USS Investment Management Ltd Reduces Stake in Waters Co. (NYSE:WAT)

USS Investment Management Ltd lowered its position in Waters Co. (NYSE:WAT) by 18.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,738 shares of the medical instruments supplier’s stock after selling 5,613 shares during the period. USS Investment Management Ltd’s holdings in Waters were worth $9,166,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Waters during the 4th quarter valued at about $28,000. Bank of Jackson Hole Trust bought a new position in shares of Waters in the 4th quarter worth approximately $34,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Waters by 129.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier’s stock worth $35,000 after buying an additional 53 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Waters during the fourth quarter valued at approximately $42,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Waters by 54.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 125 shares of the medical instruments supplier’s stock valued at $46,000 after buying an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on WAT. Bank of America dropped their price target on shares of Waters from $430.00 to $410.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Robert W. Baird raised their target price on Waters from $355.00 to $374.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. StockNews.com lowered Waters from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Barclays reduced their price target on Waters from $400.00 to $350.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Finally, Scotiabank raised Waters from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $430.00 to $450.00 in a research report on Thursday, February 13th. Ten research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $390.19.

Waters Trading Down 4.2%

WAT stock opened at $347.04 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.94 and a quick ratio of 0.65. Waters Co. has a 1-year low of $279.24 and a 1-year high of $423.56. The business has a 50 day simple moving average of $345.76 and a two-hundred day simple moving average of $371.10. The company has a market capitalization of $20.65 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 3.79 and a beta of 1.14.

Waters (NYSE:WAT) last released its earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 EPS 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 net margin of 21.56% and a return on equity of 46.31%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 earnings per share. Research analysts anticipate that Waters Co. will post 12.86 EPS for the current fiscal year.

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.