Private Advisor Group LLC Cuts Stake in Waters Corporation (NYSE:WAT)

Private Advisor Group LLC reduced its stake in shares of Waters Corporation (NYSE:WAT) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,429 shares of the medical instruments supplier’s stock after selling 90 shares during the period. Private Advisor Group LLC’s holdings in Waters were worth $2,001,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WAT. Olde Wealth Management LLC purchased a new position in shares of Waters during the 1st quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Waters during the 4th quarter worth about $28,000. Whipplewood Advisors LLC lifted its holdings in shares of Waters by 5,200.0% during the 1st quarter. Whipplewood Advisors LLC now owns 106 shares of the medical instruments supplier’s stock worth $39,000 after acquiring an additional 104 shares during the period. Murphy & Mullick Capital Management Corp purchased a new position in shares of Waters during the 4th quarter worth about $42,000. Finally, Mizuho Bank Ltd. purchased a new position in shares of Waters during the 4th quarter worth about $67,000. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Waters Stock Up 1.0%

Shares of NYSE:WAT opened at $298.49 on Friday. Waters Corporation has a 52-week low of $279.61 and a 52-week high of $423.56. The company has a quick ratio of 1.28, a current ratio of 1.81 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $17.76 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 2.92 and a beta of 1.10. The company has a 50 day moving average of $339.25 and a two-hundred day moving average of $358.68.

Waters (NYSE:WAT) last released its quarterly earnings results 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 22.02% and a return on equity of 41.70%. The business had revenue of $661.71 million during the quarter, compared to the consensus estimate of $655.50 million. During the same quarter last year, the company earned $2.21 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, analysts forecast that Waters Corporation will post 12.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on WAT shares. Robert W. Baird cut their price target on shares of Waters from $374.00 to $352.00 and set an “outperform” rating on the stock in a report on Wednesday, July 16th. Wells Fargo & Company lowered shares of Waters from a “strong-buy” rating to a “hold” rating and cut their price target for the company from $420.00 to $330.00 in a report on Tuesday, July 15th. UBS Group restated a “neutral” rating on shares of Waters in a report on Tuesday, July 15th. Sanford C. Bernstein set a $400.00 price target on shares of Waters and gave the company an “outperform” rating in a report on Wednesday, April 16th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Waters in a report on Monday, July 14th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Waters has a consensus rating of “Moderate Buy” and an average target price of $381.94.

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.