Waters (NYSE:WAT) was upgraded by investment analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued on Monday.
A number of other equities analysts have also recently commented on the company. Bank of America lifted their target price on Waters from $192.00 to $202.00 and gave the stock a “neutral” rating in a report on Friday, November 10th. Cowen reiterated a “hold” rating and issued a $190.00 target price on shares of Waters in a report on Friday, November 3rd. Zacks Investment Research cut Waters from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Citigroup reiterated a “neutral” rating and issued a $180.00 target price on shares of Waters in a report on Wednesday, October 25th. Finally, Barclays raised their price target on Waters from $188.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $193.62.
Shares of Waters (NYSE WAT) opened at $198.16 on Monday. The stock has a market capitalization of $15,760.26, a PE ratio of 27.52, a P/E/G ratio of 2.88 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 5.71 and a current ratio of 6.16. Waters has a 1 year low of $133.35 and a 1 year high of $200.71.
In related news, Director Thomas P. Salice sold 3,500 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $200.03, for a total transaction of $700,105.00. Following the transaction, the director now directly owns 20,349 shares in the company, valued at approximately $4,070,410.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Rohit Khanna sold 18,400 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $185.78, for a total value of $3,418,352.00. Following the transaction, the senior vice president now owns 22,477 shares in the company, valued at $4,175,777.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,813 shares of company stock valued at $11,820,747. Corporate insiders own 5.07% of the company’s stock.
A number of hedge funds have recently made changes to their positions in WAT. Vanguard Group Inc. lifted its holdings in shares of Waters by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 7,704,022 shares of the medical instruments supplier’s stock valued at $1,416,308,000 after buying an additional 206,262 shares during the period. BlackRock Inc. lifted its holdings in shares of Waters by 3.1% in the 2nd quarter. BlackRock Inc. now owns 5,515,322 shares of the medical instruments supplier’s stock valued at $1,013,936,000 after buying an additional 165,611 shares during the period. Fundsmith LLP lifted its holdings in shares of Waters by 11.7% in the 2nd quarter. Fundsmith LLP now owns 3,833,955 shares of the medical instruments supplier’s stock valued at $704,834,000 after buying an additional 401,420 shares during the period. Harding Loevner LP lifted its holdings in shares of Waters by 207.1% in the 3rd quarter. Harding Loevner LP now owns 2,768,174 shares of the medical instruments supplier’s stock valued at $158,275,000 after buying an additional 1,866,848 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Waters by 1.6% in the 3rd quarter. Janus Henderson Group PLC now owns 1,959,850 shares of the medical instruments supplier’s stock valued at $351,832,000 after buying an additional 30,057 shares during the period. Hedge funds and other institutional investors own 94.66% of the company’s stock.
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Waters Corporation is an analytical instrument manufacturer. The Company operates through two segments: Waters and TA. It designs, manufactures, sells and services high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans.
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