Bank of America Corporation Increases Waters Corporation (WAT) Price Target to $202.00
Waters Corporation (NYSE:WAT) had its target price raised by Bank of America Corporation from $192.00 to $202.00 in a research report issued to clients and investors on Friday. The brokerage currently has a “neutral” rating on the medical instruments supplier’s stock. Bank of America Corporation’s price target would indicate a potential upside of 4.55% from the stock’s current price.
Several other analysts have also recently weighed in on the company. 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 report on Wednesday, October 25th. Morgan Stanley reissued an “underweight” rating and set a $183.00 price target (up from $174.00) on shares of Waters Corporation in a report on Wednesday, July 26th. Jefferies Group LLC restated a “hold” rating and set a $170.00 price objective on shares of Waters Corporation in a research note on Friday, July 14th. Zacks Investment Research upgraded Waters Corporation from a “hold” rating to a “buy” rating and set a $211.00 price objective on the stock in a research note on Monday, October 23rd. Finally, Barclays PLC raised their price objective on Waters Corporation from $188.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $193.62.
Shares of Waters Corporation (NYSE WAT) opened at $193.21 on Friday. The stock has a market capitalization of $15,506.55, a P/E ratio of 27.08, a PEG ratio of 2.83 and a beta of 0.83. The company has a debt-to-equity ratio of 0.66, a current ratio of 6.16 and a quick ratio of 1.90. Waters Corporation has a 52-week low of $133.35 and a 52-week high of $199.78.
Waters Corporation (NYSE:WAT) last released its quarterly earnings results on Tuesday, October 24th. The medical instruments supplier reported $1.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.03. The business had revenue of $565.58 million during the quarter, compared to analysts’ expectations of $555.25 million. Waters Corporation had a return on equity of 23.61% and a net margin of 24.34%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $1.57 EPS. sell-side analysts anticipate that Waters Corporation will post 7.42 EPS for the current year.
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In related news, SVP Rohit Khanna sold 26,913 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $197.93, for a total transaction of $5,326,890.09. Following the sale, the senior vice president now owns 13,677 shares of the company’s stock, valued at approximately $2,707,088.61. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Elizabeth B. Rae sold 12,000 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $197.95, for a total value of $2,375,400.00. Following the sale, the senior vice president now directly owns 18,129 shares in the company, valued at approximately $3,588,635.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,313 shares of company stock worth $11,120,642. 5.07% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. boosted its holdings 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 acquiring an additional 2 shares in the last quarter. ETF Managers Group LLC acquired a new position in Waters Corporation during the 2nd quarter worth about $106,000. Intellectus Partners LLC lifted its holdings in Waters Corporation by 4.9% during the 2nd quarter. Intellectus Partners LLC now owns 667 shares of the medical instruments supplier’s stock worth $123,000 after buying an additional 31 shares during the period. First Manhattan Co. acquired a new position in Waters Corporation during the 2nd quarter worth about $130,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in Waters Corporation during the 2nd quarter worth about $160,000. 91.27% of the stock is currently owned by institutional investors.
About Waters Corporation
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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