Waters (NYSE:WAT) Price Target Cut to $300.00 by Analysts at Evercore ISI

Waters (NYSE:WAT) had its price target lowered by equities research analysts at Evercore ISI from $320.00 to $300.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the medical instruments supplier’s stock. Evercore ISI’s price target would suggest a potential upside of 4.38% from the company’s previous close.

A number of other research firms have also issued reports on WAT. Robert W. Baird reduced their price target on Waters from $319.00 to $312.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Jefferies Financial Group began coverage on Waters in a research report on Monday, June 3rd. They set a “hold” rating and a $320.00 target price on the stock. TD Cowen raised their target price on Waters from $350.00 to $358.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Stifel Nicolaus raised their target price on Waters from $330.00 to $332.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Finally, Barclays cut their target price on Waters from $295.00 to $275.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $301.20.

Waters Price Performance

WAT stock opened at $287.40 on Tuesday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.94 and a quick ratio of 1.30. The firm has a market capitalization of $17.05 billion, a P/E ratio of 28.20, a P/E/G ratio of 4.62 and a beta of 0.95. The business’s 50-day moving average is $315.23 and its two-hundred day moving average is $323.34. Waters has a 1 year low of $231.90 and a 1 year high of $367.21.

Waters (NYSE:WAT) last posted its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.11. The company had revenue of $636.80 million for the quarter, compared to analyst estimates of $635.57 million. Waters had a return on equity of 66.59% and a net margin of 20.75%. Waters’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.49 EPS. Analysts anticipate that Waters will post 11.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard H. Fearon purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were purchased at an average price of $332.90 per share, for a total transaction of $332,900.00. Following the purchase, the director now directly owns 1,653 shares of the company’s stock, valued at approximately $550,283.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Richard H. Fearon bought 1,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were bought at an average cost of $332.90 per share, for a total transaction of $332,900.00. Following the purchase, the director now owns 1,653 shares of the company’s stock, valued at approximately $550,283.70. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Christopher A. Kuebler sold 4,000 shares of Waters stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total value of $1,446,560.00. Following the completion of the transaction, the director now owns 14,716 shares in the company, valued at $5,321,894.24. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Indiana Trust & Investment Management CO purchased a new position in shares of Waters in the 1st quarter valued at approximately $25,000. Riverview Trust Co purchased a new position in shares of Waters in the 1st quarter valued at approximately $28,000. Exchange Traded Concepts LLC purchased a new position in shares of Waters in the 4th quarter valued at approximately $35,000. VisionPoint Advisory Group LLC boosted its stake in shares of Waters by 300.0% in the third quarter. VisionPoint Advisory Group LLC now owns 144 shares of the medical instruments supplier’s stock valued at $39,000 after buying an additional 108 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Waters in the fourth quarter valued at approximately $39,000. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

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.