Waters (NYSE:WAT) Upgraded to Outperform at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of Waters (NYSE:WAT) from a market perform rating to an outperform rating in a report issued on Friday, Marketbeat reports. Sanford C. Bernstein currently has $430.00 price target on the medical instruments supplier’s stock.

Several other analysts have also recently commented on the company. Wells Fargo & Company lifted their price target on Waters from $380.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Barclays boosted their target price on shares of Waters from $330.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price target 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. Cfra set a $389.00 price objective on shares of Waters in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. upped their price objective on Waters from $340.00 to $380.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $384.71.

Waters Stock Performance

Shares of WAT opened at $380.96 on Friday. Waters has a 1 year low of $279.24 and a 1 year high of $397.02. The company’s 50 day simple moving average is $376.97 and its 200 day simple moving average is $345.11. The company has a market capitalization of $22.62 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 6.92 and a beta of 1.01. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.38 and a current ratio of 2.02.

Waters (NYSE:WAT) last issued its quarterly earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.25. The company 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 business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.84 EPS. On average, sell-side analysts predict that Waters will post 11.79 EPS for the current year.

Institutional Investors Weigh In On Waters

Hedge funds have recently modified their holdings of the stock. Summit Trail Advisors LLC raised its stake in shares of Waters by 2.4% during the third quarter. Summit Trail Advisors LLC now owns 1,198 shares of the medical instruments supplier’s stock valued at $431,000 after purchasing an additional 28 shares during the period. OneDigital Investment Advisors LLC increased its stake in Waters by 3.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 851 shares of the medical instruments supplier’s stock worth $306,000 after buying an additional 31 shares during the period. Raymond James Trust N.A. lifted its holdings in Waters by 2.4% in the 3rd quarter. Raymond James Trust N.A. now owns 1,340 shares of the medical instruments supplier’s stock worth $482,000 after buying an additional 32 shares in the last quarter. Johnson Investment Counsel Inc. boosted its position in Waters by 3.2% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,084 shares of the medical instruments supplier’s stock valued at $314,000 after buying an additional 34 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in shares of Waters by 0.9% during the third quarter. Tidal Investments LLC now owns 3,998 shares of the medical instruments supplier’s stock valued at $1,439,000 after acquiring an additional 36 shares in the last quarter. 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.