Cowen and Company Reaffirms “Hold” Rating for Waters Corporation (WAT)
Waters Corporation (NYSE:WAT)‘s stock had its “hold” rating restated by stock analysts at Cowen and Company in a note issued to investors on Friday. They currently have a $190.00 target price on the medical instruments supplier’s stock. Cowen and Company’s price objective suggests a potential upside of 3.60% from the company’s current price.
Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Waters Corporation from a “hold” rating to a “buy” rating and set a $202.00 price objective on the stock in a research report on Thursday. Cantor Fitzgerald restated a “buy” rating and issued a $190.00 price objective (up from $170.00) on shares of Waters Corporation in a research report on Tuesday, April 25th. Janney Montgomery Scott upgraded Waters Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the company from $185.00 to $200.00 in a research report on Monday, May 1st. Deutsche Bank AG restated a “buy” rating and issued a $183.00 price objective (up from $166.00) on shares of Waters Corporation in a research report on Saturday, April 29th. Finally, Barclays PLC set a $160.00 price objective on Waters Corporation and gave the company a “hold” rating in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Waters Corporation currently has a consensus rating of “Hold” and an average price target of $177.75.
Waters Corporation (NYSE WAT) opened at 183.39 on Friday. The firm has a market capitalization of $14.68 billion, a P/E ratio of 27.89 and a beta of 0.85. Waters Corporation has a 1-year low of $133.35 and a 1-year high of $187.65. The company has a 50-day moving average price of $181.06 and a 200 day moving average price of $158.95.
Waters Corporation (NYSE:WAT) last issued its quarterly earnings data on Tuesday, April 25th. The medical instruments supplier reported $1.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.13. Waters Corporation had a return on equity of 24.30% and a net margin of 24.34%. The business had revenue of $497.97 million for the quarter, compared to the consensus estimate of $489.37 million. During the same period in the prior year, the business earned $1.26 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. Analysts expect that Waters Corporation will post $7.33 earnings per share for the current fiscal year.
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In other Waters Corporation news, SVP Eugene G. Cassis sold 23,862 shares of the company’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $171.32, for a total transaction of $4,088,037.84. Following the completion of the sale, the senior vice president now directly owns 35,889 shares in the company, valued at $6,148,503.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Elizabeth B. Rae sold 16,000 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $177.21, for a total value of $2,835,360.00. Following the sale, the senior vice president now owns 14,129 shares of the company’s stock, valued at $2,503,800.09. The disclosure for this sale can be found here. Insiders have sold 165,940 shares of company stock valued at $29,321,461 over the last 90 days. 5.07% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. Watermark Asset Management Inc. purchased a new stake in shares of Waters Corporation during the first quarter valued at approximately $106,000. Creative Planning raised its stake in shares of Waters Corporation by 1.6% in the first quarter. Creative Planning now owns 744 shares of the medical instruments supplier’s stock valued at $116,000 after buying an additional 12 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Waters Corporation by 4.4% in the first quarter. Quadrant Capital Group LLC now owns 822 shares of the medical instruments supplier’s stock valued at $124,000 after buying an additional 35 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Waters Corporation during the first quarter valued at approximately $169,000. Finally, Atria Investments LLC purchased a new stake in shares of Waters Corporation during the second quarter valued at approximately $202,000. Institutional investors own 91.92% of the company’s stock.
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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