Waters Corporation (WAT) Rating Increased to Strong-Buy at BidaskClub
Waters Corporation (NYSE:WAT) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday.
Other analysts also recently issued research reports about the company. Cantor Fitzgerald restated a “buy” rating and set a $190.00 target price (up previously from $170.00) on shares of Waters Corporation in a research note on Tuesday, April 25th. Cowen and Company restated a “hold” rating and set a $190.00 target price on shares of Waters Corporation in a research note on Friday, July 14th. Barclays PLC set a $160.00 target price on Waters Corporation and gave the company a “hold” rating in a research note on Wednesday, April 26th. Janney Montgomery Scott upgraded Waters Corporation from a “neutral” rating to a “buy” rating and increased their target price for the company from $185.00 to $200.00 in a research note on Monday, May 1st. Finally, Zacks Investment Research upgraded Waters Corporation from a “hold” rating to a “buy” rating and set a $202.00 target price for the company in a research note on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Waters Corporation has an average rating of “Hold” and a consensus target price of $186.00.
Waters Corporation (NYSE:WAT) traded up 1.41% during trading on Wednesday, reaching $182.05. The company had a trading volume of 78,603 shares. Waters Corporation has a 12 month low of $133.35 and a 12 month high of $187.65. The company has a market capitalization of $14.53 billion, a P/E ratio of 27.44 and a beta of 0.84. The stock has a 50 day moving average of $180.09 and a 200-day moving average of $168.45.
Waters Corporation (NYSE:WAT) last issued its quarterly earnings data on Tuesday, July 25th. The medical instruments supplier reported $1.76 EPS for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.05. The business had revenue of $558.30 million for the quarter, compared to analyst estimates of $553.22 million. Waters Corporation had a return on equity of 23.91% and a net margin of 24.26%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 EPS. Equities research analysts expect that Waters Corporation will post $7.38 EPS for the current fiscal year.
Waters Corporation announced that its Board of Directors has approved a share buyback program on Thursday, May 11th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the medical instruments supplier to buy up to 7.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
In other Waters Corporation news, SVP Eugene G. Cassis sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $177.81, for a total value of $533,430.00. Following the completion of the sale, the senior vice president now owns 25,027 shares in the company, valued at approximately $4,450,050.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher A. Kuebler sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $179.67, for a total value of $628,845.00. Following the completion of the sale, the director now owns 17,849 shares of the company’s stock, valued at approximately $3,206,929.83. The disclosure for this sale can be found here. Insiders sold a total of 98,580 shares of company stock valued at $17,730,275 in the last quarter. Corporate insiders own 5.07% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Waters Corporation by 2,810.7% in the first quarter. BlackRock Inc. now owns 5,349,711 shares of the medical instruments supplier’s stock worth $836,212,000 after buying an additional 5,165,917 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Waters Corporation by 20,670.6% in the second quarter. Janus Henderson Group PLC now owns 1,929,793 shares of the medical instruments supplier’s stock worth $354,773,000 after buying an additional 1,920,502 shares in the last quarter. Koch Industries Inc. increased its stake in shares of Waters Corporation by 36,932.0% in the second 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 in the last quarter. Mondrian Investment Partners LTD purchased a new stake in shares of Waters Corporation during the first quarter worth approximately $81,480,000. Finally, Fundsmith LLP increased its stake in shares of Waters Corporation by 11.7% in the second 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 in the last quarter. Institutional investors own 92.06% of the company’s stock.
About Waters Corporation
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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