Waters (NYSE:WAT) Stock Price Expected to Rise, TD Cowen Analyst Says

Waters (NYSE:WAT) had its price objective boosted by TD Cowen from $345.00 to $390.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the medical instruments supplier’s stock. TD Cowen’s price target suggests a potential upside of 4.63% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Rothschild Redb raised Waters to a “strong-buy” rating in a report on Wednesday, October 8th. Scotiabank reaffirmed a “sector outperform” rating and issued a $465.00 price target on shares of Waters in a report on Friday, July 11th. Robert W. Baird cut their price target on Waters from $374.00 to $352.00 and set an “outperform” rating for the company in a report on Wednesday, July 16th. UBS Group reaffirmed a “neutral” rating on shares of Waters in a report on Tuesday, July 15th. Finally, Wall Street Zen cut Waters from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Waters has a consensus rating of “Moderate Buy” and a consensus price target of $381.57.

Waters Stock Performance

WAT traded up $5.40 during trading on Wednesday, reaching $372.74. 382,680 shares of the company’s stock were exchanged, compared to its average volume of 631,728. Waters has a fifty-two week low of $275.05 and a fifty-two week high of $423.56. The company has a quick ratio of 1.22, a current ratio of 1.75 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average price of $319.11 and a 200 day moving average price of $325.09. The company has a market capitalization of $22.19 billion, a P/E ratio of 33.53, a PEG ratio of 3.19 and a beta of 1.11.

Waters (NYSE:WAT) last posted its quarterly earnings results on Thursday, May 19th. The medical instruments supplier reported $2.29 earnings per share for the quarter. The firm had revenue of $608.55 million for the quarter. Waters had a net margin of 21.71% and a return on equity of 38.60%. As a group, analysts predict that Waters will post 12.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Waters

Institutional investors and hedge funds have recently modified their holdings of the business. UMB Bank n.a. boosted its position in Waters by 2.8% during the 2nd quarter. UMB Bank n.a. now owns 1,055 shares of the medical instruments supplier’s stock worth $368,000 after acquiring an additional 29 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in Waters by 2.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,048 shares of the medical instruments supplier’s stock valued at $386,000 after acquiring an additional 30 shares during the period. FourThought Financial Partners LLC raised its stake in Waters by 5.1% in the 1st quarter. FourThought Financial Partners LLC now owns 658 shares of the medical instruments supplier’s stock valued at $243,000 after acquiring an additional 32 shares during the period. Exchange Traded Concepts LLC increased its position in Waters by 5.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 630 shares of the medical instruments supplier’s stock worth $189,000 after buying an additional 35 shares during the period. Finally, Penserra Capital Management LLC increased its position in Waters by 13.1% during the 2nd quarter. Penserra Capital Management LLC now owns 327 shares of the medical instruments supplier’s stock worth $114,000 after buying an additional 38 shares during the period. 94.01% of the stock is currently owned by institutional investors and hedge funds.

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.