Wells Fargo & Company Issues Positive Forecast for Waters (NYSE:WAT) Stock Price

Waters (NYSE:WAT) had its price target hoisted by Wells Fargo & Company from $315.00 to $385.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the medical instruments supplier’s stock.

A number of other brokerages also recently issued reports on WAT. UBS Group reaffirmed a “neutral” rating on shares of Waters in a research report on Tuesday, July 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waters in a research report on Wednesday, October 8th. Jefferies Financial Group set a $385.00 price objective on shares of Waters and gave the stock a “buy” rating in a research report on Monday, August 4th. Rothschild Redb raised shares of Waters to a “strong-buy” rating in a research report on Wednesday, October 8th. Finally, Redburn Partners set a $390.00 price objective on shares of Waters in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Waters has a consensus rating of “Moderate Buy” and a consensus price target of $381.57.

Waters Trading Up 1.3%

WAT opened at $372.09 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.75 and a quick ratio of 1.22. Waters has a fifty-two week low of $275.05 and a fifty-two week high of $423.56. The firm has a market capitalization of $22.15 billion, a PE ratio of 33.55, a P/E/G ratio of 3.19 and a beta of 1.11. The company’s 50-day moving average is $320.65 and its 200 day moving average is $325.41.

Waters (NYSE:WAT) last issued its quarterly earnings data on Thursday, May 19th. The medical instruments supplier reported $2.29 earnings per share (EPS) for the quarter. Waters had a net margin of 21.71% and a return on equity of 38.60%. The business had revenue of $608.55 million during the quarter. As a group, research analysts predict that Waters will post 12.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. UMB Bank n.a. grew its position in shares of Waters by 2.8% during the 2nd quarter. UMB Bank n.a. now owns 1,055 shares of the medical instruments supplier’s stock valued at $368,000 after acquiring an additional 29 shares during the period. Integrated Wealth Concepts LLC grew its position in shares of Waters by 2.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,048 shares of the medical instruments supplier’s stock valued at $386,000 after acquiring an additional 30 shares during the period. FourThought Financial Partners LLC boosted its holdings in Waters by 5.1% in the 1st quarter. FourThought Financial Partners LLC now owns 658 shares of the medical instruments supplier’s stock worth $243,000 after buying an additional 32 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Waters by 5.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 630 shares of the medical instruments supplier’s stock worth $189,000 after buying an additional 35 shares during the period. Finally, Penserra Capital Management LLC boosted its holdings in Waters by 13.1% in the 2nd quarter. Penserra Capital Management LLC now owns 327 shares of the medical instruments supplier’s stock worth $114,000 after buying an additional 38 shares during the period. 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.