Waters Corporation (WAT) Earns Underweight Rating from Morgan Stanley
Waters Corporation (NYSE:WAT)‘s stock had its “underweight” rating restated by analysts at Morgan Stanley in a note issued to investors on Friday. They presently have a $192.00 price target on the medical instruments supplier’s stock, up from their prior price target of $183.00. Morgan Stanley’s target price suggests a potential upside of 3.29% from the stock’s previous close.
A number of other analysts have also recently weighed in on the stock. Jefferies Group LLC restated a “hold” rating and set a $170.00 target price on shares of Waters Corporation in a report on Friday, July 14th. Bank of America Corporation restated a “neutral” rating and set a $192.00 target price (up from $180.00) on shares of Waters Corporation in a report on Friday, July 21st. Deutsche Bank AG cut shares of Waters Corporation from a “buy” rating to a “hold” rating and raised their target price for the stock from $183.00 to $194.00 in a report on Monday, July 10th. Cowen and Company restated a “hold” rating and set a $190.00 target price on shares of Waters Corporation in a report on Friday, July 14th. Finally, BidaskClub cut shares of Waters Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $186.25.
Shares of Waters Corporation (NYSE WAT) traded up 1.05% during midday trading on Friday, hitting $185.88. The stock had a trading volume of 341,226 shares. The company has a market cap of $14.84 billion, a P/E ratio of 28.02 and a beta of 0.81. Waters Corporation has a one year low of $133.35 and a one year high of $190.39. The firm has a 50 day moving average of $182.99 and a 200-day moving average of $176.15.
Waters Corporation (NYSE:WAT) last posted its quarterly earnings data on Tuesday, July 25th. The medical instruments supplier reported $1.76 EPS for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.05. The business had revenue of $558.30 million for the quarter, compared to analyst estimates of $553.22 million. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the business earned $1.58 earnings per share. On average, analysts forecast that Waters Corporation will post $7.39 earnings per share for the current fiscal year.
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In related news, SVP Rohit Khanna sold 18,400 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $185.78, for a total value of $3,418,352.00. Following the completion of the transaction, the senior vice president now owns 22,477 shares of the company’s stock, valued at approximately $4,175,777.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher A. Kuebler sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $179.67, for a total transaction of $628,845.00. Following the completion of the transaction, the director now directly owns 17,849 shares of the company’s stock, valued at approximately $3,206,929.83. The disclosure for this sale can be found here. Company insiders own 5.07% of the company’s stock.
A number of institutional investors have recently bought and sold shares of WAT. BlackRock Inc. boosted its stake in Waters Corporation by 2,810.7% in the 1st quarter. BlackRock Inc. now owns 5,349,711 shares of the medical instruments supplier’s stock worth $836,212,000 after purchasing an additional 5,165,917 shares during the period. Janus Henderson Group PLC boosted its stake in Waters Corporation by 20,670.6% in the 2nd quarter. Janus Henderson Group PLC now owns 1,929,793 shares of the medical instruments supplier’s stock worth $354,773,000 after purchasing an additional 1,920,502 shares during the period. Koch Industries Inc. boosted its stake in Waters Corporation by 36,932.0% in the 2nd quarter. Koch Industries Inc. now owns 534,742 shares of the medical instruments supplier’s stock worth $532,000 after purchasing an additional 533,298 shares during the period. Fundsmith LLP boosted its stake in Waters Corporation by 11.7% in the 2nd quarter. Fundsmith LLP now owns 3,833,955 shares of the medical instruments supplier’s stock worth $704,834,000 after purchasing an additional 401,420 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Waters Corporation by 3,735.4% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 373,950 shares of the medical instruments supplier’s stock worth $58,452,000 after purchasing an additional 364,200 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.
About Waters Corporation
Waters Corporation is an analytical instrument manufacturer. The Company operates through two segments: Waters and TA. It designs, manufactures, sells and services high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans.
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