Waters (NYSE:WAT) Hits New 1-Year High – Here’s What Happened

Shares of Waters Co. (NYSE:WAT) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $397.02 and last traded at $389.97, with a volume of 49293 shares changing hands. The stock had previously closed at $390.35.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein upped their target price on shares of Waters from $345.00 to $360.00 and gave the company a “market perform” rating in a report on Monday, November 4th. Stifel Nicolaus upped their target price on shares of Waters from $332.00 to $360.00 and gave the company a “hold” rating in a report on Monday, November 4th. Barclays upped their target price on shares of Waters from $330.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Waters from $310.00 to $325.00 and gave the company a “hold” rating in a report on Monday, November 4th. Finally, Evercore ISI increased their price target on shares of Waters from $335.00 to $355.00 and gave the company an “in-line” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $365.85.

Waters Price Performance

The company’s fifty day moving average price is $364.35 and its 200 day moving average price is $335.11. The company has a market capitalization of $22.88 billion, a P/E ratio of 37.25, a PEG ratio of 7.03 and a beta of 1.01. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 1.14.

Waters (NYSE:WAT) last announced its earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, topping the consensus estimate of $2.68 by $0.25. Waters had a net margin of 21.43% and a return on equity of 49.93%. The company had revenue of $740.30 million for the quarter, compared to analysts’ expectations of $712.99 million. During the same period last year, the firm earned $2.84 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts forecast that Waters Co. will post 11.79 EPS for the current year.

Institutional Trading of Waters

Several large investors have recently made changes to their positions in the company. Franklin Resources Inc. boosted its position in Waters by 74.5% in the third quarter. Franklin Resources Inc. now owns 70,507 shares of the medical instruments supplier’s stock valued at $25,189,000 after buying an additional 30,101 shares in the last quarter. Tidal Investments LLC boosted its position in Waters by 0.9% in the third quarter. Tidal Investments LLC now owns 3,998 shares of the medical instruments supplier’s stock valued at $1,439,000 after buying an additional 36 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Waters in the third quarter valued at approximately $100,000. Sanctuary Advisors LLC boosted its position in Waters by 25.2% in the third quarter. Sanctuary Advisors LLC now owns 2,433 shares of the medical instruments supplier’s stock valued at $908,000 after buying an additional 490 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in Waters by 0.3% in the third quarter. Toronto Dominion Bank now owns 26,303 shares of the medical instruments supplier’s stock valued at $9,466,000 after buying an additional 69 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.