Waters (NYSE:WAT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Waters (NYSE:WAT) had its price target hoisted by JPMorgan Chase & Co. from $340.00 to $380.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the medical instruments supplier’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 1.83% from the stock’s current price.

Several other equities research analysts have also recently commented on WAT. The Goldman Sachs Group raised Waters to a “hold” rating in a report on Wednesday, July 31st. Cfra set a $389.00 price target on Waters in a report on Thursday, October 17th. Leerink Partnrs raised shares of Waters from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 1st. Jefferies Financial Group raised shares of Waters from a “hold” rating to a “buy” rating and lifted their target price for the stock from $355.00 to $415.00 in a research note on Tuesday, October 8th. Finally, TD Cowen raised their price target on shares of Waters from $325.00 to $363.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $365.85.

Waters Stock Down 0.1 %

Shares of WAT opened at $387.09 on Monday. The stock has a 50 day moving average price of $343.05 and a 200 day moving average price of $326.09. Waters has a one year low of $241.95 and a one year high of $391.00. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.55 and a current ratio of 0.83. The stock has a market capitalization of $22.98 billion, a price-to-earnings ratio of 36.89, a PEG ratio of 7.59 and a beta of 0.97.

Waters (NYSE:WAT) last issued its earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.25. Waters had a net margin of 21.43% and a return on equity of 49.93%. The business had revenue of $740.30 million during the quarter, compared to analysts’ expectations of $712.99 million. During the same period in the prior year, the business earned $2.84 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts forecast that Waters will post 11.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WAT. Itau Unibanco Holding S.A. acquired a new stake in Waters during the 2nd quarter worth approximately $33,000. Kennebec Savings Bank acquired a new stake in shares of Waters in the third quarter valued at $33,000. Blue Trust Inc. boosted its holdings in Waters by 190.2% in the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 78 shares during the period. Ashton Thomas Securities LLC acquired a new position in Waters during the 3rd quarter worth $35,000. Finally, TFC Financial Management Inc. increased its holdings in Waters by 19,900.0% during the 2nd quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier’s stock worth $58,000 after purchasing an additional 199 shares during the period. Hedge funds and other institutional investors own 94.01% of the company’s stock.

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.