Waters (NYSE:WAT) Sets New 52-Week High – Here’s What Happened

Waters Co. (NYSE:WAT) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $384.99 and last traded at $377.62, with a volume of 343434 shares trading hands. The stock had previously closed at $323.11.

Analyst Ratings Changes

WAT has been the subject of several recent research reports. Wells Fargo & Company assumed coverage on Waters in a research report on Tuesday, August 27th. They set an “overweight” rating and a $380.00 price objective for the company. Jefferies Financial Group raised shares of Waters from a “hold” rating to a “buy” rating and boosted their price objective for the company from $355.00 to $415.00 in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Waters from $330.00 to $310.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. The Goldman Sachs Group raised shares of Waters to a “hold” rating in a report on Wednesday, July 31st. Finally, TD Cowen upped their price objective on Waters from $325.00 to $363.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waters currently has a consensus rating of “Hold” and a consensus target price of $342.58.

Waters Stock Up 15.4 %

The firm has a market cap of $22.13 billion, a PE ratio of 37.61, a P/E/G ratio of 6.42 and a beta of 0.95. The company has a current ratio of 2.10, a quick ratio of 1.42 and a debt-to-equity ratio of 1.42. The business’s 50-day simple moving average is $341.42 and its 200 day simple moving average is $324.75.

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

Institutional Trading of Waters

Institutional investors have recently made changes to their positions in the business. Itau Unibanco Holding S.A. purchased a new stake in Waters in the second quarter valued at about $33,000. Blue Trust Inc. lifted 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 acquiring an additional 78 shares during the period. TFC Financial Management Inc. boosted its holdings in Waters by 19,900.0% during the second quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier’s stock worth $58,000 after buying an additional 199 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Waters during the 2nd quarter valued at about $59,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Waters in the first quarter valued at approximately $72,000. 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.