Waters (NYSE:WAT) Lowered to Neutral at BTIG Research

Waters (NYSE:WAT) was downgraded by analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, The Fly reports.

A number of other analysts also recently issued reports on WAT. Needham & Company LLC reaffirmed a “hold” rating on shares of Waters in a report on Tuesday, October 29th. Barclays downgraded Waters from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $210.00 to $195.00 in a report on Wednesday, October 9th. TheStreet downgraded Waters from a “b” rating to a “c+” rating in a report on Tuesday, October 29th. Finally, Stifel Nicolaus assumed coverage on Waters in a report on Thursday, November 14th. They issued a “hold” rating and a $210.00 target price for the company. Six analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Waters has an average rating of “Hold” and a consensus target price of $208.76.

NYSE WAT traded up $3.59 during trading on Wednesday, reaching $224.95. 599,065 shares of the company’s stock were exchanged, compared to its average volume of 579,988. The stock has a market cap of $14.31 billion, a P/E ratio of 27.14, a price-to-earnings-growth ratio of 2.64 and a beta of 1.04. The company has a debt-to-equity ratio of 11.40, a quick ratio of 1.63 and a current ratio of 2.25. The company has a 50 day moving average price of $217.02 and a two-hundred day moving average price of $214.44. Waters has a 1 year low of $173.41 and a 1 year high of $255.21.

Waters (NYSE:WAT) last announced its quarterly earnings results on Tuesday, October 29th. The medical instruments supplier reported $2.13 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $2.13. The company had revenue of $577.28 million during the quarter, compared to the consensus estimate of $588.35 million. Waters had a return on equity of 77.73% and a net margin of 23.98%. Waters’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the business earned $1.92 EPS. Research analysts forecast that Waters will post 8.83 EPS for the current fiscal year.

In other news, Director Edward Conard sold 1,112 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $221.97, for a total value of $246,830.64. Following the completion of the sale, the director now directly owns 68,510 shares of the company’s stock, valued at approximately $15,207,164.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mark T. Beaudouin sold 762 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $215.00, for a total value of $163,830.00. Following the completion of the sale, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at $879,350. The disclosure for this sale can be found here. Insiders sold a total of 35,775 shares of company stock valued at $7,639,152 over the last three months. Company insiders own 1.14% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Compagnie Lombard Odier SCmA acquired a new position in Waters in the 2nd quarter valued at about $37,000. CSat Investment Advisory L.P. increased its position in Waters by 212.5% in the 2nd quarter. CSat Investment Advisory L.P. now owns 225 shares of the medical instruments supplier’s stock valued at $48,000 after acquiring an additional 153 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Waters in the 3rd quarter valued at about $51,000. Thor Advisors LLC acquired a new position in Waters in the 3rd quarter valued at about $52,000. Finally, Private Capital Group LLC increased its position in Waters by 92.0% during the 2nd quarter. Private Capital Group LLC now owns 288 shares of the medical instruments supplier’s stock worth $56,000 after purchasing an additional 138 shares during the period. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Waters Company Profile

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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Analyst Recommendations for Waters (NYSE:WAT)

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