Waters (NYSE:WAT) was downgraded by investment analysts at Cleveland Research from a “neutral” rating to an “underperform” rating in a research report issued on Thursday, The Fly reports.
WAT has been the subject of a number of other research reports. Zacks Investment Research downgraded Waters from a “buy” rating to a “hold” rating in a research note on Monday, March 26th. Morgan Stanley reduced their price objective on Waters from $218.00 to $200.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 25th. Cowen restated a “hold” rating and issued a $215.00 price objective on shares of Waters in a research note on Wednesday, April 25th. Barclays reduced their price objective on Waters from $208.00 to $200.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 25th. Finally, ValuEngine downgraded Waters from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Waters presently has a consensus rating of “Hold” and a consensus price target of $207.31.
Waters traded down $10.97, hitting $198.78, during trading on Thursday, Marketbeat Ratings reports. 69,015 shares of the company were exchanged, compared to its average volume of 543,853. Waters has a 52 week low of $171.32 and a 52 week high of $220.20. The company has a market capitalization of $16.19 billion, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 2.41 and a beta of 0.94. The company has a current ratio of 6.44, a quick ratio of 5.87 and a debt-to-equity ratio of 0.59.
Waters (NYSE:WAT) last announced its quarterly earnings data on Tuesday, April 24th. The medical instruments supplier reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.04. The firm had revenue of $530.70 million during the quarter, compared to the consensus estimate of $534.17 million. Waters had a return on equity of 25.80% and a net margin of 1.14%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 EPS. analysts predict that Waters will post 8.21 EPS for the current year.
Waters declared that its board has authorized a stock repurchase program on Tuesday, April 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the medical instruments supplier to reacquire up to 18.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In other news, Director Joann A. Reed sold 2,090 shares of the stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $195.77, for a total transaction of $409,159.30. Following the completion of the transaction, the director now owns 17,932 shares in the company, valued at approximately $3,510,547.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael C. Harrington sold 15,000 shares of the stock in a transaction on Friday, June 1st. The stock was sold at an average price of $194.64, for a total value of $2,919,600.00. Following the transaction, the senior vice president now owns 17,037 shares of the company’s stock, valued at approximately $3,316,081.68. The disclosure for this sale can be found here. Insiders have sold a total of 36,689 shares of company stock valued at $7,130,365 in the last quarter. 0.98% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Sensato Investors LLC purchased a new stake in Waters during the 4th quarter worth about $16,846,000. Bailard Inc. lifted its holdings in Waters by 27.3% during the 4th quarter. Bailard Inc. now owns 3,983 shares of the medical instruments supplier’s stock worth $769,000 after purchasing an additional 853 shares in the last quarter. AMP Capital Investors Ltd lifted its holdings in Waters by 1.6% during the 4th quarter. AMP Capital Investors Ltd now owns 32,494 shares of the medical instruments supplier’s stock worth $6,278,000 after purchasing an additional 500 shares in the last quarter. MANA Advisors LLC purchased a new stake in Waters during the 4th quarter worth about $493,000. Finally, California Public Employees Retirement System lifted its holdings in Waters by 2.7% during the 4th quarter. California Public Employees Retirement System now owns 213,631 shares of the medical instruments supplier’s stock worth $41,271,000 after purchasing an additional 5,663 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.
Waters Company Profile
Waters Corporation, a specialty measurement company, provides analytical workflow solutions in the United States, Europe, Asia, and internationally. It designs, manufactures, sells, and services high and ultra performance liquid chromatography technology, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.
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