Waters (WAT) Stock Rating Upgraded by Morgan Stanley

Morgan Stanley upgraded shares of Waters (NYSE:WAT) from an underweight rating to an equal weight rating in a research report sent to investors on Monday morning, MarketBeat.com reports. The brokerage currently has $192.00 target price on the medical instruments supplier’s stock.

A number of other research firms have also recently commented on WAT. Barclays upped their target price on Waters from $188.00 to $193.00 and gave the company an equal weight rating in a research note on Wednesday, October 25th. Deutsche Bank increased their price objective on Waters from $199.00 to $200.00 and gave the stock a hold rating in a research note on Wednesday, October 25th. Citigroup reissued a neutral rating and issued a $180.00 price objective on shares of Waters in a research note on Wednesday, October 25th. Robert W. Baird increased their price objective on Waters from $196.00 to $199.00 and gave the stock an outperform rating in a research note on Wednesday, October 25th. Finally, Jefferies Group reissued a hold rating and issued a $175.00 price objective on shares of Waters in a research note on Thursday, August 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Waters has a consensus rating of Hold and an average target price of $193.62.

Waters (NYSE:WAT) opened at $196.47 on Monday. The company has a market capitalization of $15,450.08, a P/E ratio of 26.98, a PEG ratio of 2.82 and a beta of 0.82. Waters has a 52 week low of $133.71 and a 52 week high of $201.95. 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 (NYSE:WAT) last released its earnings results on Tuesday, October 24th. The medical instruments supplier reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.03. The firm had revenue of $565.58 million for the quarter, compared to analysts’ expectations of $555.25 million. Waters had a return on equity of 23.61% and a net margin of 24.34%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.57 earnings per share. sell-side analysts forecast that Waters will post 7.42 EPS for the current year.

In other news, Director William J. Miller sold 3,500 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $194.94, for a total transaction of $682,290.00. Following the completion of the sale, the director now owns 25,849 shares in the company, valued at approximately $5,039,004.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Elizabeth B. Rae sold 12,000 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $197.95, for a total value of $2,375,400.00. Following the sale, the senior vice president now owns 18,129 shares of the company’s stock, valued at approximately $3,588,635.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,913 shares of company stock valued at $9,084,685. 5.07% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd acquired a new position in shares of Waters in the 3rd quarter valued at $398,000. Bares Capital Management Inc. increased its position in shares of Waters by 0.6% in the 3rd quarter. Bares Capital Management Inc. now owns 728,948 shares of the medical instruments supplier’s stock valued at $130,861,000 after acquiring an additional 4,663 shares during the period. California Public Employees Retirement System increased its position in shares of Waters by 6.6% in the 3rd quarter. California Public Employees Retirement System now owns 207,968 shares of the medical instruments supplier’s stock valued at $37,334,000 after acquiring an additional 12,868 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Waters during the 3rd quarter worth about $459,000. Finally, Cubist Systematic Strategies LLC grew its position in Waters by 114.1% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 11,121 shares of the medical instruments supplier’s stock worth $1,996,000 after purchasing an additional 5,926 shares during the period. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

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About Waters

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.

Analyst Recommendations for Waters (NYSE:WAT)

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