Waters (NYSE:WAT) Upgraded by SVB Leerink to Outperform

SVB Leerink upgraded shares of Waters (NYSE:WAT) from a market perform rating to an outperform rating in a report released on Thursday, Marketbeat reports. They currently have $375.00 price objective on the medical instruments supplier’s stock, up from their prior price objective of $325.00.

Several other brokerages also recently commented on WAT. Stifel Nicolaus raised their price objective on Waters from $330.00 to $332.00 and gave the stock a hold rating in a research note on Wednesday, May 8th. Robert W. Baird dropped their price target on Waters from $319.00 to $312.00 and set a neutral rating on the stock in a research report on Wednesday, May 8th. Barclays decreased their price objective on Waters from $295.00 to $275.00 and set an underweight rating for the company in a research report on Friday, June 28th. Jefferies Financial Group initiated coverage on shares of Waters in a report on Monday, June 3rd. They set a hold rating and a $320.00 target price on the stock. Finally, TD Cowen upped their price target on shares of Waters from $350.00 to $358.00 and gave the company a hold rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $310.58.

Waters Price Performance

Shares of WAT opened at $345.66 on Thursday. The stock has a market cap of $20.52 billion, a P/E ratio of 33.92, a price-to-earnings-growth ratio of 5.61 and a beta of 0.95. Waters has a 1 year low of $231.90 and a 1 year high of $367.21. The stock’s 50-day moving average price is $303.98 and its two-hundred day moving average price is $322.00. The company has a current ratio of 2.10, a quick ratio of 1.30 and a debt-to-equity ratio of 1.42.

Waters (NYSE:WAT) last announced its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.08. The business had revenue of $709.00 million for the quarter, compared to the consensus estimate of $700.09 million. Waters had a net margin of 20.71% and a return on equity of 56.81%. Waters’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the company posted $2.80 EPS. On average, equities analysts predict that Waters will post 11.6 earnings per share for the current year.

Insider Buying and Selling at Waters

In related news, Director Richard H. Fearon acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were bought at an average price of $332.90 per share, for a total transaction of $332,900.00. Following the purchase, the director now directly owns 1,653 shares in the company, valued at approximately $550,283.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Richard H. Fearon acquired 1,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were bought at an average cost of $332.90 per share, for a total transaction of $332,900.00. Following the purchase, the director now directly owns 1,653 shares of the company’s stock, valued at $550,283.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher A. Kuebler sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total transaction of $1,446,560.00. Following the completion of the sale, the director now owns 14,716 shares of the company’s stock, valued at $5,321,894.24. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Waters

A number of large investors have recently added to or reduced their stakes in the business. Indiana Trust & Investment Management CO acquired a new position in shares of Waters in the first quarter valued at $25,000. Riverview Trust Co acquired a new position in Waters in the 1st quarter valued at about $28,000. Wetzel Investment Advisors Inc. bought a new position in Waters in the 4th quarter valued at about $39,000. Blue Trust Inc. lifted its position in Waters by 190.2% during the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock worth $35,000 after acquiring an additional 78 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Waters during the fourth quarter worth approximately $41,000. Institutional investors own 94.01% of the company’s stock.

About Waters

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.