Foguth Wealth Management LLC. Invests $2.77 Million in Waters Co. (NYSE:WAT)

Foguth Wealth Management LLC. purchased a new position in Waters Co. (NYSE:WAT) during the 1st quarter, HoldingsChannel reports. The fund purchased 8,056 shares of the medical instruments supplier’s stock, valued at approximately $2,773,000. Waters accounts for 1.5% of Foguth Wealth Management LLC.’s holdings, making the stock its 24th largest position.

Other institutional investors have also recently made changes to their positions in the company. GUARDCAP ASSET MANAGEMENT Ltd purchased a new position in Waters in the fourth quarter worth $361,839,000. Norges Bank purchased a new position in Waters in the fourth quarter worth $206,286,000. London Co. of Virginia purchased a new stake in Waters during the third quarter valued at about $158,723,000. Nordea Investment Management AB boosted its holdings in shares of Waters by 129.9% during the fourth quarter. Nordea Investment Management AB now owns 973,537 shares of the medical instruments supplier’s stock worth $322,017,000 after purchasing an additional 550,112 shares during the period. Finally, Nuance Investments LLC raised its stake in Waters by 356.0% in the fourth quarter. Nuance Investments LLC now owns 419,363 shares of the medical instruments supplier’s stock worth $138,067,000 after buying an additional 327,389 shares in the last quarter. Institutional investors own 94.01% of the company’s stock.

Wall Street Analyst Weigh In

WAT has been the subject of a number of research reports. Jefferies Financial Group began coverage on shares of Waters in a research note on Monday, June 3rd. They issued a “hold” rating and a $320.00 price target for the company. TD Cowen increased their price target on shares of Waters from $350.00 to $358.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Stifel Nicolaus increased their price target on shares of Waters from $330.00 to $332.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Evercore ISI increased their price target on shares of Waters from $320.00 to $340.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Finally, Barclays dropped their target price on shares of Waters from $295.00 to $275.00 and set an “underweight” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the stock. Based on data from MarketBeat.com, Waters currently has a consensus rating of “Hold” and a consensus target price of $305.20.

Insiders Place Their Bets

In other Waters news, Director Christopher A. Kuebler sold 4,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total value of $1,446,560.00. Following the sale, the director now owns 14,716 shares in the company, valued at approximately $5,321,894.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Waters news, Director Richard H. Fearon bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average cost of $332.90 per share, for a total transaction of $332,900.00. Following the transaction, the director now owns 1,653 shares of the company’s stock, valued at $550,283.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christopher A. Kuebler sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total transaction of $1,446,560.00. Following the sale, the director now owns 14,716 shares in the company, valued at $5,321,894.24. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Waters Price Performance

Shares of WAT traded up $3.65 during trading hours on Friday, reaching $290.12. 1,130,356 shares of the stock traded hands, compared to its average volume of 511,601. The company has a current ratio of 1.94, a quick ratio of 1.30 and a debt-to-equity ratio of 1.60. Waters Co. has a 52-week low of $231.90 and a 52-week high of $367.21. The company’s 50-day moving average price is $316.59 and its two-hundred day moving average price is $324.04. The company has a market cap of $17.21 billion, a P/E ratio of 28.47, a price-to-earnings-growth ratio of 4.62 and a beta of 0.97.

Waters (NYSE:WAT) last released its earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.11. The company had revenue of $636.80 million for the quarter, compared to analysts’ expectations of $635.57 million. Waters had a net margin of 20.75% and a return on equity of 66.59%. Waters’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.49 EPS. On average, analysts anticipate that Waters Co. will post 11.85 earnings per share for the current year.

About Waters

Waters Corporation 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.