Waters (NYSE:WAT) Given New $415.00 Price Target at Wells Fargo & Company

Waters (NYSE:WAT) had its target price increased by analysts at Wells Fargo & Company from $380.00 to $415.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 7.51% from the company’s current price.

Several other brokerages also recently weighed in on WAT. Jefferies Financial Group upgraded shares of Waters from a “hold” rating to a “buy” rating and increased their target price for the stock from $355.00 to $415.00 in a research note on Tuesday, October 8th. TD Cowen lifted their target price on Waters from $325.00 to $363.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Leerink Partners raised Waters from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $325.00 to $375.00 in a report on Thursday, August 1st. Cfra set a $389.00 price target on Waters in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Waters from $330.00 to $310.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $348.00.

Waters Stock Performance

NYSE WAT opened at $386.00 on Monday. The company has a fifty day moving average of $342.04 and a two-hundred day moving average of $325.28. The company has a market capitalization of $22.91 billion, a PE ratio of 38.45, a P/E/G ratio of 6.35 and a beta of 0.97. Waters has a 1 year low of $241.95 and a 1 year high of $389.35. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.10 and a quick ratio of 1.42.

Waters (NYSE:WAT) last released its quarterly earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.25. Waters had a return on equity of 56.81% and a net margin of 20.71%. The firm had revenue of $740.30 million for the quarter, compared to the consensus estimate of $712.99 million. During the same quarter last year, the business posted $2.84 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, analysts expect that Waters will post 11.6 earnings per share for the current year.

Institutional Investors Weigh In On Waters

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Linscomb Wealth Inc. boosted its position in shares of Waters by 0.4% in the 2nd quarter. Linscomb Wealth Inc. now owns 7,841 shares of the medical instruments supplier’s stock worth $2,275,000 after buying an additional 34 shares in the last quarter. Johnson Investment Counsel Inc. raised its position in Waters by 3.2% during the second quarter. Johnson Investment Counsel Inc. now owns 1,084 shares of the medical instruments supplier’s stock worth $314,000 after acquiring an additional 34 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Waters by 3.0% in the second quarter. Summit Trail Advisors LLC now owns 1,170 shares of the medical instruments supplier’s stock valued at $339,000 after purchasing an additional 34 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of Waters by 0.3% in the second quarter. Retirement Systems of Alabama now owns 13,087 shares of the medical instruments supplier’s stock valued at $3,797,000 after purchasing an additional 37 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its stake in shares of Waters by 1.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 2,782 shares of the medical instruments supplier’s stock worth $1,001,000 after purchasing an additional 39 shares in the last quarter. 94.01% of the stock is currently owned by institutional investors and hedge funds.

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.