A number of other brokerages have also issued reports on WAT. UBS Group began coverage on shares of Waters in a research note on Wednesday, July 20th. They set a neutral rating and a $349.00 target price for the company. Barclays started coverage on shares of Waters in a report on Tuesday, May 17th. They issued an overweight rating and a $375.00 target price for the company. Cowen boosted their target price on shares of Waters to $358.00 in a report on Friday, May 20th. Wells Fargo & Company upgraded shares of Waters from an underweight rating to an equal weight rating and cut their price objective for the company from $320.00 to $315.00 in a report on Monday, April 25th. Finally, Bank of America upgraded shares of Waters from an underperform rating to a neutral rating and increased their price target for the stock from $320.00 to $330.00 in a report on Tuesday, May 17th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $350.14.
Waters Price Performance
Shares of NYSE:WAT opened at $337.87 on Wednesday. The company has a debt-to-equity ratio of 3.85, a current ratio of 0.99 and a quick ratio of 1.75. Waters has a 1-year low of $288.32 and a 1-year high of $428.22. The company has a market capitalization of $20.35 billion, a P/E ratio of 29.48, a P/E/G ratio of 4.10 and a beta of 0.81. The firm’s 50 day simple moving average is $334.92 and its two-hundred day simple moving average is $323.29.
Insiders Place Their Bets
In other Waters news, Director Christopher A. Kuebler sold 4,000 shares of the firm’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $328.78, for a total value of $1,315,120.00. Following the completion of the sale, the director now directly owns 14,064 shares of the company’s stock, valued at approximately $4,623,961.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.77% of the company’s stock.
Institutional Trading of Waters
Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of Waters by 79.6% during the 1st quarter. Wellington Management Group LLP now owns 1,504,592 shares of the medical instruments supplier’s stock worth $467,011,000 after purchasing an additional 666,851 shares during the last quarter. Norges Bank acquired a new stake in shares of Waters during the 4th quarter worth about $189,516,000. BlackRock Inc. increased its position in shares of Waters by 5.8% during the 4th quarter. BlackRock Inc. now owns 6,069,554 shares of the medical instruments supplier’s stock worth $2,261,515,000 after purchasing an additional 331,610 shares during the last quarter. Invesco Ltd. increased its position in shares of Waters by 15.5% during the 4th quarter. Invesco Ltd. now owns 969,123 shares of the medical instruments supplier’s stock worth $361,093,000 after purchasing an additional 129,837 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Waters by 124.6% during the 4th quarter. Schroder Investment Management Group now owns 229,736 shares of the medical instruments supplier’s stock worth $85,599,000 after purchasing an additional 127,458 shares during the last quarter. 90.65% of the stock is owned by institutional investors and hedge funds.
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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