Rehmann Capital Advisory Group Invests $221,000 in Waters Corporation $WAT

Rehmann Capital Advisory Group purchased a new position in Waters Corporation (NYSE:WAT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 633 shares of the medical instruments supplier’s stock, valued at approximately $221,000.

A number of other hedge funds have also modified their holdings of WAT. Olde Wealth Management LLC acquired a new position in shares of Waters in the first quarter worth $25,000. Zions Bancorporation National Association UT acquired a new position in shares of Waters in the first quarter worth $28,000. IFP Advisors Inc increased its stake in shares of Waters by 118.9% in the first quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier’s stock worth $30,000 after acquiring an additional 44 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Waters in the first quarter worth $41,000. Finally, Steph & Co. acquired a new position in shares of Waters in the second quarter worth $73,000. 94.01% of the stock is owned by institutional investors and hedge funds.

Waters Trading Up 0.9%

Shares of NYSE:WAT opened at $358.79 on Friday. The company has a current ratio of 1.75, a quick ratio of 1.22 and a debt-to-equity ratio of 0.55. Waters Corporation has a 1 year low of $275.05 and a 1 year high of $423.56. The firm has a fifty day moving average price of $311.56 and a 200 day moving average price of $323.80. The stock has a market capitalization of $21.36 billion, a PE ratio of 32.35, a P/E/G ratio of 3.30 and a beta of 1.04.

Waters (NYSE:WAT) last released its quarterly earnings results on Thursday, May 19th. The medical instruments supplier reported $2.29 earnings per share (EPS) for the quarter. Waters had a net margin of 21.71% and a return on equity of 38.60%. The company had revenue of $608.55 million during the quarter. Analysts expect that Waters Corporation will post 12.86 EPS for the current fiscal year.

Analysts Set New Price Targets

WAT has been the topic of a number of research reports. Scotiabank reaffirmed a “sector outperform” rating and issued a $465.00 price target on shares of Waters in a research note on Friday, July 11th. Robert W. Baird dropped their price target on shares of Waters from $374.00 to $352.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 16th. Wall Street Zen cut shares of Waters from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. UBS Group reiterated a “neutral” rating on shares of Waters in a report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Waters from $300.00 to $325.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Waters currently has an average rating of “Moderate Buy” and an average target price of $376.80.

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.