Waters (NYSE:WAT) Price Target Cut to $300.00 by Analysts at Evercore ISI

Waters (NYSE:WAT) had its target price lowered by Evercore ISI from $320.00 to $300.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an in-line rating on the medical instruments supplier’s stock.

Several other brokerages have also weighed in on WAT. Stifel Nicolaus increased their target price on Waters from $330.00 to $332.00 and gave the stock a hold rating in a research report on Wednesday, May 8th. Jefferies Financial Group assumed coverage on shares of Waters in a research note on Monday, June 3rd. They issued a hold rating and a $320.00 target price on the stock. TD Cowen raised their target price on shares of Waters from $350.00 to $358.00 and gave the company a hold rating in a research note on Wednesday, May 8th. Robert W. Baird dropped their price objective on shares of Waters from $319.00 to $312.00 and set a neutral rating on the stock in a research note on Wednesday, May 8th. Finally, Barclays dropped their price objective on shares of Waters from $295.00 to $275.00 and set an underweight rating on the stock in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. According to MarketBeat.com, Waters has an average rating of Hold and a consensus target price of $301.20.

Waters Stock Performance

NYSE WAT opened at $286.21 on Tuesday. The business’s 50-day moving average price is $314.31 and its 200 day moving average price is $322.84. Waters has a twelve month low of $231.90 and a twelve month high of $367.21. The company has a market capitalization of $16.98 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 4.58 and a beta of 0.95. The company has a current ratio of 1.94, a quick ratio of 1.30 and a debt-to-equity ratio of 1.60.

Waters (NYSE:WAT) last issued its earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.11. The business had revenue of $636.80 million for the quarter, compared to analyst estimates of $635.57 million. Waters had a return on equity of 66.59% and a net margin of 20.75%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the company posted $2.49 EPS. On average, research analysts predict that Waters will post 11.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Christopher A. Kuebler sold 4,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $361.64, for a total value of $1,446,560.00. Following the completion of the sale, the director now directly owns 14,716 shares of the company’s stock, valued at $5,321,894.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Richard H. Fearon bought 1,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was bought at an average cost of $332.90 per share, for a total transaction of $332,900.00. Following the completion of the purchase, the director now directly owns 1,653 shares in the company, valued at approximately $550,283.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher A. Kuebler sold 4,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $361.64, for a total value of $1,446,560.00. Following the sale, the director now owns 14,716 shares in the company, valued at $5,321,894.24. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

Institutional Trading of Waters

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in shares of Waters by 16.4% during the 2nd quarter. GAMMA Investing LLC now owns 758 shares of the medical instruments supplier’s stock worth $220,000 after purchasing an additional 107 shares during the period. Armstrong Henry H Associates Inc. raised its position in shares of Waters by 1.3% during the 2nd quarter. Armstrong Henry H Associates Inc. now owns 10,958 shares of the medical instruments supplier’s stock worth $3,179,000 after purchasing an additional 139 shares during the period. Cetera Investment Advisers raised its position in shares of Waters by 310.2% during the 1st quarter. Cetera Investment Advisers now owns 4,635 shares of the medical instruments supplier’s stock worth $1,596,000 after purchasing an additional 3,505 shares during the period. Swedbank AB acquired a new stake in shares of Waters during the 1st quarter worth approximately $10,106,000. Finally, Tidal Investments LLC raised its position in shares of Waters by 61.6% during the 1st quarter. Tidal Investments LLC now owns 6,584 shares of the medical instruments supplier’s stock worth $2,267,000 after purchasing an additional 2,509 shares during the period. 94.01% of the stock is currently owned by institutional investors and hedge funds.

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.