Waters (NYSE:WAT) Price Target Raised to $225.00 at SVB Leerink

Waters (NYSE:WAT) had its price objective raised by SVB Leerink from $195.00 to $225.00 in a report published on Wednesday, The Fly reports. SVB Leerink currently has a market perform rating on the medical instruments supplier’s stock. SVB Leerink also issued estimates for Waters’ Q3 2020 earnings at $1.92 EPS, Q4 2020 earnings at $2.72 EPS, FY2020 earnings at $7.88 EPS, Q1 2021 earnings at $1.65 EPS, Q2 2021 earnings at $2.04 EPS, Q3 2021 earnings at $1.97 EPS, Q4 2021 earnings at $2.59 EPS and FY2021 earnings at $8.25 EPS.

Several other equities analysts have also weighed in on the stock. Citigroup increased their price objective on shares of Waters from $150.00 to $180.00 and gave the company a sell rating in a report on Wednesday. UBS Group cut their price target on Waters from $223.00 to $212.00 and set a neutral rating on the stock in a research note on Tuesday, April 28th. JPMorgan Chase & Co. upgraded Waters from an underweight rating to a neutral rating in a research report on Tuesday, July 28th. Needham & Company LLC initiated coverage on Waters in a report on Tuesday, July 28th. They issued a sell rating for the company. Finally, Stifel Nicolaus raised their target price on Waters from $176.00 to $180.00 and gave the stock a hold rating in a report on Wednesday, April 29th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The company has an average rating of Hold and an average price target of $196.22.

Shares of WAT opened at $213.15 on Wednesday. The business’s fifty day moving average price is $197.00 and its two-hundred day moving average price is $199.83. The firm has a market capitalization of $13.17 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 6.89 and a beta of 0.94. Waters has a 52 week low of $154.39 and a 52 week high of $245.68.

Waters (NYSE:WAT) last issued its quarterly earnings results on Tuesday, July 28th. The medical instruments supplier reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.63. Waters had a negative return on equity of 349.31% and a net margin of 22.61%. The business had revenue of $519.98 million for the quarter, compared to analyst estimates of $519.41 million. On average, equities analysts forecast that Waters will post 8.2 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its stake in Waters by 15.2% in the first quarter. The Manufacturers Life Insurance Company now owns 68,336 shares of the medical instruments supplier’s stock valued at $12,440,000 after buying an additional 9,041 shares in the last quarter. Vident Investment Advisory LLC lifted its position in Waters by 23.6% in the 1st quarter. Vident Investment Advisory LLC now owns 2,515 shares of the medical instruments supplier’s stock valued at $458,000 after acquiring an additional 480 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Waters by 16.5% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,193 shares of the medical instruments supplier’s stock valued at $1,309,000 after acquiring an additional 1,018 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Waters in the 1st quarter worth $2,494,000. Finally, Cypress Capital Group bought a new position in Waters during the 2nd quarter worth about $384,000. Hedge funds and other institutional investors own 95.09% of the company’s stock.

About Waters

Waters Corporation, a specialty measurement company, 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.

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