Waters Corporation (WAT) PT Raised to $199.00

Waters Corporation (NYSE:WAT) had its target price boosted by Robert W. Baird from $196.00 to $199.00 in a research note published on Wednesday. Robert W. Baird currently has an outperform rating on the medical instruments supplier’s stock.

A number of other equities research analysts have also issued reports on the company. Morgan Stanley reaffirmed an underweight rating and set a $183.00 target price (up from $174.00) on shares of Waters Corporation in a research report on Wednesday, July 26th. Jefferies Group LLC reaffirmed a hold rating and set a $170.00 target price on shares of Waters Corporation in a research report on Friday, July 14th. Bank of America Corporation reaffirmed a neutral rating and set a $192.00 target price (up from $180.00) on shares of Waters Corporation in a research report on Friday, July 21st. Deutsche Bank AG lowered Waters Corporation from a buy rating to a hold rating and boosted their target price for the stock from $183.00 to $194.00 in a research report on Monday, July 10th. Finally, Cowen and Company reaffirmed a hold rating and set a $190.00 target price on shares of Waters Corporation in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Waters Corporation currently has an average rating of Hold and an average target price of $190.71.

Shares of Waters Corporation (NYSE WAT) opened at 199.75 on Wednesday. The company’s 50-day moving average price is $185.39 and its 200-day moving average price is $179.71. Waters Corporation has a 52-week low of $133.35 and a 52-week high of $199.78. The stock has a market cap of $15.94 billion, a PE ratio of 30.11 and a beta of 0.81.

Waters Corporation (NYSE:WAT) last announced its quarterly earnings data on Tuesday, October 24th. The medical instruments supplier reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.03. The business had revenue of $565.58 million during the quarter, compared to analyst estimates of $555.25 million. Waters Corporation had a return on equity of 23.61% and a net margin of 24.34%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.57 earnings per share. Analysts expect that Waters Corporation will post $7.40 earnings per share for the current year.

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In related news, SVP Rohit Khanna sold 18,400 shares of the company’s 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 transaction, the senior vice president now directly owns 22,477 shares of the company’s stock, valued at $4,175,777.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher A. Kuebler sold 3,500 shares of the company’s 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 transaction, the director now directly owns 17,849 shares in the company, valued at $3,206,929.83. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its position in Waters Corporation by 15.1% during the third quarter. Victory Capital Management Inc. now owns 12,390 shares of the medical instruments supplier’s stock valued at $2,224,000 after buying an additional 1,626 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Waters Corporation during the third quarter valued at $2,097,000. Stack Financial Management Inc raised its position in Waters Corporation by 1.3% during the third quarter. Stack Financial Management Inc now owns 118,147 shares of the medical instruments supplier’s stock valued at $21,210,000 after buying an additional 1,557 shares during the period. Pictet Asset Management Ltd. raised its position in Waters Corporation by 57.9% during the third quarter. Pictet Asset Management Ltd. now owns 340,478 shares of the medical instruments supplier’s stock valued at $61,123,000 after buying an additional 124,800 shares during the period. Finally, Parsec Financial Management Inc. acquired a new position in Waters Corporation during the third quarter valued at $1,252,000. 90.95% of the stock is currently owned by hedge funds and other 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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