UBS Group Issues Positive Forecast for Waters (NYSE:WAT) Stock Price

Waters (NYSE:WAT) had its price objective raised by UBS Group from $405.00 to $410.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical instruments supplier’s stock. UBS Group’s price objective would indicate a potential upside of 7.81% from the stock’s previous close.

Several other research firms have also issued reports on WAT. Stifel Nicolaus upped their target price on shares of Waters from $332.00 to $360.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Bank of America reduced their target price on shares of Waters from $430.00 to $410.00 and set a “neutral” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Waters from $310.00 to $325.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Barclays upgraded shares of Waters from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $360.00 to $415.00 in a research report on Monday. Finally, TD Cowen increased their price target on shares of Waters from $363.00 to $410.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $390.07.

Waters Stock Down 0.4 %

WAT traded down $1.60 during trading on Thursday, hitting $380.31. 84,010 shares of the company’s stock were exchanged, compared to its average volume of 429,731. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 1.14. The business’s 50 day moving average is $390.16 and its two-hundred day moving average is $363.86. Waters has a fifty-two week low of $279.24 and a fifty-two week high of $423.56. The stock has a market cap of $22.58 billion, a P/E ratio of 36.29, a PEG ratio of 7.37 and a beta of 1.01.

Waters (NYSE:WAT) last released its quarterly earnings data on Wednesday, February 12th. The medical instruments supplier reported $4.10 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.08. Waters had a net margin of 21.43% and a return on equity of 49.93%. As a group, equities analysts expect that Waters will post 11.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Waters

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WAT. Wealthfront Advisers LLC boosted its position in Waters by 106,144.4% during the fourth quarter. Wealthfront Advisers LLC now owns 3,087,461 shares of the medical instruments supplier’s stock worth $1,145,386,000 after purchasing an additional 3,084,555 shares during the period. Norges Bank purchased a new stake in shares of Waters in the fourth quarter worth about $284,415,000. Madison Investment Advisors LLC purchased a new stake in shares of Waters in the fourth quarter worth about $104,645,000. Principal Financial Group Inc. lifted its holdings in shares of Waters by 70.7% in the third quarter. Principal Financial Group Inc. now owns 656,019 shares of the medical instruments supplier’s stock worth $236,095,000 after buying an additional 271,804 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Waters by 8.7% in the fourth quarter. Alliancebernstein L.P. now owns 2,654,002 shares of the medical instruments supplier’s stock worth $984,582,000 after buying an additional 212,364 shares in the last quarter. 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.