Waters (NYSE:WAT) Shares Down 4.4% – What’s Next?

Waters Co. (NYSE:WAT)’s share price dropped 4.4% on Wednesday . The company traded as low as $385.56 and last traded at $387.31. Approximately 219,467 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 403,128 shares. The stock had previously closed at $404.93.

Analyst Ratings Changes

WAT has been the subject of several research analyst reports. Barclays upped their price target on shares of Waters from $330.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped their target price on Waters from $310.00 to $325.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Jefferies Financial Group raised Waters from a “hold” rating to a “buy” rating and lifted their price target for the company from $355.00 to $415.00 in a research note on Tuesday, October 8th. Bank of America upped their price objective on Waters from $400.00 to $430.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, Evercore ISI lifted their target price on shares of Waters from $335.00 to $355.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Waters currently has a consensus rating of “Hold” and an average target price of $384.71.

Waters Trading Down 0.4 %

The company has a market cap of $23.98 billion, a P/E ratio of 38.54, a price-to-earnings-growth ratio of 6.66 and a beta of 1.01. The firm has a 50-day moving average of $378.03 and a 200 day moving average of $348.89. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.14.

Waters (NYSE:WAT) last announced its quarterly earnings data on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, topping the consensus estimate of $2.68 by $0.25. Waters had a net margin of 21.43% and a return on equity of 49.93%. The company had revenue of $740.30 million during the quarter, compared to the consensus estimate of $712.99 million. During the same quarter last year, the firm posted $2.84 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts predict that Waters Co. will post 11.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WAT. Janney Montgomery Scott LLC raised its position in shares of Waters by 39.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,624 shares of the medical instruments supplier’s stock worth $1,715,000 after purchasing an additional 1,301 shares during the period. Advisory Alpha LLC increased its stake in Waters by 2.6% during the 4th quarter. Advisory Alpha LLC now owns 1,065 shares of the medical instruments supplier’s stock valued at $395,000 after purchasing an additional 27 shares in the last quarter. Eads & Heald Wealth Management increased its stake in Waters by 3.7% during the 4th quarter. Eads & Heald Wealth Management now owns 1,286 shares of the medical instruments supplier’s stock valued at $477,000 after purchasing an additional 46 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Waters by 0.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 29,441 shares of the medical instruments supplier’s stock worth $10,922,000 after buying an additional 211 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its stake in shares of Waters by 40.6% in the fourth quarter. Atomi Financial Group Inc. now owns 1,330 shares of the medical instruments supplier’s stock valued at $494,000 after buying an additional 384 shares in the last quarter. Institutional investors own 94.01% of the company’s stock.

About Waters

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.