Waters (NYSE:WAT) Hits New 1-Year High – Still a Buy?

Waters Corporation (NYSE:WAT)’s share price reached a new 52-week high on Wednesday. The company traded as high as $483.33 and last traded at $476.5990, with a volume of 23,231 shares trading hands. The stock had previously closed at $475.52.

Analyst Ratings Changes

A number of brokerages have issued reports on WAT. Jefferies Financial Group lifted their price target on Waters from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. upped their price objective on Waters from $435.00 to $470.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 4th. Barclays increased their price objective on Waters from $500.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, November 4th. Citigroup lifted their price target on shares of Waters from $470.00 to $536.00 and gave the stock a “buy” rating in a research note on Wednesday, November 4th. Finally, Piper Sandler raised Waters from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $400.00 to $480.00 in a research report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $475.48.

Waters Stock Down 1.8%

The company has a market capitalization of $45.44 billion, a price-to-earnings ratio of 198.42, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.89 and a quick ratio of 0.40. The firm’s 50-day simple moving average is $439.52 and its two-hundred day simple moving average is $373.76.

Waters (NYSE:WAT) last released its quarterly earnings data on Tuesday, November 3rd. The medical instruments supplier reported $4.10 EPS for the quarter, topping the consensus estimate of $4.00 by $0.10. Waters had a net margin of 1.75% and a return on equity of 9.91%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the firm earned $3.40 EPS. The business’s revenue for the quarter was up 120.9% compared to the same quarter last year. Sell-side analysts predict that Waters Corporation will post 14.65 EPS for the current fiscal year.

Institutional Trading of Waters

Large investors have recently made changes to their positions in the stock. Pilgrim Global Advisors LLC purchased a new stake in Waters in the 2nd quarter worth approximately $466,131,171,000. BlackRock Inc. acquired a new stake in Waters during the second quarter worth about $3,182,191,000. Aberdeen Group plc increased its position in Waters by 2,015.3% during the 3rd quarter. Aberdeen Group plc now owns 2,921,255 shares of the medical instruments supplier’s stock worth $1,283,570,000 after purchasing an additional 2,783,151 shares in the last quarter. Jupiter Topco LLC purchased a new position in Waters in the second quarter valued at approximately $623,921,000. Finally, Wellington Management Group LLP raised its holdings in Waters by 69.2% in the second quarter. Wellington Management Group LLP now owns 1,373,150 shares of the medical instruments supplier’s stock valued at $514,986,000 after buying an additional 561,824 shares during the period. Institutional investors and hedge funds own 94.01% of the company’s stock.

About Waters

Waters Corporation develops and supplies analytical instruments, software, and consumables used to identify, measure, and characterize chemical and biological materials. Its products include liquid chromatography and mass spectrometry systems, which help customers analyze complex samples. The company serves pharmaceutical and biotechnology businesses, academic and government laboratories, and customers in fields such as food, environmental testing, and materials science. Waters operates internationally, with customers and operations across multiple regions.