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

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

Wall Street Analysts Forecast Growth

WAT has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Waters from $310.00 to $325.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Scotiabank started coverage on shares of Waters in a report on Monday, December 23rd. They set a “sector perform” rating and a $430.00 price objective on the stock. Stifel Nicolaus increased their target price on shares of Waters from $332.00 to $360.00 and gave the company a “hold” rating in a report on Monday, November 4th. Jefferies Financial Group upgraded shares of Waters from a “hold” rating to a “buy” rating and boosted their price target for the stock from $355.00 to $415.00 in a report on Tuesday, October 8th. Finally, Wells Fargo & Company upped their price objective on shares of Waters from $380.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Waters presently has a consensus rating of “Hold” and a consensus price target of $384.71.

Waters Trading Down 0.4 %

The company has a market cap of $23.98 billion, a PE ratio of 38.54, a price-to-earnings-growth ratio of 6.66 and a beta of 1.01. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.14. The firm has a fifty day moving average of $378.03 and a two-hundred day moving average of $348.89.

Waters (NYSE:WAT) last announced its quarterly earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, beating 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 company had revenue of $740.30 million for the quarter, compared to analysts’ expectations of $712.99 million. During the same period in the prior year, the company posted $2.84 EPS. Waters’s revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts predict that Waters Co. will post 11.79 EPS for the current year.

Hedge Funds Weigh In On Waters

Hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its stake in Waters by 1.9% in the 3rd quarter. State Street Corp now owns 2,577,733 shares of the medical instruments supplier’s stock worth $927,700,000 after purchasing an additional 49,194 shares during the period. Geode Capital Management LLC boosted its position in shares of Waters by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,416,683 shares of the medical instruments supplier’s stock valued at $508,123,000 after acquiring an additional 16,703 shares during the period. Janus Henderson Group PLC grew its stake in Waters by 0.7% during the third quarter. Janus Henderson Group PLC now owns 885,593 shares of the medical instruments supplier’s stock valued at $318,717,000 after acquiring an additional 6,256 shares in the last quarter. Van ECK Associates Corp increased its holdings in Waters by 1.0% during the 3rd quarter. Van ECK Associates Corp now owns 659,539 shares of the medical instruments supplier’s stock worth $219,811,000 after acquiring an additional 6,647 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Waters by 70.7% during the 3rd quarter. Principal Financial Group Inc. now owns 656,019 shares of the medical instruments supplier’s stock worth $236,095,000 after acquiring an additional 271,804 shares during the period. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

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.