Waters (NYSE:WAT) Given New $360.00 Price Target at Barclays

Waters (NYSE:WAT) had its target price increased by Barclays from $330.00 to $360.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an underweight rating on the medical instruments supplier’s stock.

Other research analysts have also issued reports about the stock. Leerink Partners upgraded shares of Waters from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $325.00 to $375.00 in a research note on Thursday, August 1st. The Goldman Sachs Group upgraded shares of Waters to a “hold” rating in a report on Wednesday, July 31st. Cfra set a $389.00 price target on Waters in a research note on Thursday, October 17th. TD Cowen raised their price objective on Waters from $325.00 to $363.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Leerink Partnrs raised Waters from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $365.85.

Waters Stock Performance

Shares of WAT opened at $387.34 on Monday. The company has a 50-day simple moving average of $342.04 and a two-hundred day simple moving average of $325.43. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.83 and a quick ratio of 0.55. The firm has a market capitalization of $22.99 billion, a PE ratio of 36.96, a price-to-earnings-growth ratio of 7.59 and a beta of 0.97. Waters has a one year low of $241.95 and a one year high of $391.00.

Waters (NYSE:WAT) last released its earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.25. The company had revenue of $740.30 million during the quarter, compared to analysts’ expectations of $712.99 million. Waters had a return on equity of 49.93% and a net margin of 21.43%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.84 EPS. On average, analysts anticipate that Waters will post 11.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Waters

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Waters by 0.6% during the first quarter. Vanguard Group Inc. now owns 6,879,316 shares of the medical instruments supplier’s stock valued at $2,368,067,000 after purchasing an additional 41,654 shares during the last quarter. GUARDCAP ASSET MANAGEMENT Ltd grew its holdings in shares of Waters by 1.1% in the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 1,110,898 shares of the medical instruments supplier’s stock worth $382,404,000 after acquiring an additional 11,851 shares during the period. Van ECK Associates Corp increased its position in Waters by 1.0% during the third quarter. Van ECK Associates Corp now owns 659,539 shares of the medical instruments supplier’s stock valued at $219,811,000 after acquiring an additional 6,647 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Waters by 70.7% in the third quarter. Principal Financial Group Inc. now owns 656,019 shares of the medical instruments supplier’s stock valued at $236,095,000 after acquiring an additional 271,804 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Waters by 21.0% in the second quarter. Dimensional Fund Advisors LP now owns 448,304 shares of the medical instruments supplier’s stock worth $130,053,000 after purchasing an additional 77,951 shares during 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.