Waters (NYSE:WAT) Raised to Outperform at Sanford C. Bernstein

Waters (NYSE:WAT) was upgraded by equities research analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports. The firm currently has a $430.00 price target on the medical instruments supplier’s stock. Sanford C. Bernstein’s price target would suggest a potential upside of 15.06% from the stock’s current price.

A number of other research firms have also commented on WAT. JPMorgan Chase & Co. raised their price objective on shares of Waters from $340.00 to $380.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Jefferies Financial Group raised Waters from a “hold” rating to a “buy” rating and upped their price target for the company from $355.00 to $415.00 in a research report on Tuesday, October 8th. Cfra set a $389.00 target price on Waters in a research note on Thursday, October 17th. Stifel Nicolaus increased their price target on shares of Waters from $332.00 to $360.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Bank of America upped their price objective on shares of Waters from $400.00 to $430.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Waters has a consensus rating of “Hold” and an average price target of $384.71.

Waters Stock Down 0.9 %

WAT opened at $373.72 on Friday. Waters has a 12 month low of $279.24 and a 12 month high of $397.02. The stock’s 50 day moving average price is $376.97 and its 200 day moving average price is $345.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.02 and a quick ratio of 1.38. The stock has a market cap of $22.19 billion, a P/E ratio of 35.66, a P/E/G ratio of 6.92 and a beta of 1.01.

Waters (NYSE:WAT) last released its earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.25. The firm had revenue of $740.30 million for the quarter, compared to analyst estimates of $712.99 million. Waters had a return on equity of 49.93% and a net margin of 21.43%. Waters’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.84 earnings per share. As a group, research analysts predict that Waters will post 11.79 earnings per share for the current year.

Hedge Funds Weigh In On Waters

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kennebec Savings Bank bought a new stake in shares of Waters during the 3rd quarter worth $33,000. Fortitude Family Office LLC boosted its holdings in Waters by 235.7% during the fourth quarter. Fortitude Family Office LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after acquiring an additional 66 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Waters in the third quarter valued at about $35,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Waters in the second quarter valued at about $33,000. Finally, Versant Capital Management Inc increased its stake in shares of Waters by 669.2% in the fourth quarter. Versant Capital Management Inc now owns 200 shares of the medical instruments supplier’s stock worth $74,000 after purchasing an additional 174 shares during the period. Institutional investors and hedge funds 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.