Waters (NYSE:WAT) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of Waters (NYSE:WAT) from a buy rating to a hold rating in a research report released on Tuesday.

Other analysts have also recently issued research reports about the stock. Sanford C. Bernstein upgraded shares of Waters from a “market perform” rating to an “outperform” rating and set a $430.00 target price for the company in a research note on Friday, January 10th. Barclays upgraded shares of Waters from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $360.00 to $415.00 in a research note on Monday, February 10th. Wells Fargo & Company raised their price target on shares of Waters from $415.00 to $420.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. TD Cowen raised their price target on shares of Waters from $363.00 to $410.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Bank of America lowered their price target on shares of Waters from $430.00 to $410.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Eleven research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Waters currently has an average rating of “Hold” and a consensus price target of $390.40.

Waters Stock Up 0.5 %

Shares of WAT stock opened at $381.31 on Tuesday. The firm has a fifty day moving average of $389.11 and a 200-day moving average of $366.82. The company has a quick ratio of 0.65, a current ratio of 0.94 and a debt-to-equity ratio of 1.14. Waters has a 12-month low of $279.24 and a 12-month high of $423.56. The company has a market capitalization of $22.64 billion, a price-to-earnings ratio of 35.60, a P/E/G ratio of 3.79 and a beta of 1.01.

Waters (NYSE:WAT) last announced its earnings results on Wednesday, February 12th. The medical instruments supplier reported $4.10 EPS for the quarter, topping the consensus estimate of $4.02 by $0.08. Waters had a net margin of 21.56% and a return on equity of 46.31%. As a group, equities research analysts predict that Waters will post 12.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Waters

Several hedge funds have recently added to or reduced their stakes in WAT. Blue Trust Inc. lifted its position in shares of Waters by 170.6% in the 3rd quarter. Blue Trust Inc. now owns 322 shares of the medical instruments supplier’s stock worth $116,000 after purchasing an additional 203 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Waters by 65.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,711 shares of the medical instruments supplier’s stock valued at $1,695,000 after purchasing an additional 1,867 shares in the last quarter. Private Advisor Group LLC increased its stake in Waters by 2.6% during the 3rd quarter. Private Advisor Group LLC now owns 5,690 shares of the medical instruments supplier’s stock valued at $2,048,000 after purchasing an additional 143 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Waters by 52,500.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,838 shares of the medical instruments supplier’s stock worth $2,461,000 after acquiring an additional 6,825 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Waters by 28.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,133 shares of the medical instruments supplier’s stock worth $1,834,000 after acquiring an additional 1,134 shares in the last quarter. 94.01% of the stock is currently owned by institutional investors and hedge funds.

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.