Waters (NYSE:WAT) Rating Increased to Outperform at Sanford C. Bernstein

Waters (NYSE:WAT - Get Free Report) was upgraded by analysts at Sanford C. Bernstein from a "market perform" rating to an "outperform" rating in a research report issued on Friday, MarketBeat reports. The firm presently has a $430.00 price target on the medical instruments supplier's stock. Sanford C. Bernstein's target price would suggest a potential upside of 12.87% from the stock's previous close.

Several other research analysts also recently commented on WAT. TD Cowen boosted their target price on Waters from $363.00 to $410.00 and gave the stock a "hold" rating in a research note on Monday, November 4th. Evercore ISI boosted their target price on shares of Waters from $335.00 to $355.00 and gave the stock an "in-line" rating in a research note on Tuesday, October 1st. Wells Fargo & Company raised their price objective on Waters from $380.00 to $415.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped their target price on Waters from $310.00 to $325.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Finally, Barclays lifted their price target on Waters from $330.00 to $360.00 and gave the company an "underweight" rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Waters currently has an average rating of "Hold" and an average price target of $384.71.

Waters Stock Performance

Shares of NYSE:WAT traded up $6.76 on Friday, hitting $380.96. The company had a trading volume of 585,453 shares, compared to its average volume of 377,142. The stock has a 50 day moving average price of $376.97 and a 200 day moving average price of $345.11. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.14. The stock has a market cap of $22.62 billion, a price-to-earnings ratio of 36.35, a P/E/G ratio of 6.92 and a beta of 1.01. Waters has a 1-year low of $279.24 and a 1-year high of $397.02.

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

Hedge Funds Weigh In On Waters

Several hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its holdings in shares of Waters by 70.7% in the third quarter. Principal Financial Group Inc. now owns 656,019 shares of the medical instruments supplier's stock worth $236,095,000 after buying an additional 271,804 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Waters by 34.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 393,890 shares of the medical instruments supplier's stock worth $141,757,000 after purchasing an additional 100,811 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Waters by 37.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 305,661 shares of the medical instruments supplier's stock valued at $110,005,000 after purchasing an additional 82,865 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Waters by 21.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 448,304 shares of the medical instruments supplier's stock valued at $130,053,000 after purchasing an additional 77,951 shares in the last quarter. Finally, Applied Finance Capital Management LLC increased its holdings in shares of Waters by 3,627.0% in the third quarter. Applied Finance Capital Management LLC now owns 68,987 shares of the medical instruments supplier's stock worth $24,828,000 after purchasing an additional 67,136 shares during the period. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

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.