JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Waters (NYSE:WAT) Stock

Waters (NYSE:WAT) had its target price boosted by stock analysts at JPMorgan Chase & Co. from $340.00 to $380.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the medical instruments supplier’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 1.83% from the stock’s previous close.

Several other equities research analysts have also commented on WAT. Leerink Partnrs upgraded shares of Waters from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Leerink Partners raised Waters from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $325.00 to $375.00 in a report on Thursday, August 1st. Evercore ISI raised their price target on Waters from $335.00 to $355.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group upgraded Waters to a “hold” rating in a research note on Wednesday, July 31st. Finally, Cfra set a $389.00 target price on shares of Waters in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $365.85.

Waters Stock Down 0.1 %

Waters stock opened at $387.09 on Monday. The stock has a market cap of $22.98 billion, a PE ratio of 36.89, a P/E/G ratio of 7.59 and a beta of 0.97. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.83 and a quick ratio of 0.55. The stock’s fifty day moving average is $343.05 and its two-hundred day moving average is $326.09. Waters has a 1-year low of $241.95 and a 1-year high of $391.00.

Waters (NYSE:WAT) last posted its earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.25. The firm had revenue of $740.30 million during the quarter, compared to analysts’ expectations of $712.99 million. Waters had a return on equity of 49.93% and a net margin of 21.43%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.84 earnings per share. On average, sell-side analysts expect that Waters will post 11.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Waters

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in shares of Waters by 70.7% in the 3rd quarter. Principal Financial Group Inc. now owns 656,019 shares of the medical instruments supplier’s stock valued at $236,095,000 after buying an additional 271,804 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Waters by 34.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 393,890 shares of the medical instruments supplier’s stock worth $141,757,000 after purchasing an additional 100,811 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Waters by 21.0% during the second quarter. Dimensional Fund Advisors LP now owns 448,304 shares of the medical instruments supplier’s stock worth $130,053,000 after buying an additional 77,951 shares in the last quarter. Applied Finance Capital Management LLC grew its position in Waters by 3,627.0% during the third quarter. Applied Finance Capital Management LLC now owns 68,987 shares of the medical instruments supplier’s stock worth $24,828,000 after buying an additional 67,136 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Waters by 8.6% in the second quarter. Van ECK Associates Corp now owns 652,892 shares of the medical instruments supplier’s stock valued at $189,417,000 after buying an additional 51,853 shares in the last quarter. 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.