CI Investments Inc. trimmed its holdings in shares of Waters Co. (NYSE:WAT – Get Rating) by 45.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 311 shares of the medical instruments supplier’s stock after selling 254 shares during the period. CI Investments Inc.’s holdings in Waters were worth $97,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of WAT. Ellevest Inc. boosted its holdings in Waters by 144.4% during the 1st quarter. Ellevest Inc. now owns 88 shares of the medical instruments supplier’s stock valued at $27,000 after acquiring an additional 52 shares during the period. Kenfarb & CO. bought a new position in shares of Waters in the fourth quarter worth approximately $48,000. Tyler Stone Wealth Management purchased a new position in shares of Waters in the fourth quarter worth $56,000. Covestor Ltd bought a new stake in Waters during the 4th quarter valued at $58,000. Finally, Quent Capital LLC purchased a new stake in Waters during the 4th quarter valued at $75,000. 88.80% of the stock is owned by institutional investors.
Waters Stock Performance
Shares of Waters stock opened at $302.58 on Thursday. Waters Co. has a 12 month low of $288.32 and a 12 month high of $428.22. The firm has a market capitalization of $18.12 billion, a P/E ratio of 26.40, a P/E/G ratio of 3.23 and a beta of 0.87. 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 has a fifty day simple moving average of $330.31 and a two-hundred day simple moving average of $322.56.
Waters (NYSE:WAT – Get Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The medical instruments supplier reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.12. Waters had a net margin of 24.21% and a return on equity of 203.31%. The company had revenue of $714.30 million during the quarter, compared to analysts’ expectations of $706.77 million. During the same period last year, the company posted $2.60 EPS. Waters’s revenue was up 4.8% on a year-over-year basis. On average, equities analysts forecast that Waters Co. will post 12 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on WAT. UBS Group boosted their price objective 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. Credit Suisse Group started coverage on Waters in a report on Wednesday, August 24th. They set a “neutral” rating and a $345.00 price target on the stock. Bank of America upgraded Waters from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $320.00 to $330.00 in a report on Tuesday, May 17th. Robert W. Baird boosted their target price on Waters from $340.00 to $348.00 in a research note on Wednesday, August 3rd. Finally, Cowen raised their price target on Waters to $378.00 in a research note on Tuesday, August 9th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Waters has an average rating of “Hold” and an average target price of $352.00.
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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