Waters Corporation (WAT) Given Average Rating of “Hold” by Brokerages
Waters Corporation (NYSE:WAT) has been given a consensus recommendation of “Hold” by the fifteen brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $185.50.
Several equities research analysts have recently commented on the company. Jefferies Group LLC reissued a “hold” rating and issued a $175.00 target price on shares of Waters Corporation in a research note on Thursday, August 31st. Zacks Investment Research lowered Waters Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub lowered Waters Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Bank of America Corporation reiterated a “neutral” rating and issued a $192.00 price target (up previously from $180.00) on shares of Waters Corporation in a report on Friday, July 21st. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $183.00 price target (up previously from $174.00) on shares of Waters Corporation in a report on Wednesday, July 26th.
In related news, Director Christopher A. Kuebler sold 3,500 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $179.67, for a total value of $628,845.00. Following the sale, the director now directly owns 17,849 shares in the company, valued at approximately $3,206,929.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rohit Khanna sold 18,400 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $185.78, for a total transaction of $3,418,352.00. Following the completion of the sale, the senior vice president now owns 22,477 shares in the company, valued at $4,175,777.06. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in WAT. Oppenheimer Asset Management Inc. increased its stake in Waters Corporation by 0.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 573 shares of the medical instruments supplier’s stock valued at $105,000 after purchasing an additional 2 shares in the last quarter. ETF Managers Group LLC acquired a new stake in Waters Corporation in the second quarter worth $106,000. Intellectus Partners LLC raised its holdings in Waters Corporation by 4.9% in the second quarter. Intellectus Partners LLC now owns 667 shares of the medical instruments supplier’s stock worth $123,000 after purchasing an additional 31 shares during the period. Watermark Asset Management Inc. acquired a new stake in Waters Corporation in the first quarter worth $106,000. Finally, First Manhattan Co. acquired a new stake in Waters Corporation in the second quarter worth $130,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.
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Waters Corporation (WAT) opened at 182.83 on Wednesday. The stock’s 50 day moving average is $182.82 and its 200 day moving average is $176.03. Waters Corporation has a 52-week low of $133.35 and a 52-week high of $190.39. The company has a market cap of $14.59 billion, a price-to-earnings ratio of 27.56 and a beta of 0.82.
Waters Corporation (NYSE:WAT) last posted its quarterly earnings data on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.05. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. The firm had revenue of $558.30 million during the quarter, compared to analysts’ expectations of $553.22 million. During the same quarter in the previous year, the company posted $1.58 EPS. Waters Corporation’s revenue was up 4.0% on a year-over-year basis. Equities research analysts forecast that Waters Corporation will post $7.39 earnings per share for the current year.
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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