Cowen and Company Reiterates Hold Rating for Waters Corporation (WAT)
Waters Corporation (NYSE:WAT)‘s stock had its “hold” rating reissued by equities researchers at Cowen and Company in a report released on Friday. They currently have a $190.00 price objective on the medical instruments supplier’s stock. Cowen and Company’s price target would indicate a potential downside of 4.00% from the stock’s current price.
Several other brokerages have also issued reports on WAT. Bank of America Corporation reissued a “neutral” rating and issued a $192.00 target price (up previously from $180.00) on shares of Waters Corporation in a research report on Friday, July 21st. Wells Fargo & Company reissued an “outperform” rating and issued a $205.00 target price (up previously from $195.00) on shares of Waters Corporation in a research report on Thursday, July 13th. Jefferies Group LLC reissued a “hold” rating and issued a $170.00 target price on shares of Waters Corporation in a research report on Friday, July 14th. Barclays PLC increased their target price on Waters Corporation from $188.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 25th. Finally, Deutsche Bank AG increased their target price on Waters Corporation from $199.00 to $200.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $190.71.
Waters Corporation (NYSE WAT) opened at $197.92 on Friday. Waters Corporation has a 52-week low of $133.35 and a 52-week high of $199.78. The stock has a market capitalization of $15,798.77, a P/E ratio of 27.49, a PEG ratio of 2.87 and a beta of 0.83. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.05 and a quick ratio of 1.90.
Waters Corporation (NYSE:WAT) last announced its earnings results on Tuesday, October 24th. The medical instruments supplier reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.03. Waters Corporation had a return on equity of 23.61% and a net margin of 24.34%. The firm had revenue of $565.58 million during the quarter, compared to analyst estimates of $555.25 million. During the same quarter in the prior year, the company earned $1.57 EPS. The business’s revenue was up 7.4% compared to the same quarter last year. research analysts expect that Waters Corporation will post 7.42 earnings per share for the current fiscal year.
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In other Waters Corporation news, SVP Rohit Khanna sold 18,400 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $185.78, for a total transaction of $3,418,352.00. Following the sale, the senior vice president now directly owns 22,477 shares in the company, valued at approximately $4,175,777.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christopher A. Kuebler sold 3,500 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $179.67, for a total value of $628,845.00. Following the sale, the director now owns 17,849 shares in the company, valued at $3,206,929.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,813 shares of company stock worth $9,374,087. Company insiders own 5.07% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of WAT. Janus Henderson Group PLC boosted its stake in Waters Corporation by 20,670.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,929,793 shares of the medical instruments supplier’s stock valued at $354,773,000 after purchasing an additional 1,920,502 shares during the last quarter. Koch Industries Inc. boosted its stake in shares of Waters Corporation by 36,932.0% in the 2nd quarter. Koch Industries Inc. now owns 534,742 shares of the medical instruments supplier’s stock worth $532,000 after buying an additional 533,298 shares during the last quarter. Fundsmith LLP boosted its stake in shares of Waters Corporation by 11.7% in the 2nd quarter. Fundsmith LLP now owns 3,833,955 shares of the medical instruments supplier’s stock worth $704,834,000 after buying an additional 401,420 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Waters Corporation by 214.5% in the 2nd quarter. Renaissance Technologies LLC now owns 526,400 shares of the medical instruments supplier’s stock worth $96,773,000 after buying an additional 359,000 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Waters Corporation by 200.4% in the 3rd quarter. American Century Companies Inc. now owns 512,899 shares of the medical instruments supplier’s stock worth $92,076,000 after buying an additional 342,134 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.
Waters Corporation Company Profile
Waters Corporation is an analytical instrument manufacturer. The Company operates through two segments: Waters and TA. It designs, manufactures, sells and services high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans.
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