Waters (NYSE:WAT) Given New $350.00 Price Target at Barclays

Waters (NYSE:WAT) had its price objective reduced by equities researchers at Barclays from $400.00 to $350.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the medical instruments supplier’s stock. Barclays‘s target price would suggest a potential upside of 13.76% from the stock’s previous close.

Several other research analysts also recently issued reports on WAT. Bank of America reduced their price objective on Waters from $430.00 to $410.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company boosted their target price on Waters from $415.00 to $420.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Baird R W raised shares of Waters from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 26th. StockNews.com downgraded shares of Waters from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Waters from $380.00 to $390.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $397.25.

Waters Price Performance

Waters stock traded down $28.86 during trading hours on Thursday, hitting $307.66. 194,741 shares of the stock were exchanged, compared to its average volume of 471,810. Waters has a 12 month low of $279.24 and a 12 month high of $423.56. The business’s 50-day moving average is $372.44 and its two-hundred day moving average is $372.68. 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 capitalization of $18.28 billion, a P/E ratio of 28.83, a P/E/G ratio of 3.79 and a beta of 1.04.

Waters (NYSE:WAT) last issued its quarterly earnings data 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 return on equity of 46.31% and a net margin of 21.56%. Equities research analysts expect that Waters will post 12.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Waters

Several large investors have recently modified their holdings of WAT. Aster Capital Management DIFC Ltd acquired a new position in Waters during the fourth quarter worth about $28,000. Bank of Jackson Hole Trust acquired a new position in Waters in the fourth quarter valued at $34,000. Fortitude Family Office LLC boosted its stake in Waters by 235.7% during the fourth quarter. Fortitude Family Office LLC now owns 94 shares of the medical instruments supplier’s stock worth $35,000 after acquiring an additional 66 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in Waters by 129.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 53 shares in the last quarter. Finally, Whipplewood Advisors LLC boosted its position in shares of Waters by 5,200.0% during the 1st quarter. Whipplewood Advisors LLC now owns 106 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 104 shares in the last quarter. 94.01% of the stock is owned by institutional investors.

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.