Waters (NYSE:WAT) Upgraded to Sector Outperform at Scotiabank

Scotiabank upgraded shares of Waters (NYSE:WAT) from a sector perform rating to a sector outperform rating in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. They currently have $450.00 target price on the medical instruments supplier’s stock, up from their prior target price of $430.00.

A number of other brokerages also recently issued reports on WAT. TD Cowen boosted their price objective on Waters from $363.00 to $410.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Sanford C. Bernstein raised Waters from a “market perform” rating to an “outperform” rating and set a $430.00 target price for the company in a research report on Friday, January 10th. Bank of America cut their price target on Waters from $430.00 to $410.00 and set a “neutral” rating on the stock in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on Waters from $340.00 to $380.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Waters from $310.00 to $325.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $390.40.

Waters Stock Performance

NYSE:WAT opened at $379.45 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.38 and a current ratio of 2.02. Waters has a fifty-two week low of $279.24 and a fifty-two week high of $423.56. The company has a 50 day simple moving average of $390.13 and a two-hundred day simple moving average of $363.96. The company has a market capitalization of $22.53 billion, a PE ratio of 36.21, a P/E/G ratio of 7.37 and a beta of 1.01.

Waters (NYSE:WAT) last posted its quarterly earnings data on Wednesday, February 12th. The medical instruments supplier reported $4.10 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.08. Waters had a net margin of 21.43% and a return on equity of 49.93%. Research analysts anticipate that Waters will post 11.79 earnings per share for the current year.

Institutional Investors Weigh In On Waters

A number of hedge funds have recently modified their holdings of WAT. Marshall Wace LLP lifted its position in shares of Waters by 438.0% during the 4th quarter. Marshall Wace LLP now owns 303,076 shares of the medical instruments supplier’s stock valued at $112,435,000 after buying an additional 246,738 shares during the last quarter. Canada Post Corp Registered Pension Plan bought a new position in Waters during the fourth quarter worth about $376,000. Reynders McVeigh Capital Management LLC bought a new stake in shares of Waters in the fourth quarter valued at approximately $202,000. Sagespring Wealth Partners LLC purchased a new stake in shares of Waters during the 4th quarter valued at approximately $225,000. Finally, Townsquare Capital LLC boosted its holdings in Waters by 95.9% in the 4th quarter. Townsquare Capital LLC now owns 1,244 shares of the medical instruments supplier’s stock worth $462,000 after buying an additional 609 shares during the period. Institutional investors 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.