Whittier Trust Co. lifted its stake in shares of Waters Co. (NYSE:WAT – Free Report) by 7.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 520 shares of the medical instruments supplier’s stock after buying an additional 38 shares during the period. Whittier Trust Co.’s holdings in Waters were worth $161,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. ING Groep NV raised its position in Waters by 6.6% during the 4th quarter. ING Groep NV now owns 10,001 shares of the medical instruments supplier’s stock worth $3,426,000 after purchasing an additional 617 shares during the last quarter. Empirical Finance LLC raised its position in Waters by 4.5% during the 1st quarter. Empirical Finance LLC now owns 1,643 shares of the medical instruments supplier’s stock worth $509,000 after purchasing an additional 70 shares during the last quarter. Kepos Capital LP bought a new position in Waters during the 4th quarter worth $126,000. Maryland State Retirement & Pension System bought a new position in Waters during the 4th quarter worth $1,603,000. Finally, Oak Ridge Investments LLC raised its position in Waters by 8.8% during the 1st quarter. Oak Ridge Investments LLC now owns 2,023 shares of the medical instruments supplier’s stock worth $626,000 after purchasing an additional 164 shares during the last quarter. 90.09% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on WAT. Bank of America lowered their target price on Waters from $350.00 to $315.00 in a research report on Wednesday, May 10th. Barclays lowered their price objective on Waters from $325.00 to $290.00 in a research report on Tuesday, June 27th. Wells Fargo & Company lowered their price objective on Waters from $345.00 to $305.00 in a research report on Wednesday, May 10th. Robert W. Baird lowered their price objective on Waters from $345.00 to $288.00 in a research report on Wednesday, May 10th. Finally, StockNews.com lowered Waters from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $332.09.
Waters Stock Performance
Waters (NYSE:WAT – Free Report) last released its quarterly earnings results on Tuesday, May 9th. The medical instruments supplier reported $2.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.60 by ($0.11). The company had revenue of $684.67 million for the quarter, compared to analyst estimates of $697.86 million. Waters had a net margin of 23.22% and a return on equity of 149.31%. Waters’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $2.80 EPS. On average, equities research analysts predict that Waters Co. will post 12.58 EPS for the current fiscal year.
Waters Profile
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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