Waters Corporation (WAT) Receives Consensus Rating of “Hold” from Analysts
Shares of Waters Corporation (NYSE:WAT) have been assigned a consensus rating of “Hold” from the fourteen analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $180.92.
Several research firms have recently commented on WAT. Wells Fargo & Company restated an “outperform” rating and set a $205.00 price target (up from $195.00) on shares of Waters Corporation in a research report on Thursday, July 13th. Zacks Investment Research upgraded Waters Corporation from a “hold” rating to a “buy” rating and set a $202.00 price objective on the stock in a research note on Thursday, July 13th. Bank of America Corporation reiterated a “neutral” rating and issued a $192.00 price objective (up from $180.00) on shares of Waters Corporation in a research note on Friday. Cowen and Company reiterated a “hold” rating and issued a $190.00 price objective on shares of Waters Corporation in a research note on Friday, July 14th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $170.00 price objective on shares of Waters Corporation in a research note on Friday, July 14th.
In other Waters Corporation news, VP Michael F. Silveira sold 620 shares of Waters Corporation stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $172.27, for a total value of $106,807.40. Following the sale, the vice president now owns 1,688 shares of the company’s stock, valued at approximately $290,791.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rohit Khanna sold 15,000 shares of Waters Corporation stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $171.70, for a total value of $2,575,500.00. Following the completion of the sale, the senior vice president now directly owns 19,077 shares in the company, valued at approximately $3,275,520.90. The disclosure for this sale can be found here. Insiders sold a total of 165,940 shares of company stock worth $29,321,461 in the last ninety days. 5.07% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Watermark Asset Management Inc. purchased a new stake in shares of Waters Corporation during the first quarter valued at approximately $106,000. Creative Planning raised its stake in shares of Waters Corporation by 1.6% in the first quarter. Creative Planning now owns 744 shares of the medical instruments supplier’s stock valued at $116,000 after buying an additional 12 shares during the period. Quadrant Capital Group LLC increased its position in shares of Waters Corporation by 4.4% in the first quarter. Quadrant Capital Group LLC now owns 822 shares of the medical instruments supplier’s stock valued at $124,000 after buying an additional 35 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Waters Corporation during the first quarter valued at about $169,000. Finally, Van ECK Associates Corp increased its position in shares of Waters Corporation by 7.4% in the first quarter. Van ECK Associates Corp now owns 1,129 shares of the medical instruments supplier’s stock valued at $176,000 after buying an additional 78 shares in the last quarter. 91.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of Waters Corporation (WAT) traded up 0.60% during midday trading on Friday, reaching $185.21. The company’s stock had a trading volume of 133,851 shares. The stock’s 50-day moving average is $183.86 and its 200-day moving average is $163.66. Waters Corporation has a one year low of $133.35 and a one year high of $187.65. The company has a market capitalization of $14.82 billion, a P/E ratio of 28.16 and a beta of 0.85.
Waters Corporation (NYSE:WAT) last released its quarterly earnings results on Tuesday, April 25th. The medical instruments supplier reported $1.46 EPS for the quarter, topping the consensus estimate of $1.33 by $0.13. Waters Corporation had a return on equity of 24.30% and a net margin of 24.34%. The business had revenue of $497.97 million during the quarter, compared to analyst estimates of $489.37 million. During the same period last year, the business posted $1.26 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. On average, equities analysts expect that Waters Corporation will post $7.33 earnings per share for the current fiscal year.
Waters Corporation announced that its Board of Directors has authorized a share buyback plan on Thursday, May 11th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the medical instruments supplier to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
About Waters Corporation
Waters Corporation is an analytical instrument manufacturer. The Company operates through two segments: Waters and TA. It designs, manufactures, sells and services high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans.
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