SVB Securities Sticks to Its Hold Rating for Waters (WAT)

SVB Securities analyst Puneet Souda maintained a Hold rating on Waters (WATResearch Report) on August 2 and set a price target of $350.00. The company’s shares closed last Thursday at $334.56.

According to TipRanks.com, Souda has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -8.6% and a 40.5% success rate. Souda covers the Healthcare sector, focusing on stocks such as AbCellera Biologics, Castle Biosciences, and Twist Bioscience.

Currently, the analyst consensus on Waters is a Hold with an average price target of $357.33, implying a 5.5% upside from current levels. In a report issued on August 2, Robert W. Baird also maintained a Hold rating on the stock with a $348.00 price target.

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Based on Waters’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $691 million and net profit of $160 million. In comparison, last year the company earned revenue of $609 million and had a net profit of $148 million.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is neutral on the stock. Most recently, in May 2022, Christopher Kuebler, a Director at WAT sold 4,000 shares for a total of $1,315,120.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Waters Corp. is a measurement company, which engages in the analytical workflow solutions involving liquid chromatography, mass spectrometry and thermal analysis innovations. It operates through Waters and TA segments. The Waters segment designs, manufactures, distributes and services liquid chromatography and ultra performance liquid chromatography instruments, columns and other chemistry consumables that can be integrated and used along with other analytical instruments. The TA Instruments segment designs, manufactures, distributes and services thermal analysis, rheometry and calorimetry instruments. The company was founded by James Logan Waters in 1958 and is headquartered in Milford, MA.

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