State of Alaska Department of Revenue lowered its position in Waters Co. (NYSE:WAT – Get Rating) by 43.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 15,796 shares of the medical instruments supplier’s stock after selling 12,230 shares during the period. State of Alaska Department of Revenue’s holdings in Waters were worth $5,227,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Waters by 79.6% during the 1st quarter. Wellington Management Group LLP now owns 1,504,592 shares of the medical instruments supplier’s stock worth $467,011,000 after acquiring an additional 666,851 shares during the period. Norges Bank purchased a new position in shares of Waters during the 4th quarter worth $189,516,000. BlackRock Inc. raised its holdings in shares of Waters by 5.8% during the 4th quarter. BlackRock Inc. now owns 6,069,554 shares of the medical instruments supplier’s stock worth $2,261,515,000 after acquiring an additional 331,610 shares during the period. Invesco Ltd. raised its holdings in shares of Waters by 15.5% during the 4th quarter. Invesco Ltd. now owns 969,123 shares of the medical instruments supplier’s stock worth $361,093,000 after acquiring an additional 129,837 shares during the period. Finally, Schroder Investment Management Group raised its holdings in shares of Waters by 124.6% during the 4th quarter. Schroder Investment Management Group now owns 229,736 shares of the medical instruments supplier’s stock worth $85,599,000 after acquiring an additional 127,458 shares during the period. Hedge funds and other institutional investors own 88.80% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on WAT shares. Barclays reduced their price objective on shares of Waters from $375.00 to $345.00 and set an “overweight” rating on the stock in a report on Monday, September 12th. Robert W. Baird boosted their price objective on shares of Waters from $340.00 to $348.00 in a report on Wednesday, August 3rd. Credit Suisse Group started coverage on shares of Waters in a report on Wednesday, August 24th. They issued a “neutral” rating and a $345.00 price objective on the stock. UBS Group boosted their price objective on shares of Waters from $349.00 to $375.00 and gave the company a “neutral” rating in a report on Thursday, August 4th. Finally, Cowen boosted their price objective on shares of Waters to $378.00 in a report on Tuesday, August 9th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Waters currently has a consensus rating of “Hold” and an average target price of $348.25.
Waters Stock Performance
Waters (NYSE:WAT – Get Rating) last released its earnings results on Tuesday, August 2nd. The medical instruments supplier reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.12. The company had revenue of $714.30 million during the quarter, compared to the consensus estimate of $706.77 million. Waters had a return on equity of 203.31% and a net margin of 24.21%. Waters’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.60 EPS. As a group, analysts anticipate that Waters Co. will post 12 EPS for the current year.
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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