Vanguard Group Inc. Has $2.37 Billion Stake in Waters Co. (NYSE:WAT)

Vanguard Group Inc. lifted its stake in shares of Waters Co. (NYSE:WAT) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,879,316 shares of the medical instruments supplier’s stock after purchasing an additional 41,654 shares during the period. Vanguard Group Inc. owned approximately 11.60% of Waters worth $2,368,067,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in Waters in the fourth quarter valued at approximately $35,000. Raymond James Trust N.A. acquired a new position in Waters in the fourth quarter valued at approximately $454,000. GPS Wealth Strategies Group LLC lifted its holdings in Waters by 394.0% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 247 shares of the medical instruments supplier’s stock valued at $81,000 after buying an additional 197 shares during the period. AustralianSuper Pty Ltd lifted its holdings in Waters by 32.4% in the fourth quarter. AustralianSuper Pty Ltd now owns 13,066 shares of the medical instruments supplier’s stock valued at $4,302,000 after buying an additional 3,194 shares during the period. Finally, Raymond James & Associates lifted its holdings in Waters by 295.9% in the fourth quarter. Raymond James & Associates now owns 127,879 shares of the medical instruments supplier’s stock valued at $42,102,000 after buying an additional 95,577 shares during the period. 94.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WAT has been the topic of several analyst reports. Robert W. Baird cut their price objective on shares of Waters from $319.00 to $312.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Barclays lowered their target price on shares of Waters from $295.00 to $275.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. TD Cowen upped their target price on shares of Waters from $350.00 to $358.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Evercore ISI lowered their target price on shares of Waters from $320.00 to $300.00 and set an “in-line” rating for the company in a research note on Tuesday, July 2nd. Finally, Jefferies Financial Group assumed coverage on shares of Waters in a research note on Monday, June 3rd. They issued a “hold” rating and a $320.00 target price for the company. One research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to data from MarketBeat, Waters currently has an average rating of “Hold” and a consensus price target of $301.20.

Waters Stock Down 2.0 %

Shares of WAT stock traded down $6.26 during trading hours on Friday, hitting $302.72. 386,853 shares of the company were exchanged, compared to its average volume of 431,664. The business has a 50 day moving average of $309.75 and a two-hundred day moving average of $320.77. 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 has a market capitalization of $17.96 billion, a PE ratio of 29.71, a PEG ratio of 4.82 and a beta of 0.95.

Waters (NYSE:WAT) last announced its earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 EPS for the quarter, topping the consensus estimate of $2.10 by $0.11. Waters had a net margin of 20.75% and a return on equity of 66.59%. The business had revenue of $636.80 million during the quarter, compared to analysts’ expectations of $635.57 million. During the same quarter in the prior year, the company posted $2.49 earnings per share. The firm’s revenue was down 7.0% on a year-over-year basis. Analysts anticipate that Waters Co. will post 11.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Waters news, Director Richard H. Fearon bought 1,000 shares of Waters stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average price of $332.90 per share, for a total transaction of $332,900.00. Following the completion of the acquisition, the director now owns 1,653 shares of the company’s stock, valued at approximately $550,283.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Waters news, Director Christopher A. Kuebler sold 4,000 shares of the 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 completion of the sale, the director now owns 14,716 shares in the company, valued at $5,321,894.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard H. Fearon purchased 1,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was purchased at an average price of $332.90 per share, with a total value of $332,900.00. Following the purchase, the director now owns 1,653 shares of the company’s stock, valued at $550,283.70. The disclosure for this purchase can be found here. 0.82% of the stock is currently owned by corporate insiders.

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.