Waters (NYSE:WAT) Hits New 1-Year High – Time to Buy?

Waters Co. (NYSE:WAT) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $399.31 and last traded at $395.50, with a volume of 51202 shares trading hands. The stock had previously closed at $380.35.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WAT shares. Scotiabank started coverage on shares of Waters in a research report on Monday, December 23rd. They set a “sector perform” rating and a $430.00 target price on the stock. Evercore ISI boosted their target price on Waters from $335.00 to $355.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 1st. Sanford C. Bernstein upgraded Waters from a “market perform” rating to an “outperform” rating and set a $430.00 price target for the company in a research report on Friday, January 10th. Barclays boosted their price objective on shares of Waters from $330.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, November 4th. Finally, TD Cowen raised their target price on shares of Waters from $363.00 to $410.00 and gave the company a “hold” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $384.71.

Waters Stock Up 1.2 %

The firm has a market cap of $24.03 billion, a price-to-earnings ratio of 38.62, a PEG ratio of 6.92 and a beta of 1.01. The firm has a fifty day moving average price of $377.07 and a 200-day moving average price of $347.34. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 1.14.

Waters (NYSE:WAT) last issued 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. The firm had revenue of $740.30 million for the quarter, compared to analyst estimates of $712.99 million. Waters had a return on equity of 49.93% and a net margin of 21.43%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the company earned $2.84 EPS. As a group, sell-side analysts forecast that Waters Co. will post 11.79 EPS for the current year.

Hedge Funds Weigh In On Waters

A number of large investors have recently bought and sold shares of the stock. Summit Trail Advisors LLC increased its holdings in shares of Waters by 2.4% during the 3rd quarter. Summit Trail Advisors LLC now owns 1,198 shares of the medical instruments supplier’s stock worth $431,000 after buying an additional 28 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in Waters by 3.8% during the third quarter. OneDigital Investment Advisors LLC now owns 851 shares of the medical instruments supplier’s stock valued at $306,000 after acquiring an additional 31 shares during the period. Raymond James Trust N.A. increased its stake in Waters by 2.4% during the third quarter. Raymond James Trust N.A. now owns 1,340 shares of the medical instruments supplier’s stock worth $482,000 after acquiring an additional 32 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Waters by 0.9% in the 3rd quarter. Tidal Investments LLC now owns 3,998 shares of the medical instruments supplier’s stock worth $1,439,000 after purchasing an additional 36 shares during the period. Finally, Vontobel Holding Ltd. lifted its stake in shares of Waters by 1.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 2,782 shares of the medical instruments supplier’s stock valued at $1,001,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Waters Company Profile

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.