Waters Co. (NYSE:WAT) Stake Trimmed by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its stake in Waters Co. (NYSE:WAT) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,468 shares of the medical instruments supplier’s stock after selling 1,762 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Waters were worth $9,819,000 as of its most recent filing with the Securities and Exchange Commission.

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

Waters Trading Down 0.5%

Shares of NYSE WAT opened at $346.59 on Tuesday. The stock has a market cap of $20.63 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 3.79 and a beta of 1.14. The business has a 50 day simple moving average of $343.94 and a 200 day simple moving average of $370.06. Waters Co. has a 52 week low of $279.24 and a 52 week high of $423.56. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.65 and a current ratio of 0.94.

Waters (NYSE:WAT) last posted 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. Waters had a return on equity of 46.31% and a net margin of 21.56%. The firm had revenue of $661.71 million during the quarter, compared to analyst estimates of $655.50 million. During the same period in the previous year, the company earned $2.21 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, research analysts predict that Waters Co. will post 12.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wall Street Zen raised Waters from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Robert W. Baird lifted their target price on Waters from $355.00 to $374.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Scotiabank raised Waters from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $430.00 to $450.00 in a research note on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on Waters from $380.00 to $390.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. Finally, Barclays lowered their target price on Waters from $400.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Waters has a consensus rating of “Moderate Buy” and a consensus price target of $390.19.

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.