Fernwood Investment Management LLC trimmed its position in Waters Co. (NYSE:WAT) by 6.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,825 shares of the medical instruments supplier’s stock after selling 200 shares during the quarter. Fernwood Investment Management LLC’s holdings in Waters were worth $608,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Fundsmith LLP raised its holdings in shares of Waters by 0.9% in the 1st quarter. Fundsmith LLP now owns 5,026,757 shares of the medical instruments supplier’s stock valued at $1,265,285,000 after purchasing an additional 43,498 shares during the period. Geode Capital Management LLC raised its holdings in Waters by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 1,025,341 shares of the medical instruments supplier’s stock valued at $193,104,000 after acquiring an additional 50,700 shares during the period. Northern Trust Corp raised its holdings in Waters by 5.9% in the 1st quarter. Northern Trust Corp now owns 991,892 shares of the medical instruments supplier’s stock valued at $249,670,000 after acquiring an additional 54,938 shares during the period. Champlain Investment Partners LLC raised its holdings in Waters by 1.5% in the 1st quarter. Champlain Investment Partners LLC now owns 838,625 shares of the medical instruments supplier’s stock valued at $211,090,000 after acquiring an additional 12,365 shares during the period. Finally, FMR LLC raised its holdings in Waters by 88.8% in the 1st quarter. FMR LLC now owns 382,877 shares of the medical instruments supplier’s stock valued at $96,374,000 after acquiring an additional 180,046 shares during the period. 96.08% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on the stock. UBS Group lowered their price target on shares of Waters from $248.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. ValuEngine cut shares of Waters from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Cleveland Research cut shares of Waters from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 12th. Zacks Investment Research raised shares of Waters from a “sell” rating to a “hold” rating and set a $217.00 price target on the stock in a report on Wednesday, May 22nd. Finally, Robert W. Baird lowered their price target on shares of Waters from $211.00 to $209.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $210.54.
Waters stock traded up $1.99 during trading hours on Thursday, hitting $202.03. The company had a trading volume of 9,790 shares, compared to its average volume of 581,731. Waters Co. has a one year low of $167.93 and a one year high of $255.21. The business’s 50-day moving average is $214.55. The stock has a market capitalization of $13.35 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.30 and a beta of 1.07. The company has a current ratio of 2.65, a quick ratio of 2.07 and a debt-to-equity ratio of 2.00.
Waters (NYSE:WAT) last announced its earnings results on Tuesday, July 30th. The medical instruments supplier reported $2.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.03. Waters had a net margin of 24.09% and a return on equity of 50.64%. The company had revenue of $599.20 million for the quarter, compared to analysts’ expectations of $601.46 million. During the same period last year, the firm earned $1.95 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. Equities analysts expect that Waters Co. will post 9.01 earnings per share for the current year.
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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