Waters (NYSE:WAT) was upgraded by analysts at Cleveland Research from a “sell” rating to a “neutral” rating in a research note issued on Thursday, Marketbeat Ratings reports.

A number of other analysts have also issued reports on the company. Morgan Stanley raised their price target on Waters from $204.00 to $211.00 and gave the stock an “equal weight” rating in a research note on Wednesday. UBS Group began coverage on Waters in a research note on Tuesday. They issued a “neutral” rating and a $210.00 price target on the stock. Leerink Swann lowered Waters from an “outperform” rating to a “market perform” rating in a research note on Monday, October 8th. Zacks Investment Research lowered Waters from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Finally, Robert W. Baird raised their price target on Waters from $201.00 to $212.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. Waters has an average rating of “Hold” and a consensus target price of $208.73.

Shares of NYSE:WAT opened at $181.80 on Thursday. The company has a current ratio of 6.58, a quick ratio of 5.95 and a debt-to-equity ratio of 0.58. Waters has a 12-month low of $177.25 and a 12-month high of $220.20. The stock has a market capitalization of $15.00 billion, a price-to-earnings ratio of 24.08, a price-to-earnings-growth ratio of 2.39 and a beta of 0.93.

Waters (NYSE:WAT) last issued its quarterly earnings results on Tuesday, July 24th. The medical instruments supplier reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Waters had a return on equity of 27.85% and a net margin of 2.12%. The firm had revenue of $596.20 million for the quarter, compared to analyst estimates of $598.73 million. During the same period last year, the company earned $1.76 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. Sell-side analysts expect that Waters will post 8.11 earnings per share for the current year.

In other news, SVP Elizabeth B. Rae sold 4,000 shares of Waters stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $190.62, for a total value of $762,480.00. Following the transaction, the senior vice president now directly owns 9,443 shares of the company’s stock, valued at approximately $1,800,024.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.98% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Knowledge Leaders Capital LLC lifted its stake in shares of Waters by 1.0% in the 2nd quarter. Knowledge Leaders Capital LLC now owns 26,727 shares of the medical instruments supplier’s stock valued at $5,174,000 after purchasing an additional 277 shares in the last quarter. MainStreet Investment Advisors LLC lifted its stake in shares of Waters by 6.9% in the 2nd quarter. MainStreet Investment Advisors LLC now owns 4,602 shares of the medical instruments supplier’s stock valued at $891,000 after purchasing an additional 298 shares in the last quarter. Aviva PLC lifted its stake in shares of Waters by 0.8% in the 2nd quarter. Aviva PLC now owns 38,965 shares of the medical instruments supplier’s stock valued at $7,543,000 after purchasing an additional 303 shares in the last quarter. Armstrong Henry H Associates Inc. lifted its stake in shares of Waters by 2.2% in the 2nd quarter. Armstrong Henry H Associates Inc. now owns 14,319 shares of the medical instruments supplier’s stock valued at $2,772,000 after purchasing an additional 310 shares in the last quarter. Finally, Linscomb & Williams Inc. lifted its stake in shares of Waters by 14.2% in the 2nd quarter. Linscomb & Williams Inc. now owns 3,113 shares of the medical instruments supplier’s stock valued at $603,000 after purchasing an additional 386 shares in the last quarter. 99.31% of the stock is currently owned by institutional investors and hedge funds.

About Waters

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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