Waters (NYSE:WAT) Stock Crosses Above 200-Day Moving Average – Should You Sell?
by Renee Jackson · The Cerbat GemWaters Co. (NYSE:WAT – Get Free Report)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $340.80 and traded as high as $373.70. Waters shares last traded at $370.94, with a volume of 204,488 shares.
Analyst Ratings Changes
Several analysts have issued reports on WAT shares. TD Cowen boosted their price target on Waters from $363.00 to $410.00 and gave the company a “hold” rating in a report on Monday, November 4th. Evercore ISI boosted their price objective on Waters from $335.00 to $355.00 and gave the company an “in-line” rating in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Waters from $310.00 to $325.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Cfra set a $389.00 price target on shares of Waters in a research report on Thursday, October 17th. Finally, Wells Fargo & Company raised their price objective on shares of Waters from $380.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $379.71.
Waters Stock Performance
The stock has a market capitalization of $22.03 billion, a PE ratio of 35.40, a price-to-earnings-growth ratio of 6.92 and a beta of 1.01. The business’s fifty day moving average is $370.40 and its two-hundred day moving average is $341.87. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 1.14.
Waters (NYSE:WAT – Get Free Report) last announced its earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $740.30 million for the quarter, compared to analysts’ expectations of $712.99 million. During the same period in the prior year, the company earned $2.84 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. As a group, research analysts anticipate that Waters Co. will post 11.79 EPS for the current fiscal year.
Institutional Trading of Waters
A number of institutional investors have recently bought and sold shares of WAT. State Street Corp lifted its holdings in shares of Waters by 1.9% in the 3rd quarter. State Street Corp now owns 2,577,733 shares of the medical instruments supplier’s stock worth $927,700,000 after acquiring an additional 49,194 shares during the last quarter. Geode Capital Management LLC raised its position in Waters by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,416,683 shares of the medical instruments supplier’s stock worth $508,123,000 after purchasing an additional 16,703 shares during the period. Janus Henderson Group PLC lifted its stake in Waters by 0.7% in the third quarter. Janus Henderson Group PLC now owns 885,593 shares of the medical instruments supplier’s stock worth $318,717,000 after purchasing an additional 6,256 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Waters by 1.0% during the third quarter. Van ECK Associates Corp now owns 659,539 shares of the medical instruments supplier’s stock valued at $219,811,000 after buying an additional 6,647 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Waters by 70.7% during the third quarter. Principal Financial Group Inc. now owns 656,019 shares of the medical instruments supplier’s stock valued at $236,095,000 after buying an additional 271,804 shares during the last quarter. 94.01% of the stock is currently owned by institutional investors.
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.