HB Wealth Management LLC Makes New $247,000 Investment in Waters Co. (NYSE:WAT)

HB Wealth Management LLC bought a new stake in shares of Waters Co. (NYSE:WAT) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 852 shares of the medical instruments supplier’s stock, valued at approximately $247,000.

Several other institutional investors also recently added to or reduced their stakes in WAT. Indiana Trust & Investment Management CO bought a new position in Waters in the 1st quarter worth about $25,000. Riverview Trust Co purchased a new position in Waters during the 1st quarter worth $28,000. Blue Trust Inc. raised its position in Waters by 190.2% during the 2nd quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 78 shares in the last quarter. TFC Financial Management Inc. lifted its holdings in shares of Waters by 19,900.0% in the 2nd quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier’s stock worth $58,000 after buying an additional 199 shares during the period. Finally, Fidelis Capital Partners LLC bought a new position in shares of Waters during the 1st quarter worth $72,000. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Waters from $330.00 to $310.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Leerink Partnrs raised shares of Waters from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company started coverage on shares of Waters in a report on Tuesday. They set an “overweight” rating and a $380.00 price objective on the stock. TD Cowen upped their target price on Waters from $325.00 to $363.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Robert W. Baird dropped their target price on Waters from $319.00 to $312.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $318.50.

Waters Price Performance

Shares of NYSE WAT opened at $346.35 on Friday. Waters Co. has a fifty-two week low of $231.90 and a fifty-two week high of $367.21. The company has a market cap of $20.55 billion, a PE ratio of 33.99, a P/E/G ratio of 5.84 and a beta of 0.95. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.42 and a current ratio of 2.10. The business has a 50-day simple moving average of $316.76 and a two-hundred day simple moving average of $324.29.

Waters (NYSE:WAT) last released its earnings results on Wednesday, July 31st. The medical instruments supplier reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.08. The company had revenue of $709.00 million during the quarter, compared to analysts’ expectations of $700.09 million. Waters had a net margin of 20.71% and a return on equity of 56.81%. Waters’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the business earned $2.80 EPS. As a group, equities analysts expect that Waters Co. will post 11.6 EPS for the current fiscal year.

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.