Welch & Forbes LLC bought a new stake in Waters Corporation (NYSE:WAT – Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,771 shares of the medical instruments supplier’s stock, valued at approximately $2,975,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. California Public Employees Retirement System raised its holdings in shares of Waters by 25.4% during the first quarter. California Public Employees Retirement System now owns 138,423 shares of the medical instruments supplier’s stock worth $41,222,000 after purchasing an additional 28,074 shares during the last quarter. Dudley & Shanley Inc. lifted its position in Waters by 101.3% during the second quarter. Dudley & Shanley Inc. now owns 23,590 shares of the medical instruments supplier’s stock valued at $8,847,000 after purchasing an additional 11,870 shares during the period. Hahn Capital Management LLC acquired a new position in Waters during the first quarter valued at $1,490,000. Handelsbanken Fonder AB boosted its holdings in Waters by 93.1% in the second quarter. Handelsbanken Fonder AB now owns 93,653 shares of the medical instruments supplier’s stock valued at $35,124,000 after purchasing an additional 45,145 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Waters by 18.4% in the second quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 95,028 shares of the medical instruments supplier’s stock valued at $35,639,000 after purchasing an additional 14,754 shares during the last quarter. Institutional investors and hedge funds own 94.01% of the company’s stock.
Waters Stock Performance
WAT opened at $476.13 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.66 and a quick ratio of 0.40. The firm has a fifty day moving average price of $437.19 and a 200 day moving average price of $373.01. Waters Corporation has a 1 year low of $282.77 and a 1 year high of $482.28. The stock has a market cap of $46.78 billion, a P/E ratio of 204.35, a P/E/G ratio of 2.71 and a beta of 1.16.
Waters (NYSE:WAT – Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The medical instruments supplier reported $4.10 EPS for the quarter, beating the consensus estimate of $4.00 by $0.10. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.75 billion. Waters had a net margin of 1.75% and a return on equity of 9.91%. The firm’s revenue was up 120.9% on a year-over-year basis. During the same quarter last year, the business earned $3.40 earnings per share. Equities research analysts anticipate that Waters Corporation will post 14.65 earnings per share for the current year.
Wall Street Analyst Weigh In
Several brokerages have weighed in on WAT. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $535.00 price target on shares of Waters in a research report on Wednesday, November 4th. Wells Fargo & Company boosted their price objective on Waters from $370.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Evercore upped their target price on Waters from $410.00 to $480.00 in a research note on Wednesday, October 7th. Jefferies Financial Group upped their target price on Waters from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Robert W. Baird raised their target price on Waters from $456.00 to $495.00 and gave the stock an “outperform” rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Waters has a consensus rating of “Moderate Buy” and a consensus price target of $475.48.
Check Out Our Latest Analysis on WAT
Waters Profile
Waters Corporation develops and supplies analytical instruments, software, and consumables used to identify, measure, and characterize chemical and biological materials. Its products include liquid chromatography and mass spectrometry systems, which help customers analyze complex samples. The company serves pharmaceutical and biotechnology businesses, academic and government laboratories, and customers in fields such as food, environmental testing, and materials science. Waters operates internationally, with customers and operations across multiple regions.
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