Waters (NYSE:WAT) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Waters (NYSE:WAT) from a buy rating to a hold rating in a research note published on Tuesday morning.

Other equities research analysts have also recently issued reports about the company. Scotiabank upgraded Waters from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $430.00 to $450.00 in a research note on Thursday, February 13th. TD Cowen boosted their target price on shares of Waters from $363.00 to $410.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Stifel Nicolaus increased their target price on shares of Waters from $332.00 to $360.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Sanford C. Bernstein raised shares of Waters from a “market perform” rating to an “outperform” rating and set a $430.00 price target on the stock in a report on Friday, January 10th. Finally, Bank of America reduced their price objective on Waters from $430.00 to $410.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Eleven analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $390.40.

Waters Stock Performance

Shares of WAT stock opened at $373.26 on Tuesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.94 and a quick ratio of 0.65. The firm has a 50-day moving average of $389.86 and a 200-day moving average of $367.00. Waters has a one year low of $279.24 and a one year high of $423.56. The company has a market cap of $22.16 billion, a P/E ratio of 34.85, a P/E/G ratio of 3.79 and a beta of 1.01.

Waters (NYSE:WAT) last posted its quarterly earnings data on Wednesday, February 12th. The medical instruments supplier reported $4.10 EPS for the quarter, beating the consensus estimate of $4.02 by $0.08. Waters had a net margin of 21.56% and a return on equity of 46.31%. Equities research analysts forecast that Waters will post 12.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Waters

Hedge funds have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. bought a new position in Waters in the 4th quarter valued at $223,000. United Advisor Group LLC bought a new stake in Waters during the fourth quarter valued at $328,000. Toronto Dominion Bank grew its position in Waters by 48.0% during the fourth quarter. Toronto Dominion Bank now owns 38,937 shares of the medical instruments supplier’s stock worth $14,443,000 after buying an additional 12,634 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in Waters in the 4th quarter worth about $544,000. Finally, Sunbelt Securities Inc. raised its holdings in shares of Waters by 3,081.8% in the 4th quarter. Sunbelt Securities Inc. now owns 350 shares of the medical instruments supplier’s stock valued at $130,000 after acquiring an additional 339 shares in the last quarter. Hedge funds and other institutional investors own 94.01% of the company’s stock.

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.