Stifel Nicolaus Forecasts Strong Price Appreciation for Waters (NYSE:WAT) Stock

Waters (NYSE:WAT) had its target price increased by Stifel Nicolaus from $332.00 to $360.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a hold rating on the medical instruments supplier’s stock.

WAT has been the topic of several other reports. The Goldman Sachs Group upgraded Waters to a “hold” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft cut their price objective on Waters from $330.00 to $310.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Evercore ISI increased their price target on Waters from $335.00 to $355.00 and gave the company an “in-line” rating in a report on Tuesday, October 1st. Jefferies Financial Group raised shares of Waters from a “hold” rating to a “buy” rating and lifted their price target for the company from $355.00 to $415.00 in a research report on Tuesday, October 8th. Finally, Cfra set a $389.00 price objective on shares of Waters in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $365.85.

Waters Stock Up 0.3 %

Shares of Waters stock traded up $1.08 during trading on Monday, hitting $388.42. 20,010 shares of the stock traded hands, compared to its average volume of 429,515. The stock has a market cap of $23.06 billion, a P/E ratio of 36.96, a PEG ratio of 7.59 and a beta of 0.97. The company has a fifty day moving average price of $342.04 and a two-hundred day moving average price of $325.43. Waters has a twelve month low of $241.95 and a twelve month high of $391.00. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.55 and a current ratio of 0.83.

Waters (NYSE:WAT) last posted its earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, topping the consensus estimate of $2.68 by $0.25. The company had revenue of $740.30 million during the quarter, compared to the consensus estimate of $712.99 million. Waters had a net margin of 21.43% and a return on equity of 49.93%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.84 earnings per share. Equities research analysts predict that Waters will post 11.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Waters

Several hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. raised its holdings in Waters by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 133,788 shares of the medical instruments supplier’s stock valued at $48,149,000 after acquiring an additional 1,156 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of Waters by 3.5% during the third quarter. Apollon Wealth Management LLC now owns 3,258 shares of the medical instruments supplier’s stock valued at $1,173,000 after purchasing an additional 109 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Waters by 51.6% in the third quarter. Venturi Wealth Management LLC now owns 911 shares of the medical instruments supplier’s stock valued at $328,000 after purchasing an additional 310 shares in the last quarter. Kennebec Savings Bank bought a new position in Waters in the third quarter worth $33,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Waters during the third quarter worth $35,000. Institutional investors own 94.01% of the company’s stock.

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.