Waters Corporation (WAT) Rating Reiterated by Cowen and Company
Waters Corporation (NYSE:WAT)‘s stock had its “hold” rating reaffirmed by stock analysts at Cowen and Company in a research note issued on Friday. They presently have a $190.00 target price on the medical instruments supplier’s stock. Cowen and Company’s price objective would suggest a potential downside of 4.00% from the stock’s current price.
Several other research firms have also issued reports on WAT. Bank of America Corporation reaffirmed a “neutral” rating and issued a $192.00 price target (up previously from $180.00) on shares of Waters Corporation in a research report on Friday, July 21st. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $205.00 price target (up previously from $195.00) on shares of Waters Corporation in a research report on Thursday, July 13th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $170.00 price target on shares of Waters Corporation in a research report on Friday, July 14th. Barclays PLC lifted their price target on Waters Corporation from $188.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 25th. Finally, Deutsche Bank AG lifted their price target on Waters Corporation from $199.00 to $200.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $190.71.
Shares of Waters Corporation (NYSE WAT) traded down $0.13 during trading hours on Friday, reaching $197.92. The company’s stock had a trading volume of 314,823 shares, compared to its average volume of 570,487. The firm has a market capitalization of $15,797.88, a PE ratio of 27.49 and a beta of 0.83.
Waters Corporation (NYSE:WAT) last posted its quarterly earnings results on Tuesday, October 24th. The medical instruments supplier reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.03. The firm had revenue of $565.58 million during the quarter, compared to analyst estimates of $555.25 million. Waters Corporation had a return on equity of 23.61% and a net margin of 24.34%. Waters Corporation’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.57 EPS. research analysts expect that Waters Corporation will post 7.42 earnings per share for the current fiscal year.
In other news, Director Christopher A. Kuebler sold 3,500 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $179.67, for a total transaction of $628,845.00. Following the completion of the sale, the director now owns 17,849 shares of the company’s stock, valued at approximately $3,206,929.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rohit Khanna sold 18,400 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 22,477 shares of the company’s stock, valued at approximately $4,175,777.06. The disclosure for this sale can be found here. Insiders have sold a total of 48,813 shares of company stock valued at $9,374,087 in the last ninety days. Insiders own 5.07% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. increased its position in shares of Waters Corporation by 0.4% during the 2nd 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 during the last quarter. ETF Managers Group LLC purchased a new stake in shares of Waters Corporation during the 2nd quarter valued at about $106,000. Intellectus Partners LLC increased its position in shares of Waters Corporation by 4.9% during the 2nd quarter. Intellectus Partners LLC now owns 667 shares of the medical instruments supplier’s stock valued at $123,000 after purchasing an additional 31 shares during the last quarter. First Manhattan Co. purchased a new stake in shares of Waters Corporation during the 2nd quarter valued at about $130,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Waters Corporation during the 2nd quarter valued at about $160,000. 91.08% of the stock is owned by hedge funds and other institutional investors.
Waters Corporation Company Profile
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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