Brokerages Set Waters Co. (NYSE:WAT) Price Target at $390.19

Shares of Waters Co. (NYSE:WAT) have earned an average recommendation of “Moderate Buy” from the eighteen analysts that are covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $390.19.

Several brokerages recently weighed in on WAT. JPMorgan Chase & Co. increased their target price on Waters from $380.00 to $390.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. Robert W. Baird raised their price objective on Waters from $355.00 to $374.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Sanford C. Bernstein set a $400.00 price objective on Waters and gave the stock an “outperform” rating in a research report on Wednesday, April 16th. Wells Fargo & Company raised their price objective on Waters from $415.00 to $420.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, StockNews.com downgraded Waters from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

Institutional Investors Weigh In On Waters

Several hedge funds and other institutional investors have recently made changes to their positions in WAT. Olde Wealth Management LLC acquired a new stake in shares of Waters in the 1st quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Waters in the 4th quarter valued at $28,000. Zions Bancorporation National Association UT acquired a new stake in shares of Waters in the 1st quarter valued at $28,000. IFP Advisors Inc increased its stake in shares of Waters by 118.9% in the 1st quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier’s stock valued at $30,000 after buying an additional 44 shares during the period. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Waters during the fourth quarter worth $34,000. 94.01% of the stock is owned by institutional investors and hedge funds.

Waters Price Performance

Shares of NYSE:WAT opened at $358.40 on Friday. The business has a 50 day moving average price of $346.42 and a 200 day moving average price of $371.33. Waters has a twelve month low of $279.24 and a twelve month high of $423.56. The company has a market cap of $21.33 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 3.79 and a beta of 1.14. 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 (NYSE:WAT) last announced its earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.03. Waters had a return on equity of 46.31% and a net margin of 21.56%. The firm had revenue of $661.71 million during the quarter, compared to the consensus estimate of $655.50 million. During the same quarter in the prior year, the company earned $2.21 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. Research analysts predict that Waters will post 12.86 earnings per share for the current year.

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.