Kestra Private Wealth Services LLC bought a new position in shares of Waters Co. (NYSE:WAT – Get Rating) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 753 shares of the medical instruments supplier's stock, valued at approximately $234,000.
A number of other hedge funds have also modified their holdings of WAT. Wellington Management Group LLP raised its holdings in Waters by 79.6% in the 1st quarter. Wellington Management Group LLP now owns 1,504,592 shares of the medical instruments supplier's stock valued at $467,011,000 after acquiring an additional 666,851 shares during the last quarter. Norges Bank purchased a new stake in Waters in the 4th quarter valued at $189,516,000. BlackRock Inc. raised its holdings in shares of Waters by 5.8% during the 4th quarter. BlackRock Inc. now owns 6,069,554 shares of the medical instruments supplier's stock worth $2,261,515,000 after acquiring an additional 331,610 shares during the period. Invesco Ltd. boosted its position in shares of Waters by 15.5% during the 4th quarter. Invesco Ltd. now owns 969,123 shares of the medical instruments supplier's stock valued at $361,093,000 after acquiring an additional 129,837 shares during the last quarter. Finally, Eaton Vance Management grew its holdings in shares of Waters by 43.9% in the fourth quarter. Eaton Vance Management now owns 372,492 shares of the medical instruments supplier's stock valued at $138,413,000 after purchasing an additional 113,693 shares during the period. 88.80% of the stock is currently owned by institutional investors and hedge funds.
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Analyst Ratings Changes
Several analysts have recently commented on the stock. Cowen lifted their price target on shares of Waters to $378.00 in a research report on Tuesday, August 9th. Credit Suisse Group initiated coverage on Waters in a report on Wednesday, August 24th. They set a "neutral" rating and a $345.00 price target for the company. UBS Group upped their target price on shares of Waters from $349.00 to $375.00 and gave the company a "neutral" rating in a research report on Thursday, August 4th. Robert W. Baird lifted their price target on shares of Waters from $340.00 to $348.00 in a research report on Wednesday, August 3rd. Finally, Barclays lowered their price objective on shares of Waters from $375.00 to $345.00 and set an "overweight" rating for the company in a research report on Monday, September 12th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Waters has an average rating of "Hold" and an average price target of $348.25.
Waters Trading Down 0.4 %
WAT opened at $280.94 on Thursday. The company has a debt-to-equity ratio of 3.66, a current ratio of 2.10 and a quick ratio of 1.55. The stock has a market capitalization of $16.82 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 3.15 and a beta of 0.87. The business has a fifty day moving average price of $321.60 and a 200 day moving average price of $321.19. Waters Co. has a 12 month low of $279.15 and a 12 month high of $405.06.
Waters (NYSE:WAT – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The medical instruments supplier reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.63 by $0.12. The business had revenue of $714.30 million during the quarter, compared to the consensus estimate of $706.77 million. Waters had a return on equity of 203.31% and a net margin of 24.21%. The business's revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.60 earnings per share. Sell-side analysts expect that Waters Co. will post 12 earnings per share for the current fiscal year.
About Waters
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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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