TD Cowen Forecasts Strong Price Appreciation for Waters (NYSE:WAT) Stock

Waters (NYSE:WAT) had its price objective hoisted by TD Cowen from $363.00 to $410.00 in a report published on Monday morning, Benzinga reports. The firm currently has a hold rating on the medical instruments supplier’s stock.

A number of other equities analysts have also recently weighed in on WAT. The Goldman Sachs Group raised Waters to a “hold” rating in a report on Wednesday, July 31st. Cfra set a $389.00 target price on shares of Waters in a report on Thursday, October 17th. Sanford C. Bernstein lifted their price target on shares of Waters from $345.00 to $360.00 and gave the stock a “market perform” rating in a report on Monday. Jefferies Financial Group raised shares of Waters from a “hold” rating to a “buy” rating and upped their price objective for the company from $355.00 to $415.00 in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Waters from $330.00 to $310.00 and set a “hold” rating for the company in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $365.85.

Waters Price Performance

WAT traded up $1.08 during trading on Monday, reaching $388.42. 20,010 shares of the stock were exchanged, compared to its average volume of 429,515. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.83 and a quick ratio of 0.55. The company has a market capitalization of $23.06 billion, a price-to-earnings ratio of 36.96, a P/E/G ratio of 7.59 and a beta of 0.97. Waters has a 1 year low of $241.95 and a 1 year high of $391.00. The business’s 50 day moving average price is $342.04 and its two-hundred day moving average price is $325.43.

Waters (NYSE:WAT) last issued its quarterly earnings data on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.25. Waters had a net margin of 21.43% and a return on equity of 49.93%. The firm had revenue of $740.30 million for the quarter, compared to analysts’ expectations of $712.99 million. During the same period in the prior year, the company earned $2.84 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts anticipate that Waters will post 11.63 earnings per share for the current year.

Institutional Trading of Waters

Several large investors have recently bought and sold shares of the company. Kennebec Savings Bank bought a new stake in shares of Waters in the 3rd quarter worth about $33,000. Ashton Thomas Securities LLC acquired a new position in Waters in the third quarter worth about $35,000. Itau Unibanco Holding S.A. acquired a new stake in Waters during the second quarter valued at approximately $33,000. Blue Trust Inc. lifted its holdings in Waters by 190.2% during the 2nd quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock worth $35,000 after buying an additional 78 shares during the last quarter. Finally, TFC Financial Management Inc. grew its position in shares of Waters by 19,900.0% in the 2nd quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier’s stock worth $58,000 after acquiring an additional 199 shares in the last quarter. Institutional investors and hedge funds 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.