Stifel Nicolaus Increases Waters (NYSE:WAT) Price Target to $332.00

Waters (NYSE:WAT) had its price target hoisted by research analysts at Stifel Nicolaus from $330.00 to $332.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the medical instruments supplier’s stock. Stifel Nicolaus’ price objective would indicate a potential downside of 1.31% from the company’s previous close.

WAT has been the topic of a number of other reports. Barclays upped their target price on Waters from $275.00 to $300.00 and gave the company an “underweight” rating in a research report on Monday, February 12th. Robert W. Baird reduced their price objective on shares of Waters from $319.00 to $312.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Evercore ISI upped their target price on shares of Waters from $320.00 to $340.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating and ten have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $306.70.

Waters Stock Up 3.9 %

Shares of NYSE:WAT opened at $336.42 on Wednesday. The company has a market capitalization of $19.95 billion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 6.39 and a beta of 0.98. The company has a 50 day moving average of $332.93 and a two-hundred day moving average of $311.03. Waters has a 52-week low of $231.90 and a 52-week high of $363.80. The company has a quick ratio of 1.57, a current ratio of 2.22 and a debt-to-equity ratio of 2.00.

Waters (NYSE:WAT) last released its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.11. The business had revenue of $636.80 million during the quarter, compared to analyst estimates of $635.57 million. Waters had a net margin of 21.72% and a return on equity of 81.30%. The business’s revenue was down 7.0% on a year-over-year basis. During the same period last year, the business earned $2.49 EPS. As a group, analysts forecast that Waters will post 11.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Linda Baddour sold 500 shares of Waters stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $355.54, for a total transaction of $177,770.00. Following the sale, the director now owns 2,250 shares of the company’s stock, valued at $799,965. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On Waters

Hedge funds and other institutional investors have recently modified their holdings of the stock. Indiana Trust & Investment Management CO acquired a new position in Waters during the 1st quarter valued at about $25,000. Riverview Trust Co acquired a new position in shares of Waters during the first quarter valued at approximately $28,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Waters during the third quarter worth approximately $33,000. Exchange Traded Concepts LLC acquired a new stake in Waters in the fourth quarter worth approximately $35,000. Finally, VisionPoint Advisory Group LLC boosted its stake in Waters by 300.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 144 shares of the medical instruments supplier’s stock valued at $39,000 after purchasing an additional 108 shares in the last quarter. 94.01% of the stock is currently owned by institutional investors.

Waters Company Profile

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.