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

Waters (NYSE:WAT) was upgraded by stock analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage presently has a $407.00 target price on the medical instruments supplier’s stock, up from their prior target price of $396.00. Robert W. Baird’s price target points to a potential upside of 9.94% from the stock’s previous close.

Several other analysts have also commented on the stock. StockNews.com lowered shares of Waters from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. 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 report on Thursday, March 6th. Scotiabank raised Waters from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $430.00 to $450.00 in a report on Thursday, February 13th. Wells Fargo & Company raised 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. Finally, UBS Group upped their price target on Waters from $405.00 to $410.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Ten equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Waters presently has an average rating of “Moderate Buy” and a consensus price target of $397.40.

Waters Stock Performance

WAT stock opened at $370.19 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.94 and a debt-to-equity ratio of 1.14. The firm has a market cap of $21.99 billion, a PE ratio of 34.56, a P/E/G ratio of 3.79 and a beta of 1.00. The business has a 50 day moving average of $388.26 and a 200-day moving average of $372.08. Waters has a 12-month low of $279.24 and a 12-month high of $423.56.

Waters (NYSE:WAT) last announced its quarterly earnings data on Wednesday, February 12th. The medical instruments supplier reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. Waters had a return on equity of 46.31% and a net margin of 21.56%. As a group, sell-side analysts expect that Waters will post 12.86 earnings per share for the current year.

Institutional Trading of Waters

Several institutional investors and hedge funds have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. grew its position in shares of Waters by 15.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,587 shares of the medical instruments supplier’s stock valued at $1,331,000 after purchasing an additional 482 shares in the last quarter. Barclays PLC grew its position in Waters by 34.8% during the third quarter. Barclays PLC now owns 159,995 shares of the medical instruments supplier’s stock worth $57,579,000 after buying an additional 41,339 shares in the last quarter. Savant Capital LLC grew its position in Waters by 3.8% during the fourth quarter. Savant Capital LLC now owns 1,704 shares of the medical instruments supplier’s stock worth $632,000 after buying an additional 63 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Waters by 13.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 2,578 shares of the medical instruments supplier’s stock worth $928,000 after acquiring an additional 300 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Waters by 7.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 421,691 shares of the medical instruments supplier’s stock valued at $156,439,000 after acquiring an additional 27,801 shares in the last quarter. 94.01% of the stock is currently owned by hedge funds and other 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.