Waters (NYSE:WAT) Stock Price Expected to Rise, Bank of America Analyst Says

Waters (NYSE:WAT) had its price target boosted by Bank of America from $370.00 to $375.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the medical instruments supplier’s stock.

WAT has been the topic of several other research reports. UBS Group dropped their target price on shares of Waters from $415.00 to $360.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. KeyCorp raised shares of Waters from a “sector weight” rating to an “overweight” rating and set a $460.00 price target on the stock in a research note on Monday, March 31st. Sanford C. Bernstein set a $400.00 price objective on shares of Waters and gave the company an “outperform” rating in a report on Wednesday, April 16th. JPMorgan Chase & Co. boosted their price target on shares of Waters from $380.00 to $390.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Finally, Barclays lowered their target price on shares of Waters from $400.00 to $350.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $388.00.

Waters Trading Up 1.6%

NYSE WAT opened at $355.52 on Thursday. The company has a current ratio of 1.81, a quick ratio of 1.28 and a debt-to-equity ratio of 0.69. The company has a fifty day simple moving average of $346.49 and a two-hundred day simple moving average of $365.42. Waters has a 12-month low of $279.24 and a 12-month high of $423.56. The stock has a market cap of $21.16 billion, a P/E ratio of 32.26, a P/E/G ratio of 3.53 and a beta of 1.11.

Waters (NYSE:WAT) last released its quarterly earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 EPS for the quarter, beating the consensus estimate of $2.22 by $0.03. The company had revenue of $661.71 million for the quarter, compared to analyst estimates of $655.50 million. Waters had a net margin of 22.02% and a return on equity of 41.70%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business earned $2.21 earnings per share. On average, analysts forecast that Waters will post 12.86 earnings per share for the current year.

Hedge Funds Weigh In On Waters

A number of institutional investors and hedge funds have recently made changes to their positions in WAT. Olde Wealth Management LLC acquired a new position in shares of Waters during the 1st quarter worth $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Waters during the 4th quarter worth about $28,000. Zions Bancorporation National Association UT acquired a new stake in shares of Waters during the 1st quarter worth about $28,000. IFP Advisors Inc boosted its stake in shares of Waters by 118.9% during the 1st quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 44 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of Waters by 129.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier’s stock worth $35,000 after purchasing an additional 53 shares during the last quarter. 94.01% of the stock is owned by institutional investors and hedge funds.

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.