Waters (NYSE:WAT) Given New $385.00 Price Target at Wells Fargo & Company

Waters (NYSE:WAT) had its price target hoisted by equities research analysts at Wells Fargo & Company from $315.00 to $385.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 5.20% from the stock’s current price.

A number of other analysts have also issued reports on WAT. JPMorgan Chase & Co. boosted their price target on Waters from $300.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Robert W. Baird decreased their target price on Waters from $374.00 to $352.00 and set an “outperform” rating for the company in a research report on Wednesday, July 16th. Jefferies Financial Group set a $385.00 price target on Waters and gave the stock a “buy” rating in a research report on Monday, August 4th. Scotiabank restated a “sector outperform” rating and issued a $465.00 price objective on shares of Waters in a report on Friday, July 11th. Finally, Deutsche Bank Aktiengesellschaft set a $315.00 price objective on shares of Waters and gave the stock a “hold” rating in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $380.92.

Waters Trading Down 0.4%

Shares of NYSE:WAT traded down $1.36 on Wednesday, hitting $365.98. 138,955 shares of the company’s stock were exchanged, compared to its average volume of 630,641. The stock has a market capitalization of $21.78 billion, a price-to-earnings ratio of 33.00, a price-to-earnings-growth ratio of 3.19 and a beta of 1.11. Waters has a 12 month low of $275.05 and a 12 month high of $423.56. 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 business’s 50 day simple moving average is $319.11 and its two-hundred day simple moving average is $325.09.

Waters (NYSE:WAT) last posted its quarterly earnings results on Thursday, May 19th. The medical instruments supplier reported $2.29 EPS for the quarter. The company had revenue of $608.55 million for the quarter. Waters had a net margin of 21.71% and a return on equity of 38.60%. Analysts anticipate that Waters will post 12.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Waters

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Swedbank AB lifted its stake in Waters by 25.8% during the 2nd quarter. Swedbank AB now owns 40,526 shares of the medical instruments supplier’s stock valued at $14,145,000 after acquiring an additional 8,305 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Waters by 5.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 530,697 shares of the medical instruments supplier’s stock worth $195,599,000 after acquiring an additional 28,018 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in shares of Waters by 7.0% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 22,933 shares of the medical instruments supplier’s stock worth $8,005,000 after purchasing an additional 1,500 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Waters in the 1st quarter valued at about $1,244,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Waters by 12.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,021 shares of the medical instruments supplier’s stock worth $2,800,000 after buying an additional 896 shares during the last quarter. 94.01% of the stock is 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.