Waters (NYSE:WAT) Shares Down 4.4% - What's Next?

Waters Co. (NYSE:WAT - Get Free Report)'s stock price traded down 4.4% during mid-day trading on Wednesday . The company traded as low as $385.56 and last traded at $387.31. 219,467 shares were traded during trading, a decline of 46% from the average session volume of 403,128 shares. The stock had previously closed at $404.93.

Analyst Ratings Changes

WAT has been the topic of a number of research reports. TD Cowen upped their price target on shares of Waters from $363.00 to $410.00 and gave the stock a "hold" rating in a research note 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 research report on Monday, November 4th. Scotiabank initiated coverage on Waters in a report on Monday, December 23rd. They set a "sector perform" rating and a $430.00 price target for the company. Bank of America boosted their price target on Waters from $400.00 to $430.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. Finally, Stifel Nicolaus raised their price objective on shares of Waters from $332.00 to $360.00 and gave the company a "hold" rating in a research report on Monday, November 4th. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $384.71.

Waters Stock Down 1.9 %

The stock has a market cap of $23.58 billion, a P/E ratio of 37.89, a P/E/G ratio of 6.92 and a beta of 1.01. 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 firm's fifty day moving average is $377.43 and its 200 day moving average is $348.15.

Waters (NYSE:WAT - Get Free Report) last posted 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. Waters had a return on equity of 49.93% and a net margin of 21.43%. The business had revenue of $740.30 million for the quarter, compared to analyst estimates of $712.99 million. During the same period in the previous year, the company posted $2.84 earnings per share. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that Waters Co. will post 11.79 EPS for the current year.

Institutional Investors Weigh In On Waters

Several hedge funds and other institutional investors have recently modified their holdings of WAT. HB Wealth Management LLC boosted its holdings in Waters by 34.8% in the 4th quarter. HB Wealth Management LLC now owns 964 shares of the medical instruments supplier's stock valued at $358,000 after purchasing an additional 249 shares during the period. Brooklyn Investment Group raised its position in shares of Waters by 28.4% during the fourth quarter. Brooklyn Investment Group now owns 362 shares of the medical instruments supplier's stock valued at $134,000 after buying an additional 80 shares during the last quarter. Avanza Fonder AB bought a new stake in shares of Waters in the fourth quarter valued at about $1,649,000. Procyon Advisors LLC grew its position in Waters by 49.9% during the fourth quarter. Procyon Advisors LLC now owns 994 shares of the medical instruments supplier's stock worth $369,000 after buying an additional 331 shares in the last quarter. Finally, Tompkins Financial Corp bought a new position in Waters during the fourth quarter valued at about $148,000. Institutional investors and hedge funds 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.