Avanza Fonder AB Has $1.56 Million Holdings in Waters Co. (NYSE:WAT)

Avanza Fonder AB cut its holdings in shares of Waters Co. (NYSE:WAT) by 3.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,311 shares of the medical instruments supplier’s stock after selling 134 shares during the quarter. Avanza Fonder AB’s holdings in Waters were worth $1,563,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. boosted its position in Waters by 15.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,587 shares of the medical instruments supplier’s stock worth $1,331,000 after acquiring an additional 482 shares during the period. Savant Capital LLC boosted its position in Waters by 3.8% during the 4th quarter. Savant Capital LLC now owns 1,704 shares of the medical instruments supplier’s stock worth $632,000 after acquiring an additional 63 shares during the period. Truist Financial Corp lifted its holdings in shares of Waters by 60.6% during the 4th quarter. Truist Financial Corp now owns 5,098 shares of the medical instruments supplier’s stock valued at $1,891,000 after buying an additional 1,924 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Waters by 0.3% during the 4th quarter. Victory Capital Management Inc. now owns 26,864 shares of the medical instruments supplier’s stock valued at $9,966,000 after buying an additional 79 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Waters during the 4th quarter valued at about $42,114,000. 94.01% of the stock is currently owned by institutional investors and hedge funds.

Waters Stock Performance

Shares of NYSE WAT opened at $346.59 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.94 and a debt-to-equity ratio of 1.14. The business’s 50 day moving average is $341.53 and its two-hundred day moving average is $368.53. The company has a market cap of $20.63 billion, a P/E ratio of 32.36, a P/E/G ratio of 3.79 and a beta of 1.11. Waters Co. has a 12 month low of $279.24 and a 12 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 EPS for the quarter, topping the consensus estimate of $2.22 by $0.03. The company 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 company’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 posted $2.21 EPS. On average, equities analysts expect that Waters Co. will post 12.86 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Scotiabank upgraded Waters from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $430.00 to $450.00 in a report on Thursday, February 13th. Robert W. Baird lifted their price target on Waters from $355.00 to $374.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price target on Waters from $380.00 to $390.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Barclays reduced their target price on Waters from $400.00 to $350.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. Finally, UBS Group reduced their target price on Waters from $415.00 to $360.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Ten investment 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 stock. According to MarketBeat, Waters presently has an average rating of “Moderate Buy” and a consensus target price of $390.19.

Waters Company 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.