Waters Co. (NYSE:WAT) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. cut its holdings in Waters Co. (NYSE:WAT) by 7.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,953 shares of the medical instruments supplier’s stock after selling 3,061 shares during the quarter. Logan Capital Management Inc. owned 0.06% of Waters worth $13,338,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Aster Capital Management DIFC Ltd purchased a new position in shares of Waters in the fourth quarter valued at approximately $28,000. Bank of Jackson Hole Trust purchased a new stake in shares of Waters in the fourth quarter valued at about $34,000. Steward Partners Investment Advisory LLC raised its position in shares of Waters by 129.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after buying an additional 53 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in Waters in the fourth quarter valued at $42,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Waters by 54.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 125 shares of the medical instruments supplier’s stock worth $46,000 after buying an additional 44 shares during the period. 94.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Barclays lowered their target price on Waters from $400.00 to $350.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. increased their target price on Waters from $380.00 to $390.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Robert W. Baird lifted their price target on shares of Waters from $355.00 to $374.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Scotiabank upgraded shares of Waters from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $430.00 to $450.00 in a research report on Thursday, February 13th. Finally, Baird R W upgraded Waters from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 26th. 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $390.19.

Waters Price Performance

WAT opened at $343.73 on Monday. 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 company has a fifty day simple moving average of $349.55 and a 200 day simple moving average of $370.42. The firm has a market cap of $20.46 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 3.79 and a beta of 1.14. Waters Co. has a twelve month low of $279.24 and a twelve month high of $423.56.

Waters (NYSE:WAT) last issued its quarterly earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. The business had revenue of $661.71 million during 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 business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 EPS. Equities research analysts expect 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.