Manchester Capital Management LLC Lowers Holdings in Waters Corporation (NYSE:WAT)

Manchester Capital Management LLC trimmed its position in Waters Corporation (NYSE:WAT) by 21.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 306 shares of the medical instruments supplier’s stock after selling 85 shares during the period. Manchester Capital Management LLC’s holdings in Waters were worth $113,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Olde Wealth Management LLC bought a new stake in Waters during the first quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Waters in the 4th quarter valued at about $28,000. IFP Advisors Inc boosted its position in shares of Waters by 118.9% during the 1st quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 44 shares during the last quarter. Whipplewood Advisors LLC grew its holdings in shares of Waters by 5,200.0% during the first quarter. Whipplewood Advisors LLC now owns 106 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 104 shares in the last quarter. Finally, CX Institutional bought a new position in shares of Waters in the first quarter worth approximately $75,000. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Waters Stock Down 1.5%

Shares of NYSE WAT opened at $285.97 on Tuesday. The firm’s fifty day moving average is $331.36 and its 200 day moving average is $353.61. Waters Corporation has a 52 week low of $279.19 and a 52 week high of $423.56. The company has a quick ratio of 1.28, a current ratio of 1.81 and a debt-to-equity ratio of 0.69. The company has a market cap of $17.02 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 2.87 and a beta of 1.05.

Waters (NYSE:WAT) last released its quarterly earnings data on Monday, August 4th. The medical instruments supplier reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.02. The firm had revenue of $771.33 million for the quarter, compared to analysts’ expectations of $745.96 million. Waters had a net margin of 22.02% and a return on equity of 41.70%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.63 earnings per share. On average, equities research analysts expect that Waters Corporation will post 12.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays cut their price target on shares of Waters from $400.00 to $350.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Scotiabank reissued a “sector outperform” rating and issued a $465.00 target price on shares of Waters in a research note on Friday, July 11th. Sanford C. Bernstein set a $400.00 price target on Waters and gave the stock an “outperform” rating in a research note on Wednesday, April 16th. Wall Street Zen lowered Waters from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Jefferies Financial Group decreased their price objective on Waters from $435.00 to $385.00 and set a “buy” rating on the stock in a report on Monday. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $380.40.

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.