Waters (NYSE:WAT) Reaches New 12-Month High - Still a Buy?

Shares of Waters Co. (NYSE:WAT - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $399.31 and last traded at $395.50, with a volume of 51202 shares. The stock had previously closed at $380.35.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WAT. Barclays boosted their price objective on shares of Waters from $330.00 to $360.00 and gave the stock an "underweight" rating in a report on Monday, November 4th. Sanford C. Bernstein raised shares of Waters from a "market perform" rating to an "outperform" rating and set a $430.00 price target for the company in a research note on Friday. 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 note on Tuesday, October 8th. TD Cowen lifted their price objective on Waters from $363.00 to $410.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Finally, Scotiabank assumed coverage on Waters in a report on Monday, December 23rd. They set a "sector perform" rating and a $430.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Waters presently has an average rating of "Hold" and an average target price of $384.71.

Waters Stock Performance

The company's 50-day moving average price is $377.07 and its 200 day moving average price is $347.34. The stock has a market capitalization of $23.67 billion, a PE ratio of 38.04, a PEG ratio of 6.92 and a beta of 1.01. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.38 and a current ratio of 2.02.

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

Institutional Investors Weigh In On Waters

Several hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC boosted its position in shares of Waters by 54.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,909 shares of the medical instruments supplier's stock worth $552,000 after purchasing an additional 669 shares in the last quarter. Quest Partners LLC grew its stake in shares of Waters by 32,633.3% in the second quarter. Quest Partners LLC now owns 982 shares of the medical instruments supplier's stock worth $285,000 after acquiring an additional 979 shares during the last quarter. Choreo LLC increased its holdings in shares of Waters by 22.4% during the second quarter. Choreo LLC now owns 1,912 shares of the medical instruments supplier's stock valued at $539,000 after acquiring an additional 350 shares in the last quarter. American Century Companies Inc. raised its position in shares of Waters by 1.0% in the 2nd quarter. American Century Companies Inc. now owns 323,966 shares of the medical instruments supplier's stock worth $93,989,000 after purchasing an additional 3,163 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its stake in Waters by 3.2% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,084 shares of the medical instruments supplier's stock worth $314,000 after purchasing an additional 34 shares in the last quarter. Institutional investors own 94.01% of the company's stock.

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.