Waters (NYSE:WAT) Upgraded by Robert W. Baird to Outperform Rating

Waters (NYSE:WAT) was upgraded by stock analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Wednesday,Finviz reports. The brokerage presently has a $407.00 price objective on the medical instruments supplier’s stock, up from their prior price objective of $396.00. Robert W. Baird’s price target would suggest a potential upside of 10.53% from the company’s current price.

Several other analysts also recently issued reports on the company. UBS Group lifted their price target on Waters from $405.00 to $410.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. StockNews.com lowered shares of Waters from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Barclays raised shares of Waters from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $360.00 to $415.00 in a research report on Monday, February 10th. JPMorgan Chase & Co. lifted their target price on Waters from $380.00 to $390.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Finally, Sanford C. Bernstein raised Waters from a “market perform” rating to an “outperform” rating and set a $430.00 price target for the company in a research note on Friday, January 10th. Ten research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $397.40.

Waters Stock Down 1.4 %

Shares of NYSE WAT opened at $368.21 on Wednesday. Waters has a 52-week low of $279.24 and a 52-week high of $423.56. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.65 and a current ratio of 0.94. The stock has a market cap of $21.88 billion, a P/E ratio of 34.38, a P/E/G ratio of 3.79 and a beta of 1.00. The firm has a 50 day moving average price of $389.56 and a 200 day moving average price of $372.13.

Waters (NYSE:WAT) last announced its quarterly earnings results on Wednesday, February 12th. The medical instruments supplier reported $4.10 earnings per share (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%. Analysts expect that Waters will post 12.86 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in WAT. Aster Capital Management DIFC Ltd acquired a new stake in shares of Waters during the 4th quarter worth approximately $28,000. Bank of Jackson Hole Trust bought a new stake in Waters in the fourth quarter valued at $34,000. Fortitude Family Office LLC boosted its position in shares of Waters by 235.7% during the 4th quarter. Fortitude Family Office LLC now owns 94 shares of the medical instruments supplier’s stock worth $35,000 after purchasing an additional 66 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Waters by 129.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after buying an additional 53 shares during the period. Finally, Murphy & Mullick Capital Management Corp bought a new position in Waters in the fourth quarter worth approximately $42,000. 94.01% of the stock is owned by institutional investors.

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.