Waters (WAT) Earns “Hold” Rating from Jefferies Group
Jefferies Group reiterated their hold rating on shares of Waters (NYSE:WAT) in a research note released on Wednesday. Jefferies Group currently has a $200.00 price objective on the medical instruments supplier’s stock. Jefferies Group also issued estimates for Waters’ Q4 2018 earnings at $2.77 EPS, FY2018 earnings at $8.20 EPS, Q1 2019 earnings at $1.90 EPS, Q2 2019 earnings at $2.18 EPS, Q3 2019 earnings at $2.23 EPS, Q4 2019 earnings at $2.76 EPS and FY2019 earnings at $9.05 EPS.
Other equities research analysts also recently issued reports about the company. Janney Montgomery Scott increased their price objective on Waters from $200.00 to $230.00 and gave the stock a buy rating in a research note on Wednesday, January 24th. Robert W. Baird increased their price objective on Waters from $219.00 to $220.00 and gave the stock an outperform rating in a research note on Wednesday, January 24th. William Blair reissued an outperform rating on shares of Waters in a research note on Tuesday, January 23rd. Zacks Investment Research downgraded Waters from a buy rating to a hold rating in a research note on Saturday, January 6th. Finally, Citigroup increased their price objective on Waters from $190.00 to $223.00 and gave the stock a neutral rating in a research note on Wednesday, January 24th. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $207.31.
NYSE:WAT opened at $190.50 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.69 and a quick ratio of 6.60. Waters has a 1-year low of $169.23 and a 1-year high of $220.20. The firm has a market capitalization of $15,061.23, a P/E ratio of 25.43, a P/E/G ratio of 2.24 and a beta of 0.93.
Waters announced that its board has authorized a share buyback program on Tuesday, April 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the medical instruments supplier to repurchase up to 18.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
In related news, SVP Elizabeth B. Rae sold 28,400 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $219.01, for a total value of $6,219,884.00. Following the transaction, the senior vice president now directly owns 13,443 shares of the company’s stock, valued at approximately $2,944,151.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Terrence P. Kelly sold 1,312 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $212.52, for a total value of $278,826.24. Following the completion of the transaction, the senior vice president now directly owns 5,130 shares in the company, valued at $1,090,227.60. The disclosure for this sale can be found here. Insiders have sold a total of 31,651 shares of company stock valued at $6,903,657 over the last ninety days. Company insiders own 0.98% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Banco de Sabadell S.A bought a new position in shares of Waters in the 4th quarter valued at approximately $193,000. Brown Advisory Securities LLC bought a new position in shares of Waters in the 4th quarter valued at approximately $202,000. Checchi Capital Advisers LLC bought a new position in shares of Waters in the 4th quarter valued at approximately $210,000. Trust Co. of Virginia VA bought a new position in shares of Waters in the 4th quarter valued at approximately $213,000. Finally, Contravisory Investment Management Inc. bought a new position in shares of Waters in the 4th quarter valued at approximately $290,000. 94.53% of the stock is currently owned by institutional investors and hedge funds.
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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