Waters (WAT) Coverage Initiated by Analysts at Needham & Company LLC

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Needham & Company LLC initiated coverage on shares of Waters (NYSE:WAT) in a research report sent to investors on Wednesday, January 2nd, MarketBeat Ratings reports. The firm issued a hold rating and a $177.00 target price on the medical instruments supplier’s stock.

WAT has been the topic of a number of other research reports. Morgan Stanley raised their target price on shares of Waters from $204.00 to $211.00 and gave the company an equal weight rating in a research note on Wednesday, October 10th. Goldman Sachs Group downgraded shares of Waters from a neutral rating to a sell rating and dropped their price target for the stock from $185.00 to $180.00 in a research note on Friday, November 30th. TheStreet downgraded shares of Waters from a b rating to a c+ rating in a research note on Thursday, December 20th. UBS Group assumed coverage on shares of Waters in a research note on Tuesday, October 9th. They set a neutral rating and a $210.00 price target on the stock. Finally, Cleveland Research raised shares of Waters from a sell rating to a neutral rating in a research note on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. Waters currently has an average rating of Hold and an average price target of $201.92.

Shares of NYSE WAT opened at $198.24 on Wednesday. The company has a market cap of $14.77 billion, a P/E ratio of 26.47, a PEG ratio of 1.81 and a beta of 0.92. Waters has a 1 year low of $167.93 and a 1 year high of $220.20. The company has a current ratio of 6.63, a quick ratio of 5.93 and a debt-to-equity ratio of 0.61.

Waters (NYSE:WAT) last announced its quarterly earnings results on Tuesday, October 23rd. The medical instruments supplier reported $1.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.02. Waters had a net margin of 2.32% and a return on equity of 30.68%. The company had revenue of $578.02 million for the quarter, compared to analyst estimates of $587.43 million. During the same quarter last year, the business earned $1.77 EPS. Waters’s revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts anticipate that Waters will post 8.07 earnings per share for the current year.

In related news, Director Christopher A. Kuebler sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $199.67, for a total value of $1,597,360.00. Following the sale, the director now directly owns 18,911 shares in the company, valued at approximately $3,775,959.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Terrence P. Kelly sold 21,028 shares of the business’s stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $190.07, for a total transaction of $3,996,791.96. Following the sale, the senior vice president now owns 9,541 shares in the company, valued at approximately $1,813,457.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,159 shares of company stock valued at $7,127,100. Company insiders own 0.98% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. grew its position in Waters by 19.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 1,720 shares of the medical instruments supplier’s stock valued at $335,000 after purchasing an additional 284 shares in the last quarter. Stone Ridge Asset Management LLC grew its position in Waters by 14.5% during the third quarter. Stone Ridge Asset Management LLC now owns 2,369 shares of the medical instruments supplier’s stock valued at $461,000 after purchasing an additional 300 shares in the last quarter. Candriam Luxembourg S.C.A. grew its position in Waters by 3.1% during the third quarter. Candriam Luxembourg S.C.A. now owns 10,306 shares of the medical instruments supplier’s stock valued at $2,006,000 after purchasing an additional 314 shares in the last quarter. Ledyard National Bank grew its position in Waters by 38.3% in the third quarter. Ledyard National Bank now owns 1,660 shares of the medical instruments supplier’s stock worth $323,000 after acquiring an additional 460 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its position in Waters by 12.9% in the third quarter. IFM Investors Pty Ltd now owns 4,119 shares of the medical instruments supplier’s stock worth $802,000 after acquiring an additional 471 shares in the last quarter. 92.22% of the stock is currently owned by hedge funds and other institutional investors.

Waters Company Profile

Waters Corporation, a specialty measurement company, provides analytical workflow solutions in the United States, Europe, Asia, and internationally. It designs, manufactures, sells, and services high and ultra performance liquid chromatography technology, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.

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Analyst Recommendations for Waters (NYSE:WAT)

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