SVB Leerink Raises Waters (NYSE:WAT) Price Target to $225.00

Waters (NYSE:WAT) had its price target increased by SVB Leerink from $195.00 to $225.00 in a research note issued to investors on Wednesday morning, The Fly reports. They currently have a market perform rating on the medical instruments supplier’s stock. SVB Leerink also issued estimates for Waters’ Q3 2020 earnings at $1.92 EPS, Q4 2020 earnings at $2.72 EPS, FY2020 earnings at $7.88 EPS, Q1 2021 earnings at $1.65 EPS, Q2 2021 earnings at $2.04 EPS, Q3 2021 earnings at $1.97 EPS, Q4 2021 earnings at $2.59 EPS and FY2021 earnings at $8.25 EPS.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of Waters from an underweight rating to a neutral rating in a research note on Tuesday, July 28th. UBS Group dropped their price target on shares of Waters from $223.00 to $212.00 and set a neutral rating on the stock in a research note on Tuesday, April 28th. Stifel Nicolaus increased their price objective on Waters from $176.00 to $180.00 and gave the stock a hold rating in a report on Wednesday, April 29th. Wells Fargo & Co upgraded Waters from an underweight rating to an equal weight rating and boosted their target price for the company from $175.00 to $225.00 in a research note on Thursday, July 16th. Finally, Bank of America cut their price target on Waters from $160.00 to $145.00 and set an underperform rating for the company in a research note on Wednesday, April 29th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $196.22.

Shares of WAT stock opened at $213.15 on Wednesday. The company has a market capitalization of $13.17 billion, a price-to-earnings ratio of 26.54, a P/E/G ratio of 6.89 and a beta of 0.94. Waters has a 1-year low of $154.39 and a 1-year high of $245.68. The stock’s fifty day simple moving average is $197.00 and its 200-day simple moving average is $199.83.

Waters (NYSE:WAT) last released its earnings results on Tuesday, July 28th. The medical instruments supplier reported $2.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.63. The company had revenue of $519.98 million for the quarter, compared to analysts’ expectations of $519.41 million. Waters had a negative return on equity of 349.31% and a net margin of 22.61%. On average, analysts anticipate that Waters will post 8.2 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pearl River Capital LLC acquired a new position in shares of Waters during the 1st quarter valued at about $36,000. Signaturefd LLC boosted its position in Waters by 299.4% during the first quarter. Signaturefd LLC now owns 679 shares of the medical instruments supplier’s stock worth $124,000 after purchasing an additional 509 shares during the period. WASHINGTON TRUST Co acquired a new position in Waters during the first quarter valued at approximately $127,000. AGF Investments Inc. acquired a new position in Waters during the first quarter valued at approximately $137,000. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Waters by 9.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 785 shares of the medical instruments supplier’s stock valued at $143,000 after purchasing an additional 70 shares during the period. Institutional investors own 95.09% of the company’s stock.

About Waters

Waters Corporation, a specialty measurement company, 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.

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