Waters Corporation (NYSE:WAT) was downgraded by equities researchers at Cleveland Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday.
A number of other equities analysts also recently weighed in on the stock. Morgan Stanley restated an “underweight” rating and set a $183.00 target price (up from $174.00) on shares of Waters Corporation in a report on Wednesday, July 26th. 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 downgraded shares of Waters Corporation from a “buy” rating to a “hold” rating and boosted their target price for the stock from $183.00 to $194.00 in a report on Monday, July 10th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Waters Corporation has an average rating of “Hold” and a consensus price target of $186.25.
Waters Corporation (NYSE:WAT) opened at 185.01 on Monday. Waters Corporation has a 52 week low of $133.35 and a 52 week high of $190.39. The stock’s 50 day moving average is $183.41 and its 200 day moving average is $177.08. The firm has a market cap of $14.77 billion, a price-to-earnings ratio of 27.88 and a beta of 0.82.
Waters Corporation (NYSE:WAT) last issued its earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.05. The business had revenue of $558.30 million for the quarter, compared to the consensus estimate of $553.22 million. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.58 earnings per share. Equities research analysts expect that Waters Corporation will post $7.39 EPS for the current year.
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In related news, Director Christopher A. Kuebler sold 3,500 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $179.67, for a total value of $628,845.00. Following the transaction, the director now directly owns 17,849 shares in the company, valued at $3,206,929.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Rohit Khanna sold 18,400 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $185.78, for a total transaction of $3,418,352.00. Following the completion of the transaction, the senior vice president now owns 22,477 shares in the company, valued at $4,175,777.06. The disclosure for this sale can be found here. Corporate insiders own 5.07% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Hikari Tsushin Inc. acquired a new position in shares of Waters Corporation in the second quarter valued at about $919,000. USA Financial Portformulas Corp acquired a new position in shares of Waters Corporation in the second quarter valued at about $504,000. Toronto Dominion Bank grew its stake in shares of Waters Corporation by 21.8% in the second quarter. Toronto Dominion Bank now owns 30,653 shares of the medical instruments supplier’s stock valued at $5,635,000 after acquiring an additional 5,495 shares in the last quarter. Advisory Services Network LLC grew its stake in shares of Waters Corporation by 6.0% in the second quarter. Advisory Services Network LLC now owns 1,145 shares of the medical instruments supplier’s stock valued at $210,000 after acquiring an additional 65 shares in the last quarter. Finally, Beaton Management Co. Inc. acquired a new position in shares of Waters Corporation in the second quarter valued at about $607,000. Institutional investors and hedge funds own 91.00% of the company’s stock.
Waters Corporation Company Profile
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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