Waters (NYSE:WAT) Stock Price Expected to Rise, Bank of America Analyst Says

Waters (NYSE:WAT - Get Free Report) had its target price raised by research analysts at Bank of America from $400.00 to $430.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the medical instruments supplier's stock. Bank of America's target price suggests a potential upside of 13.68% from the company's previous close.

A number of other brokerages also recently weighed in on WAT. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Waters from $310.00 to $325.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Barclays raised their target price on shares of Waters from $330.00 to $360.00 and gave the company an "underweight" rating in a research note on Monday, November 4th. Stifel Nicolaus boosted their price target on Waters from $332.00 to $360.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. Jefferies Financial Group raised Waters from a "hold" rating to a "buy" rating and raised their price objective for the company from $355.00 to $415.00 in a research report on Tuesday, October 8th. Finally, TD Cowen boosted their target price on Waters from $363.00 to $410.00 and gave the stock a "hold" rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $375.85.

Waters Stock Down 1.2 %

Waters stock traded down $4.77 during midday trading on Friday, reaching $378.26. The stock had a trading volume of 307,928 shares, compared to its average volume of 507,197. Waters has a 1-year low of $279.24 and a 1-year high of $397.02. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.38 and a current ratio of 2.02. The firm's fifty day simple moving average is $366.04 and its 200-day simple moving average is $336.08. The stock has a market capitalization of $22.46 billion, a P/E ratio of 36.09, a price-to-earnings-growth ratio of 6.92 and a beta of 1.01.

Waters (NYSE:WAT - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.25. The business had revenue of $740.30 million for the quarter, compared to analyst estimates of $712.99 million. Waters had a net margin of 21.43% and a return on equity of 49.93%. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.84 earnings per share. As a group, analysts expect that Waters will post 11.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Waters

Hedge funds have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC grew its stake in Waters by 11.4% during the second quarter. Sequoia Financial Advisors LLC now owns 1,124 shares of the medical instruments supplier's stock worth $326,000 after buying an additional 115 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Waters by 3.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,728 shares of the medical instruments supplier's stock valued at $1,081,000 after purchasing an additional 107 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Waters by 10.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,706 shares of the medical instruments supplier's stock valued at $785,000 after purchasing an additional 249 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Waters by 800.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 25,446 shares of the medical instruments supplier's stock worth $7,382,000 after buying an additional 22,621 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Waters by 190.2% in the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier's stock valued at $35,000 after buying an additional 78 shares in the last quarter. Institutional investors own 94.01% of the company's stock.

Waters Company Profile

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.