Waters (NYSE:WAT) Hits New 1-Year High – Still a Buy?

Waters Co. (NYSE:WAT)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $395.44 and last traded at $390.59, with a volume of 147409 shares changing hands. The stock had previously closed at $388.15.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WAT. TD Cowen raised their target price on Waters from $363.00 to $410.00 and gave the company a “hold” rating in a report on Monday, November 4th. Leerink Partnrs upgraded Waters from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Barclays lifted their price objective on Waters from $330.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, November 4th. Cfra set a $389.00 price objective on Waters in a research note on Thursday, October 17th. Finally, Evercore ISI raised their price objective on shares of Waters from $335.00 to $355.00 and gave the company an “in-line” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $365.85.

Waters Stock Down 0.4 %

The firm has a market cap of $22.95 billion, a price-to-earnings ratio of 37.35, a P/E/G ratio of 6.92 and a beta of 0.97. The firm’s 50 day moving average price is $356.22 and its two-hundred day moving average price is $332.60. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.02 and a quick ratio of 1.38.

Waters (NYSE:WAT) last released its earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company posted $2.84 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Waters Co. will post 11.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Waters

Hedge funds have recently added to or reduced their stakes in the company. Kennebec Savings Bank acquired a new stake in Waters in the third quarter valued at $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Waters in the third quarter valued at about $35,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Waters in the second quarter valued at about $33,000. Blue Trust Inc. boosted its holdings in Waters by 190.2% during the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock worth $35,000 after buying an additional 78 shares in the last quarter. Finally, TFC Financial Management Inc. increased its holdings in Waters by 19,900.0% in the second quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier’s stock valued at $58,000 after buying an additional 199 shares in the last quarter. 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.