Waters (NYSE:WAT) Sees Strong Trading Volume Following Earnings Beat

Waters Co. (NYSE:WAT) shares saw strong trading volume on Wednesday following a better than expected earnings announcement. 423,631 shares traded hands during mid-day trading, an increase of 4% from the previous session’s volume of 407,499 shares.The stock last traded at $372.11 and had previously closed at $405.29.

The medical instruments supplier reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. Waters had a return on equity of 49.93% and a net margin of 21.43%.

Analyst Ratings Changes

Several analysts recently commented on WAT shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Waters from $310.00 to $325.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Bank of America boosted their price objective on Waters from $400.00 to $430.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Sanford C. Bernstein upgraded Waters from a “market perform” rating to an “outperform” rating and set a $430.00 price objective on the stock in a research report on Friday, January 10th. Cfra set a $389.00 price objective on Waters in a research report on Thursday, October 17th. Finally, Stifel Nicolaus boosted their price objective on Waters from $332.00 to $360.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Ten investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $388.64.

Institutional Investors Weigh In On Waters

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WAT. Kennebec Savings Bank bought a new stake in shares of Waters in the 3rd quarter valued at approximately $33,000. Bank of Jackson Hole Trust bought a new stake in shares of Waters in the 4th quarter valued at approximately $34,000. Fortitude Family Office LLC lifted its stake in shares of Waters by 235.7% in the 4th quarter. Fortitude Family Office LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 66 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Waters by 129.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 53 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Waters in the 3rd quarter valued at approximately $35,000. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Waters Price Performance

The firm has a market capitalization of $21.99 billion, a P/E ratio of 35.34, a price-to-earnings-growth ratio of 7.37 and a beta of 1.01. The firm has a 50 day moving average price of $390.34 and a 200-day moving average price of $363.72. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.14.

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.