Waters (NYSE:WAT) Given New $300.00 Price Target at Evercore ISI

Waters (NYSE:WAT) had its target price decreased by research analysts at Evercore ISI from $320.00 to $300.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “in-line” rating on the medical instruments supplier’s stock. Evercore ISI’s price target points to a potential upside of 5.83% from the company’s previous close.

Other analysts have also issued research reports about the stock. Barclays lowered their price objective on shares of Waters from $295.00 to $275.00 and set an “underweight” rating for the company in a research note on Friday. Stifel Nicolaus lifted their price objective on shares of Waters from $330.00 to $332.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Robert W. Baird lowered their price objective on shares of Waters from $319.00 to $312.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. TD Cowen lifted their price objective on shares of Waters from $350.00 to $358.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Finally, Jefferies Financial Group initiated coverage on shares of Waters in a research report on Monday, June 3rd. They issued a “hold” rating and a $320.00 price target for the company. One research analyst has rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $301.20.

Waters Stock Performance

NYSE:WAT traded up $0.77 during mid-day trading on Tuesday, reaching $283.47. 92,265 shares of the company’s stock were exchanged, compared to its average volume of 452,270. Waters has a one year low of $231.90 and a one year high of $367.21. The firm has a market capitalization of $16.82 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 4.62 and a beta of 0.95. The business’s fifty day simple moving average is $316.26 and its two-hundred day simple moving average is $323.85. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.30 and a current ratio of 1.94.

Waters (NYSE:WAT) last released its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.11. The business had revenue of $636.80 million for the quarter, compared to analyst estimates of $635.57 million. Waters had a net margin of 20.75% and a return on equity of 66.59%. Waters’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period last year, the firm earned $2.49 earnings per share. Analysts anticipate that Waters will post 11.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Christopher A. Kuebler sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total value of $1,446,560.00. Following the transaction, the director now directly owns 14,716 shares in the company, valued at $5,321,894.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Waters news, Director Christopher A. Kuebler sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $361.64, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 cost of $332.90 per share, with a total value of $332,900.00. Following the purchase, the director now owns 1,653 shares of the company’s stock, valued at approximately $550,283.70. The disclosure for this purchase can be found here. 0.82% of the stock is owned by insiders.

Hedge Funds Weigh In On Waters

Hedge funds and other institutional investors have recently made changes to their positions in the business. GUARDCAP ASSET MANAGEMENT Ltd purchased a new stake in shares of Waters in the 4th quarter worth approximately $361,839,000. Norges Bank bought a new stake in Waters during the fourth quarter valued at about $206,286,000. Nordea Investment Management AB raised its holdings in Waters by 129.9% during the fourth quarter. Nordea Investment Management AB now owns 973,537 shares of the medical instruments supplier’s stock valued at $322,017,000 after acquiring an additional 550,112 shares during the period. Nuance Investments LLC raised its holdings in Waters by 356.0% during the fourth quarter. Nuance Investments LLC now owns 419,363 shares of the medical instruments supplier’s stock valued at $138,067,000 after acquiring an additional 327,389 shares during the period. Finally, TD Asset Management Inc raised its holdings in Waters by 215.7% during the fourth quarter. TD Asset Management Inc now owns 425,219 shares of the medical instruments supplier’s stock valued at $139,995,000 after acquiring an additional 290,511 shares during the period. 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.