Waters (NYSE:WAT) Upgraded to “Buy” at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Waters (NYSE:WAT) from a hold rating to a buy rating in a research note released on Tuesday, MarketBeat reports. They currently have $415.00 price target on the medical instruments supplier’s stock, up from their previous price target of $355.00.

Several other equities research analysts have also issued reports on the stock. Wells Fargo & Company began coverage on shares of Waters in a report on Tuesday, August 27th. They issued an overweight rating and a $380.00 target price for the company. Leerink Partnrs upgraded Waters from a hold rating to a strong-buy rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on Waters from $330.00 to $310.00 and set a hold rating for the company in a report on Thursday, August 1st. Barclays lifted their price objective on shares of Waters from $275.00 to $300.00 and gave the company an underweight rating in a report on Thursday, August 1st. Finally, Evercore ISI upped their target price on shares of Waters from $335.00 to $355.00 and gave the stock an in-line rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $335.64.

Waters Stock Performance

Shares of NYSE:WAT opened at $357.97 on Tuesday. The firm has a fifty day simple moving average of $340.14 and a two-hundred day simple moving average of $324.81. Waters has a 52 week low of $231.90 and a 52 week high of $367.21. 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 $21.23 billion, a P/E ratio of 35.13, a PEG ratio of 7.01 and a beta of 0.95.

Waters (NYSE:WAT) last posted its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.08. The business had revenue of $709.00 million during the quarter, compared to analyst estimates of $700.09 million. Waters had a return on equity of 56.81% and a net margin of 20.71%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the company earned $2.80 EPS. On average, analysts expect that Waters will post 11.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Waters

A number of large investors have recently made changes to their positions in WAT. Oppenheimer & Co. Inc. increased its position in Waters by 2.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 4,508 shares of the medical instruments supplier’s stock valued at $1,484,000 after buying an additional 93 shares in the last quarter. Prudential PLC grew its position in Waters by 20.8% during the 4th quarter. Prudential PLC now owns 2,934 shares of the medical instruments supplier’s stock worth $966,000 after purchasing an additional 505 shares during the last quarter. V Square Quantitative Management LLC increased its stake in Waters by 20.9% during the 4th quarter. V Square Quantitative Management LLC now owns 1,509 shares of the medical instruments supplier’s stock valued at $497,000 after purchasing an additional 261 shares in the last quarter. Virtu Financial LLC acquired a new position in Waters during the 4th quarter valued at approximately $962,000. Finally, Vanguard Group Inc. lifted its stake in shares of Waters by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,837,662 shares of the medical instruments supplier’s stock worth $2,251,163,000 after buying an additional 64,525 shares during the period. 94.01% of the stock is owned by institutional investors and hedge funds.

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.