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Teachers Retirement System of The State of Kentucky Has $1.44 Million Stock Position in Waters Co. (NYSE:WAT)

Defense World ·  Sep 23, 2022 05:02

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of Waters Co. (NYSE:WAT – Get Rating) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,624 shares of the medical instruments supplier's stock after selling 201 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Waters were worth $1,435,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WAT. Wellington Management Group LLP grew its holdings in shares of Waters by 79.6% during the first quarter. Wellington Management Group LLP now owns 1,504,592 shares of the medical instruments supplier's stock valued at $467,011,000 after buying an additional 666,851 shares during the last quarter. Norges Bank acquired a new position in shares of Waters during the fourth quarter valued at about $189,516,000. BlackRock Inc. grew its holdings in shares of Waters by 5.8% during the fourth quarter. BlackRock Inc. now owns 6,069,554 shares of the medical instruments supplier's stock valued at $2,261,515,000 after buying an additional 331,610 shares during the last quarter. Eaton Vance Management grew its holdings in shares of Waters by 43.9% during the fourth quarter. Eaton Vance Management now owns 372,492 shares of the medical instruments supplier's stock valued at $138,413,000 after buying an additional 113,693 shares during the last quarter. Finally, Impax Asset Management Group plc grew its holdings in shares of Waters by 15.9% during the fourth quarter. Impax Asset Management Group plc now owns 717,812 shares of the medical instruments supplier's stock valued at $267,456,000 after buying an additional 98,490 shares during the last quarter. 88.80% of the stock is currently owned by institutional investors and hedge funds.

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Waters Price Performance

Waters stock opened at $275.12 on Friday. Waters Co. has a 12 month low of $274.67 and a 12 month high of $405.06. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 3.66. The business's 50 day simple moving average is $320.53 and its 200 day simple moving average is $320.92. The company has a market cap of $16.47 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 3.06 and a beta of 0.87.

Waters (NYSE:WAT – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The medical instruments supplier reported $2.75 EPS for the quarter, beating the consensus estimate of $2.63 by $0.12. Waters had a return on equity of 203.31% and a net margin of 24.21%. The business had revenue of $714.30 million for the quarter, compared to the consensus estimate of $706.77 million. During the same quarter in the prior year, the business earned $2.60 earnings per share. Waters's revenue for the quarter was up 4.8% on a year-over-year basis. Sell-side analysts forecast that Waters Co. will post 12 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on WAT. Cowen raised their price target on shares of Waters to $378.00 in a research report on Tuesday, August 9th. Robert W. Baird raised their price target on shares of Waters from $340.00 to $348.00 in a research report on Wednesday, August 3rd. Barclays dropped their price target on shares of Waters from $375.00 to $345.00 and set an "overweight" rating on the stock in a research report on Monday, September 12th. Credit Suisse Group began coverage on shares of Waters in a research report on Wednesday, August 24th. They set a "neutral" rating and a $345.00 price target on the stock. Finally, UBS Group raised their price target 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $348.25.

Waters Profile

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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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