Waters (NYSE:WAT) Hits New 1-Year High – Here’s Why

Waters Co. (NYSE:WAT) shares reached a new 52-week high on Tuesday . The company traded as high as $411.75 and last traded at $409.71, with a volume of 51670 shares. The stock had previously closed at $404.00.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Waters from $380.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Bank of America increased their price target on Waters from $400.00 to $430.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Stifel Nicolaus lifted their price objective on Waters from $332.00 to $360.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their target price on Waters from $310.00 to $325.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Finally, Barclays raised their target price on Waters from $330.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $384.71.

Waters Trading Up 1.0 %

The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.14. The business has a 50 day moving average of $379.89 and a 200-day moving average of $352.73. The firm has a market capitalization of $24.50 billion, a P/E ratio of 39.36, a PEG ratio of 7.24 and a beta of 1.01.

Waters (NYSE:WAT) last issued its quarterly earnings data on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share (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 firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.84 earnings per share. Analysts anticipate that Waters Co. will post 11.79 EPS for the current fiscal year.

Institutional Trading of Waters

Institutional investors have recently modified their holdings of the company. Kennebec Savings Bank bought a new position in Waters in the third quarter valued at $33,000. Ashton Thomas Securities LLC bought a new stake in Waters during the 3rd quarter worth about $35,000. Fortitude Family Office LLC boosted its stake in shares of Waters by 235.7% during the 4th quarter. Fortitude Family Office LLC now owns 94 shares of the medical instruments supplier’s stock worth $35,000 after buying an additional 66 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of Waters in the 2nd quarter valued at about $59,000. Finally, R Squared Ltd acquired a new stake in shares of Waters in the fourth quarter valued at about $63,000. 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.