Waters (NYSE:WAT) Upgraded to Buy by Jefferies Financial Group

Jefferies Financial Group upgraded shares of Waters (NYSE:WAT) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, MarketBeat reports. The brokerage currently has $415.00 price objective on the medical instruments supplier’s stock, up from their prior price objective of $355.00.

WAT has been the topic of several other research reports. Leerink Partners raised shares of Waters from a market perform rating to an outperform rating and lifted their target price for the company from $325.00 to $375.00 in a report on Thursday, August 1st. Barclays boosted their target price on Waters from $275.00 to $300.00 and gave the stock an underweight rating in a research report on Thursday, August 1st. Wells Fargo & Company assumed coverage on Waters in a research note on Tuesday, August 27th. They issued an overweight rating and a $380.00 price target on the stock. Evercore ISI increased their price objective on Waters from $335.00 to $355.00 and gave the stock an in-line rating in a research report on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Waters from $330.00 to $310.00 and set a hold rating for the company in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $335.64.

Waters Stock Performance

Shares of WAT stock opened at $358.78 on Tuesday. The stock’s 50-day moving average price is $339.49 and its 200 day moving average price is $324.29. The company has a quick ratio of 1.42, a current ratio of 2.10 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $21.28 billion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 6.93 and a beta of 0.95. Waters has a 52-week low of $231.90 and a 52-week high of $367.21.

Waters (NYSE:WAT) last released its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported $2.63 EPS for the quarter, topping the consensus estimate of $2.55 by $0.08. Waters had a return on equity of 56.81% and a net margin of 20.71%. The business had revenue of $709.00 million during the quarter, compared to analysts’ expectations of $700.09 million. During the same quarter in the prior year, the business earned $2.80 earnings per share. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities research analysts forecast that Waters will post 11.6 EPS for the current year.

Institutional Investors Weigh In On Waters

A number of large investors have recently added to or reduced their stakes in the business. Indiana Trust & Investment Management CO acquired a new stake in shares of Waters in the first quarter valued at approximately $25,000. Riverview Trust Co acquired a new stake in Waters during the 1st quarter valued at $28,000. Itau Unibanco Holding S.A. purchased a new position in Waters during the second quarter worth $33,000. Blue Trust Inc. raised its holdings in shares of Waters by 190.2% in the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock worth $35,000 after acquiring an additional 78 shares during the last quarter. Finally, TFC Financial Management Inc. lifted its position in shares of Waters by 19,900.0% in the second quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier’s stock valued at $58,000 after acquiring an additional 199 shares in the last quarter. 94.01% of the stock is owned by institutional investors and hedge funds.

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.