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Waters Introduces Symphony, Its New Data Pipeline Software


Nov. 20 2020, Updated 12:00 p.m. ET

IHI’s large-cap performers

Large-cap stocks of the iShares US Medical Devices (IHI) remained positive on June 2, 2016. Top gainers include Medtronic (MDT) and Edwards Lifesciences (EW), which rose 3.1% and 2.3%, respectively. Another top performer was Waters (WAT), which rose 0.9%. The company was in the news with the introduction of its new data pipeline software.

In a June 2, 2016, press release, Waters announced the introduction of “Symphony Data Pipeline software, a client-server application for laboratories acquiring and archiving large amounts of data. Symphony software automates the movement and transformation of large amounts of LC-MS data to speed up analytical workflows and save time, reduce human error, and liberate scientists from the mundane yet necessary tasks associated with managing data files.”

Waters closed at $139.76 that day and was trading above the 20-day moving average price of $135.20. The stock has risen 3.9% on a year-to-date basis. About 4% of the total outstanding shares are in a short position according to the latest available data.

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Waters’ relative strength index (RSI) at 63 indicates that the stock is neither overbought nor oversold. As of June 2, 2016, the stock was trading at a 2016 forward PE (price-to-earnings) multiple of ~22.0x. Waters’ book value is $25.97 per share. At its current price, the stock is trading at a price-to-book value of ~5.40x.

Analyst recommendations and estimates

Analysts’ 12-month consensus estimate for a target price for Waters is $138.50. That’s 0.9% below its current price. However, Cantor Fitzgerald has recommended a target price of $163 for the stock. Four analysts have recommended a “buy” for the stock. Sixteen analysts have recommended a “hold,” and one analyst has recommended a “sell.” Waters has a weight of ~2.4% in IHI’s portfolio.

Large-cap underperformer

Abbott Laboratories (ABT) was the most underperforming IHI large-cap stock on June 2, 2016. It rose only 0.1%. There’s talk on Wall Street that Abbott Laboratories is looking to land a $5.8 billion deal with Alere (ALR), although there are corruption investigations in some overseas units of Alere.

Abbott closed at $39.53 on June 2 and was trading above the 20-day moving average. The stock has fallen 12% on a year-to-date basis. It has a weight of ~8.3% in IHI’s portfolio.

In the next part, we’ll take a look at NuVasive and its upward movement on high trading volumes.


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