Waters Corporation (WAT) Downgraded by Cleveland Research
Cleveland Research cut shares of Waters Corporation (NYSE:WAT) from a buy rating to a neutral rating in a research report sent to investors on Monday, MarketBeat.com reports.
A number of other equities research analysts have also recently commented on the stock. Morgan Stanley reaffirmed an underweight rating and set a $192.00 price objective (up previously from $183.00) on shares of Waters Corporation in a research note on Friday, October 6th. Goldman Sachs Group, Inc. (The) began coverage on shares of Waters Corporation in a research note on Tuesday, September 26th. They set a hold rating and a $180.00 price objective on the stock. Jefferies Group LLC reaffirmed a hold rating and set a $175.00 price objective on shares of Waters Corporation in a research note on Thursday, August 31st. BidaskClub raised shares of Waters Corporation from a buy rating to a strong-buy rating in a research note on Wednesday, August 16th. Finally, Zacks Investment Research raised shares of Waters Corporation from a hold rating to a buy rating and set a $194.00 price objective on the stock in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Waters Corporation has an average rating of Hold and a consensus target price of $186.25.
Shares of Waters Corporation (NYSE:WAT) opened at 185.80 on Monday. The company has a market capitalization of $14.83 billion, a price-to-earnings ratio of 28.00 and a beta of 0.81. The company’s 50-day moving average is $183.65 and its 200 day moving average is $177.21. Waters Corporation has a 12 month low of $133.35 and a 12 month high of $190.39.
Waters Corporation (NYSE:WAT) last issued its quarterly earnings data on Tuesday, July 25th. The medical instruments supplier reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.05. The business had revenue of $558.30 million for the quarter, compared to analysts’ expectations 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 was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $1.58 EPS. On average, equities research analysts anticipate that Waters Corporation will post $7.39 earnings per share for the current year.
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In related news, SVP Rohit Khanna sold 18,400 shares of Waters Corporation stock in a transaction 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 sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher A. Kuebler sold 3,500 shares of Waters Corporation stock in a transaction 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 sale, the director now directly owns 17,849 shares in the company, valued at approximately $3,206,929.83. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. UBS Asset Management Americas Inc. boosted its stake in Waters Corporation by 46.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 374,472 shares of the medical instruments supplier’s stock worth $68,843,000 after purchasing an additional 119,130 shares during the last quarter. Aviva PLC boosted its stake in Waters Corporation by 0.9% during the 2nd quarter. Aviva PLC now owns 47,903 shares of the medical instruments supplier’s stock worth $8,806,000 after purchasing an additional 420 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in Waters Corporation during the 2nd quarter worth $3,230,000. BlackRock Inc. boosted its stake in Waters Corporation by 3.1% during the 2nd quarter. BlackRock Inc. now owns 5,515,322 shares of the medical instruments supplier’s stock worth $1,013,936,000 after purchasing an additional 165,611 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Waters Corporation by 6.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 263,764 shares of the medical instruments supplier’s stock worth $48,491,000 after purchasing an additional 16,108 shares during the last quarter. 91.00% of the stock is currently owned by 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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