Bank of America Cuts Waters (NYSE:WAT) Price Target to $410.00

Waters (NYSE:WAT) had its target price lowered by Bank of America from $430.00 to $410.00 in a research report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the medical instruments supplier’s stock.

A number of other research analysts also recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Waters from $380.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Stifel Nicolaus raised their target price on shares of Waters from $332.00 to $360.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Scotiabank started coverage on Waters in a report on Monday, December 23rd. They set a “sector perform” rating and a $430.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their price target on Waters from $310.00 to $325.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. upped their price objective on Waters from $340.00 to $380.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $390.40.

Waters Stock Performance

Shares of WAT stock opened at $369.71 on Thursday. The stock has a market capitalization of $21.95 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 7.37 and a beta of 1.01. Waters has a one year low of $279.24 and a one year high of $423.56. The company’s 50-day simple moving average is $389.84 and its 200-day simple moving average is $364.55. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.38 and a current ratio of 2.02.

Waters (NYSE:WAT) last issued its earnings results on Wednesday, February 12th. The medical instruments supplier reported $4.10 EPS for the quarter, topping the consensus estimate of $4.02 by $0.08. Waters had a return on equity of 49.93% and a net margin of 21.43%. Equities analysts anticipate that Waters will post 11.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Waters

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WAT. Aster Capital Management DIFC Ltd acquired a new position in shares of Waters during the 4th quarter valued at $28,000. Kennebec Savings Bank acquired a new stake in shares of Waters in the third quarter valued at $33,000. Bank of Jackson Hole Trust bought a new position in Waters during the fourth quarter valued at about $34,000. Ashton Thomas Securities LLC acquired a new position in Waters during the third quarter worth about $35,000. Finally, Fortitude Family Office LLC raised its position in Waters by 235.7% in the fourth quarter. Fortitude Family Office LLC now owns 94 shares of the medical instruments supplier’s stock worth $35,000 after acquiring an additional 66 shares in the last quarter. 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.