Waters (NYSE:WAT) Stock Rating Upgraded by KeyCorp

Waters (NYSE:WAT) was upgraded by research analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a report issued on Monday, Marketbeat Ratings reports. The brokerage currently has a $460.00 target price on the medical instruments supplier’s stock. KeyCorp’s target price points to a potential upside of 29.42% from the company’s previous close. KeyCorp also issued estimates for Waters’ Q1 2025 earnings at $2.20 EPS, Q2 2025 earnings at $2.88 EPS, Q3 2025 earnings at $3.23 EPS, Q4 2025 earnings at $4.45 EPS and FY2026 earnings at $13.83 EPS.

A number of other brokerages have also weighed in on WAT. Barclays raised shares of Waters from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $360.00 to $415.00 in a research note on Monday, February 10th. Scotiabank raised Waters from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $430.00 to $450.00 in a research note on Thursday, February 13th. JPMorgan Chase & Co. lifted their price target on Waters from $380.00 to $390.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Sanford C. Bernstein upgraded Waters from a “market perform” rating to an “outperform” rating and set a $430.00 price objective for the company in a report on Friday, January 10th. Finally, Bank of America lowered their target price on Waters from $430.00 to $410.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $401.31.

Waters Price Performance

Shares of NYSE:WAT opened at $355.43 on Monday. The firm’s 50 day moving average is $385.54 and its two-hundred day moving average is $373.45. The firm has a market capitalization of $21.12 billion, a P/E ratio of 33.19, a PEG ratio of 3.79 and a beta of 1.00. The company has a current ratio of 0.94, a quick ratio of 0.65 and a debt-to-equity ratio of 1.14. Waters has a 52 week low of $279.24 and a 52 week high of $423.56.

Waters (NYSE:WAT) last posted its earnings results on Wednesday, February 12th. The medical instruments supplier reported $4.10 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%. Analysts anticipate that Waters will post 12.86 earnings per share for the current year.

Hedge Funds Weigh In On Waters

Several institutional investors and hedge funds have recently bought and sold shares of WAT. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Waters by 15.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,318 shares of the medical instruments supplier’s stock worth $1,602,000 after purchasing an additional 593 shares during the period. Siemens Fonds Invest GmbH boosted its stake in shares of Waters by 8,167.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 51,590 shares of the medical instruments supplier’s stock valued at $19,139,000 after buying an additional 50,966 shares during the period. Menard Financial Group LLC purchased a new position in shares of Waters during the 4th quarter valued at $128,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Waters in the fourth quarter worth $22,948,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Waters during the fourth quarter worth $223,000. Hedge funds and other 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.