Wealthfront Advisers LLC Raises Position in Waters Co. (NYSE:WAT)

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Wealthfront Advisers LLC increased its stake in shares of Waters Co. (NYSE:WAT) by 4.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,683 shares of the medical instruments supplier’s stock after buying an additional 74 shares during the period. Wealthfront Advisers LLC’s holdings in Waters were worth $424,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WAT. Morgan Stanley lifted its stake in Waters by 188.1% in the 3rd quarter. Morgan Stanley now owns 527,562 shares of the medical instruments supplier’s stock worth $102,707,000 after purchasing an additional 344,432 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Waters in the 4th quarter worth approximately $145,000. Creative Planning purchased a new position in Waters in the 4th quarter worth approximately $293,000. BB&T Securities LLC purchased a new position in Waters in the 4th quarter worth approximately $497,000. Finally, Chicago Equity Partners LLC purchased a new position in Waters in the 4th quarter worth approximately $275,000. Institutional investors and hedge funds own 92.63% of the company’s stock.

A number of research analysts have weighed in on WAT shares. Zacks Investment Research lowered shares of Waters from a “hold” rating to a “sell” rating in a research note on Monday, April 29th. Cleveland Research lowered shares of Waters from a “neutral” rating to an “underperform” rating in a research note on Wednesday. Barclays decreased their target price on shares of Waters from $218.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 24th. Wolfe Research started coverage on shares of Waters in a research note on Thursday, May 30th. They issued an “underperform” rating on the stock. Finally, ValuEngine lowered shares of Waters from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $208.71.

Shares of NYSE WAT opened at $203.20 on Friday. The company has a market cap of $14.12 billion, a PE ratio of 24.51, a PEG ratio of 2.14 and a beta of 1.08. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.44 and a quick ratio of 2.89. Waters Co. has a 1 year low of $167.93 and a 1 year high of $255.21.

Waters (NYSE:WAT) last announced its quarterly earnings results on Tuesday, April 23rd. The medical instruments supplier reported $1.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.13). The firm had revenue of $513.90 million for the quarter, compared to analyst estimates of $545.82 million. Waters had a return on equity of 39.64% and a net margin of 24.59%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.59 EPS. On average, sell-side analysts expect that Waters Co. will post 9.11 EPS for the current fiscal year.

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Waters Profile

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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Institutional Ownership by Quarter for Waters (NYSE:WAT)

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