analyst estimates of $815.50 million. During the same period last year, the company posted $3.84 EPS. The business’s quarterly revenue was down 4.5% on a year-over-year basis. On average, equities analysts forecast that Waters Co. will post 11.89 earnings per share for the current year.

Insider Transactions at Waters

In other news, Director Linda Baddour sold 500 shares of Waters stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $355.54, for a total value of $177,770.00. Following the completion of the transaction, the director now directly owns 2,250 shares of the company’s stock, valued at approximately $799,965. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Institutional Trading of Waters

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. increased its position in Waters by 11.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,685 shares of the medical instruments supplier’s stock valued at $1,268,000 after buying an additional 379 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in Waters by 2,134.3% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 5,921 shares of the medical instruments supplier’s stock valued at $2,038,000 after buying an additional 5,656 shares in the last quarter. Foguth Wealth Management LLC. bought a new stake in Waters in the 1st quarter valued at about $2,773,000. Indiana Trust & Investment Management CO bought a new stake in Waters in the 1st quarter valued at about $25,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in Waters by 4.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,621 shares of the medical instruments supplier’s stock valued at $1,246,000 after buying an additional 146 shares in the last quarter. 94.01% of the stock is owned by institutional investors.

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.