Waters (NYSE:WAT) Hits New 12-Month High – Time to Buy?

Waters Co. (NYSE:WAT)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $397.02 and last traded at $389.97, with a volume of 49293 shares traded. The stock had previously closed at $390.35.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WAT shares. TD Cowen upped their price target on Waters from $363.00 to $410.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Sanford C. Bernstein upped their price target on Waters from $345.00 to $360.00 and gave the stock a “market perform” rating in a report on Monday, November 4th. Jefferies Financial Group upgraded Waters from a “hold” rating to a “buy” rating and upped their price target for the stock from $355.00 to $415.00 in a report on Tuesday, October 8th. Stifel Nicolaus upped their price target on Waters from $332.00 to $360.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Finally, Bank of America upped their price target on Waters from $400.00 to $430.00 and gave the stock a “neutral” rating in a report on Friday. One research analyst has rated the stock with a sell rating, ten have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $375.85.

Waters Price Performance

The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.14. The business has a 50-day moving average price of $365.52 and a 200 day moving average price of $335.79. The stock has a market cap of $22.42 billion, a PE ratio of 35.90, a PEG ratio of 7.05 and a beta of 1.01.

Waters (NYSE:WAT) last issued its quarterly earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.25. Waters had a return on equity of 49.93% and a net margin of 21.43%. The firm had revenue of $740.30 million for the quarter, compared to analysts’ expectations of $712.99 million. During the same quarter in the prior year, the firm earned $2.84 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, research analysts forecast that Waters Co. will post 11.79 earnings per share for the current fiscal year.

Institutional Trading of Waters

Institutional investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. purchased a new stake in Waters during the 2nd quarter worth about $33,000. Kennebec Savings Bank bought a new stake in shares of Waters during the 3rd quarter valued at about $33,000. Blue Trust Inc. raised its stake in Waters by 190.2% in the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 78 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Waters during the third quarter valued at approximately $35,000. Finally, TFC Financial Management Inc. lifted its position in Waters by 19,900.0% during the second quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier’s stock valued at $58,000 after purchasing an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 94.01% of the company’s stock.

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.