Waters Co. (NYSE:WAT) Stock Holdings Cut by Fundsmith Investment Services LTD.

Fundsmith Investment Services LTD. reduced its holdings in Waters Co. (NYSE:WAT) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,224,932 shares of the medical instruments supplier’s stock after selling 3,435 shares during the period. Waters comprises approximately 5.9% of Fundsmith Investment Services LTD.’s portfolio, making the stock its 6th biggest holding. Fundsmith Investment Services LTD.’s holdings in Waters were worth $454,425,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Wealthfront Advisers LLC grew its holdings in Waters by 106,144.4% during the 4th quarter. Wealthfront Advisers LLC now owns 3,087,461 shares of the medical instruments supplier’s stock valued at $1,145,386,000 after purchasing an additional 3,084,555 shares during the last quarter. Norges Bank bought a new stake in shares of Waters during the 4th quarter worth approximately $284,415,000. Madison Investment Advisors LLC bought a new position in Waters in the 4th quarter valued at $104,645,000. Principal Financial Group Inc. increased its stake in Waters by 70.7% in the third quarter. Principal Financial Group Inc. now owns 656,019 shares of the medical instruments supplier’s stock worth $236,095,000 after purchasing an additional 271,804 shares during the period. Finally, Marshall Wace LLP lifted its position in shares of Waters by 438.0% during the fourth quarter. Marshall Wace LLP now owns 303,076 shares of the medical instruments supplier’s stock worth $112,435,000 after purchasing an additional 246,738 shares during the last quarter. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WAT has been the topic of several recent analyst reports. Baird R W raised shares of Waters from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 26th. Sanford C. Bernstein set a $400.00 target price on shares of Waters and gave the stock an “outperform” rating in a research report on Wednesday, April 16th. Robert W. Baird boosted their price target on Waters from $355.00 to $374.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group reduced their price objective on Waters from $415.00 to $360.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company upped their target price on Waters from $415.00 to $420.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waters presently has an average rating of “Moderate Buy” and a consensus price target of $390.19.

Waters Price Performance

NYSE WAT opened at $344.99 on Thursday. The firm’s fifty day simple moving average is $350.46 and its two-hundred day simple moving average is $369.80. The firm has a market capitalization of $20.53 billion, a P/E ratio of 32.21, a P/E/G ratio of 3.79 and a beta of 1.14. The company has a current ratio of 0.94, a quick ratio of 0.65 and a debt-to-equity ratio of 1.14. Waters Co. has a 12-month low of $279.24 and a 12-month high of $423.56.

Waters (NYSE:WAT) last announced its earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.03. The firm had revenue of $661.71 million for the quarter, compared to the consensus estimate of $655.50 million. Waters had a return on equity of 46.31% and a net margin of 21.56%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 EPS. Analysts forecast that Waters Co. will post 12.86 EPS for the current fiscal year.

Waters Profile

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.