CX Institutional Buys New Shares in Waters Co. (NYSE:WAT)

CX Institutional purchased a new position in Waters Co. (NYSE:WAT) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 203 shares of the medical instruments supplier’s stock, valued at approximately $75,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Brighton Jones LLC grew its position in shares of Waters by 112.9% during the fourth quarter. Brighton Jones LLC now owns 1,269 shares of the medical instruments supplier’s stock worth $471,000 after purchasing an additional 673 shares in the last quarter. Empowered Funds LLC boosted its stake in Waters by 3.0% in the 4th quarter. Empowered Funds LLC now owns 966 shares of the medical instruments supplier’s stock worth $358,000 after purchasing an additional 28 shares during the period. Principal Securities Inc. grew its holdings in Waters by 17.6% during the 4th quarter. Principal Securities Inc. now owns 1,420 shares of the medical instruments supplier’s stock valued at $527,000 after buying an additional 213 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Waters by 10.5% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,922 shares of the medical instruments supplier’s stock valued at $713,000 after buying an additional 183 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Waters by 11.1% during the fourth quarter. Principal Financial Group Inc. now owns 728,534 shares of the medical instruments supplier’s stock worth $270,272,000 after acquiring an additional 72,515 shares during the last quarter. 94.01% of the stock is owned by institutional investors.

Waters Price Performance

Waters stock opened at $347.84 on Tuesday. Waters Co. has a 12-month low of $279.24 and a 12-month high of $423.56. The company has a current ratio of 0.94, a quick ratio of 0.65 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average price of $343.56 and a 200-day moving average price of $367.49. The firm has a market capitalization of $20.70 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 3.79 and a beta of 1.11.

Waters (NYSE:WAT) last posted its quarterly earnings data on Tuesday, May 6th. The medical instruments supplier reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. Waters had a net margin of 21.56% and a return on equity of 46.31%. The company had revenue of $661.71 million for the quarter, compared to analyst estimates of $655.50 million. During the same period in the prior year, the company posted $2.21 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts forecast that Waters Co. will post 12.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WAT. KeyCorp upgraded shares of Waters from a “sector weight” rating to an “overweight” rating and set a $460.00 price target on the stock in a report on Monday, March 31st. Robert W. Baird lifted their target price on Waters from $355.00 to $374.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Sanford C. Bernstein set a $400.00 price target on Waters and gave the company an “outperform” rating in a research note on Wednesday, April 16th. UBS Group cut their price target on Waters from $415.00 to $360.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. upped their price objective on Waters from $380.00 to $390.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Ten analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $390.19.

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.