Waters Corporation (WAT) Receives “Hold” Rating from Jefferies Group LLC
Jefferies Group LLC reaffirmed their hold rating on shares of Waters Corporation (NYSE:WAT) in a research report released on Thursday. The firm currently has a $175.00 target price on the medical instruments supplier’s stock.
A number of other research firms have also issued reports on WAT. Bank of America Corporation reiterated a neutral rating and issued a $192.00 target price (up from $180.00) on shares of Waters Corporation in a report on Friday, July 21st. Wells Fargo & Company reiterated an outperform rating and issued a $205.00 target price (up from $195.00) on shares of Waters Corporation in a report on Thursday, July 13th. Zacks Investment Research lowered Waters Corporation from a buy rating to a hold rating in a report on Thursday, July 27th. Cowen and Company reiterated a hold rating and issued a $190.00 target price on shares of Waters Corporation in a report on Friday, July 14th. Finally, BidaskClub lowered Waters Corporation from a strong-buy rating to a buy rating in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $186.00.
Shares of Waters Corporation (WAT) traded down 0.53% on Thursday, reaching $182.51. The company had a trading volume of 191,946 shares. The company has a market capitalization of $14.57 billion, a P/E ratio of 27.51 and a beta of 0.84. Waters Corporation has a 52 week low of $133.35 and a 52 week high of $187.65. The company has a 50 day moving average of $179.52 and a 200-day moving average of $171.13.
Waters Corporation (NYSE:WAT) last released its earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.05. The firm had revenue of $558.30 million during 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%. Waters Corporation’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business posted $1.58 earnings per share. Analysts predict that Waters Corporation will post $7.38 earnings per share for the current fiscal year.
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Waters Corporation announced that its Board of Directors has initiated a share buyback program on Thursday, May 11th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the medical instruments supplier to purchase up to 7.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other Waters Corporation news, Director Christopher A. Kuebler sold 3,500 shares of Waters Corporation stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $179.67, for a total transaction of $628,845.00. Following the completion of the sale, the director now directly owns 17,849 shares of the company’s stock, valued at approximately $3,206,929.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rohit Khanna sold 23,000 shares of Waters Corporation stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $186.90, for a total value of $4,298,700.00. Following the sale, the senior vice president now directly owns 27,077 shares of the company’s stock, valued at $5,060,691.30. The disclosure for this sale can be found here. Insiders have sold a total of 30,780 shares of company stock valued at $5,716,221 over the last ninety days. 5.07% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its stake in Waters Corporation by 0.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 573 shares of the medical instruments supplier’s stock valued at $105,000 after buying an additional 2 shares during the last quarter. Watermark Asset Management Inc. purchased a new stake in Waters Corporation during the first quarter valued at $106,000. ETF Managers Group LLC purchased a new stake in Waters Corporation during the second quarter valued at $106,000. Creative Planning increased its stake in Waters Corporation by 1.6% in the first quarter. Creative Planning now owns 744 shares of the medical instruments supplier’s stock valued at $116,000 after buying an additional 12 shares during the last quarter. Finally, Intellectus Partners LLC increased its stake in Waters Corporation by 4.9% in the second quarter. Intellectus Partners LLC now owns 667 shares of the medical instruments supplier’s stock valued at $123,000 after buying an additional 31 shares during the last quarter. 91.10% of the stock is owned by institutional investors.
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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