Waters (NYSE:WAT) Stock Price Up 10.3% on Strong Earnings

Waters Corporation (NYSE:WAT) shot up 10.3% during mid-day trading on Tuesday following a stronger than expected earnings report. The company traded as high as $382.02 and last traded at $381.2470. 286,877 shares were traded during mid-day trading, a decline of 54% from the average session volume of 626,730 shares. The stock had previously closed at $345.59.

The medical instruments supplier reported $2.29 EPS for the quarter. Waters had a return on equity of 38.60% and a net margin of 21.71%.The firm had revenue of $608.55 million during the quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on WAT shares. Rothschild & Co Redburn started coverage on Waters in a research note on Wednesday, October 8th. They set a “buy” rating and a $390.00 price objective on the stock. Robert W. Baird decreased their price objective on Waters from $374.00 to $352.00 and set an “outperform” rating on the stock in a report on Wednesday, July 16th. UBS Group reaffirmed a “neutral” rating on shares of Waters in a report on Tuesday, July 15th. Jefferies Financial Group set a $385.00 target price on Waters and gave the company a “buy” rating in a research report on Monday, August 4th. Finally, Redburn Partners set a $390.00 target price on Waters in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $375.54.

Institutional Investors Weigh In On Waters

Several large investors have recently added to or reduced their stakes in WAT. Olde Wealth Management LLC acquired a new stake in Waters during the first quarter worth approximately $25,000. Root Financial Partners LLC bought a new position in Waters in the third quarter worth approximately $26,000. Zions Bancorporation National Association UT bought a new position in Waters in the first quarter worth approximately $28,000. IFP Advisors Inc boosted its holdings in Waters by 118.9% in the first quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier’s stock worth $30,000 after acquiring an additional 44 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Waters in the first quarter worth approximately $41,000. Institutional investors and hedge funds own 94.01% of the company’s stock.

Waters Stock Up 9.5%

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.75 and a quick ratio of 1.22. The stock has a fifty day moving average price of $317.68 and a two-hundred day moving average price of $324.75. The company has a market cap of $22.52 billion, a P/E ratio of 34.13, a price-to-earnings-growth ratio of 3.19 and a beta of 1.04.

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.