Scotiabank Initiates Coverage on Waters (NYSE:WAT)

Investment analysts at Scotiabank started coverage on shares of Waters (NYSE:WAT) in a note issued to investors on Monday, MarketBeat.com reports. The brokerage set a “sector perform” rating and a $430.00 price target on the medical instruments supplier’s stock. Scotiabank’s target price would suggest a potential upside of 15.24% from the company’s previous close.

WAT has been the topic of a number of other reports. Wells Fargo & Company lifted their price objective on shares of Waters from $380.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. boosted their price target on shares of Waters from $340.00 to $380.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Bank of America increased their price objective on shares of Waters from $400.00 to $430.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Stifel Nicolaus boosted their target price on Waters from $332.00 to $360.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, Cfra set a $389.00 price target on Waters in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $379.71.

Waters Stock Up 0.9 %

Waters stock opened at $373.15 on Monday. The firm has a market capitalization of $22.16 billion, a price-to-earnings ratio of 35.61, a price-to-earnings-growth ratio of 6.92 and a beta of 1.01. The firm’s fifty day moving average price is $367.77 and its two-hundred day moving average price is $339.24. Waters has a 1-year low of $279.24 and a 1-year high of $397.02. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.14.

Waters (NYSE:WAT) last announced its quarterly earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.25. The business had revenue of $740.30 million for the quarter, compared to analysts’ expectations of $712.99 million. Waters had a net margin of 21.43% and a return on equity of 49.93%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.84 EPS. On average, equities research analysts predict that Waters will post 11.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kennebec Savings Bank purchased a new stake in Waters during the third quarter valued at about $33,000. Ashton Thomas Securities LLC purchased a new stake in shares of Waters during the 3rd quarter valued at approximately $35,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Waters during the 2nd quarter valued at approximately $33,000. Federated Hermes Inc. purchased a new position in Waters in the 2nd quarter valued at approximately $59,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Waters during the 3rd quarter valued at $100,000. Institutional investors own 94.01% of the company’s stock.

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.