Waters (NYSE:WAT) Shares Down 4.4% – What’s Next?

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WAT shares. Jefferies Financial Group raised shares of Waters from a “hold” rating to a “buy” rating and upped their price target for the company from $355.00 to $415.00 in a report on Tuesday, October 8th. Cfra set a $389.00 price target on shares of Waters in a research report on Thursday, October 17th. Stifel Nicolaus upped their price target on shares of Waters from $332.00 to $360.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Barclays increased their target price on shares of Waters from $330.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, November 4th. Finally, Bank of America raised their price objective on shares of Waters from $400.00 to $430.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $384.71.

Waters Stock Performance

The stock’s 50-day moving average price is $377.43 and its 200 day moving average price is $348.15. The company has a market cap of $23.78 billion, a P/E ratio of 38.21, a price-to-earnings-growth ratio of 6.92 and a beta of 1.01. 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 announced its 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 net margin of 21.43% and a return on equity of 49.93%. 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 firm posted $2.84 earnings per share. Waters’s revenue was up 4.0% compared to the same quarter last year. As a group, research analysts expect that Waters Co. will post 11.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Waters

Institutional investors and hedge funds have recently bought and sold shares of the business. Kennebec Savings Bank bought a new stake in Waters in the 3rd quarter valued at $33,000. Fortitude Family Office LLC boosted its stake in shares of Waters by 235.7% in the 4th quarter. Fortitude Family Office LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 66 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Waters in the 3rd quarter valued at $35,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Waters in the 2nd quarter valued at $33,000. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Waters in the 4th quarter valued at $72,000. 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.