Waters (NYSE:WAT) Price Target Cut to $410.00 by Analysts at Bank of America

Waters (NYSE:WAT) had its price objective lowered by Bank of America from $430.00 to $410.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the medical instruments supplier’s stock.

WAT has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their target price on shares of Waters from $340.00 to $380.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Barclays raised Waters from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $360.00 to $415.00 in a research report on Monday. Cfra set a $389.00 price objective on Waters in a research report on Thursday, October 17th. TD Cowen upped their target price on Waters from $363.00 to $410.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company raised their price target on Waters from $380.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Waters has an average rating of “Hold” and an average target price of $390.40.

Waters Stock Down 0.6 %

NYSE:WAT opened at $379.45 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.02 and a quick ratio of 1.38. Waters has a 1-year low of $279.24 and a 1-year high of $423.56. The company has a 50-day moving average of $390.13 and a 200 day moving average of $363.96. The firm has a market cap of $22.53 billion, a PE ratio of 36.21, a price-to-earnings-growth ratio of 7.37 and a beta of 1.01.

Waters (NYSE:WAT) last announced its quarterly earnings results on Wednesday, February 12th. The medical instruments supplier reported $4.10 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.08. Waters had a net margin of 21.43% and a return on equity of 49.93%. As a group, research analysts anticipate that Waters will post 11.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Marshall Wace LLP grew its position in Waters by 438.0% during the 4th quarter. Marshall Wace LLP now owns 303,076 shares of the medical instruments supplier’s stock worth $112,435,000 after purchasing an additional 246,738 shares during the period. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Waters in the fourth quarter worth about $376,000. Reynders McVeigh Capital Management LLC acquired a new stake in Waters during the fourth quarter worth about $202,000. Sagespring Wealth Partners LLC purchased a new position in Waters during the fourth quarter valued at approximately $225,000. Finally, Townsquare Capital LLC lifted its holdings in Waters by 95.9% in the fourth quarter. Townsquare Capital LLC now owns 1,244 shares of the medical instruments supplier’s stock valued at $462,000 after acquiring an additional 609 shares during the period. Hedge funds and other 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.