Waters (NYSE:WAT) Price Target Raised to $385.00

Waters (NYSE:WAT) had its price target upped by Wells Fargo & Company from $315.00 to $385.00 in a research note released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the medical instruments supplier’s stock.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group set a $385.00 price target on Waters and gave the stock a “buy” rating in a research report on Monday, August 4th. Weiss Ratings restated a “hold (c)” rating on shares of Waters in a report on Wednesday, October 8th. Rothschild & Co Redburn initiated coverage on Waters in a research report on Wednesday, October 8th. They set a “buy” rating and a $390.00 target price for the company. Scotiabank reissued a “sector outperform” rating and issued a $465.00 price target on shares of Waters in a research report on Friday, July 11th. Finally, UBS Group restated a “neutral” rating on shares of Waters in a research note on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $381.57.

Waters Stock Up 0.2%

NYSE:WAT traded up $0.81 during mid-day trading on Wednesday, reaching $371.97. The stock had a trading volume of 407,883 shares, compared to its average volume of 635,083. The stock has a market cap of $22.15 billion, a P/E ratio of 33.54, a PEG ratio of 3.19 and a beta of 1.11. The business’s 50 day moving average is $323.54 and its 200 day moving average is $326.12. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.75 and a quick ratio of 1.22. Waters has a fifty-two week low of $275.05 and a fifty-two week high of $423.56.

Waters (NYSE:WAT) last posted its earnings results on Thursday, May 19th. The medical instruments supplier reported $2.29 earnings per share (EPS) for the quarter. Waters had a net margin of 21.71% and a return on equity of 38.60%. The firm had revenue of $608.55 million during the quarter. As a group, sell-side analysts predict that Waters will post 12.86 earnings per share for the current year.

Institutional Investors Weigh In On Waters

Hedge funds have recently modified their holdings of the business. Root Financial Partners LLC bought a new position in Waters during the third quarter worth $26,000. Zions Bancorporation National Association UT acquired a new stake in Waters in the 1st quarter worth $28,000. IFP Advisors Inc increased its holdings 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 period. Hantz Financial Services Inc. raised its position in shares of Waters by 115.4% during the third quarter. Hantz Financial Services Inc. now owns 112 shares of the medical instruments supplier’s stock valued at $34,000 after buying an additional 60 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Waters in the first quarter valued at about $41,000. 94.01% of the stock is owned by institutional investors.

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.