Mercer Global Advisors Inc. ADV Grows Stock Position in Waters Co. (NYSE:WAT)

Mercer Global Advisors Inc. ADV lifted its holdings in shares of Waters Co. (NYSE:WAT) by 0.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 136,831 shares of the medical instruments supplier’s stock after acquiring an additional 600 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Waters were worth $39,697,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Indiana Trust & Investment Management CO acquired a new stake in Waters during the 1st quarter worth about $25,000. Riverview Trust Co purchased a new position in shares of Waters in the first quarter worth about $28,000. Blue Trust Inc. lifted its holdings in shares of Waters by 190.2% during the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock worth $35,000 after purchasing an additional 78 shares during the period. TFC Financial Management Inc. boosted its position in Waters by 19,900.0% in the second quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier’s stock valued at $58,000 after buying an additional 199 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in Waters in the 2nd quarter worth approximately $59,000. Institutional investors and hedge funds own 94.01% of the company’s stock.

Waters Trading Up 1.3 %

Shares of WAT stock opened at $333.28 on Thursday. Waters Co. has a fifty-two week low of $231.90 and a fifty-two week high of $367.21. 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 stock’s fifty day moving average is $327.37 and its two-hundred day moving average is $324.44. The firm has a market capitalization of $19.78 billion, a P/E ratio of 32.71, a PEG ratio of 5.70 and a beta of 0.95.

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

Analysts Set New Price Targets

Several research firms have recently commented on WAT. Wells Fargo & Company assumed coverage on shares of Waters in a report on Tuesday, August 27th. They issued an “overweight” rating and a $380.00 price objective on the stock. Jefferies Financial Group began coverage on Waters in a research report on Monday, June 3rd. They set a “hold” rating and a $320.00 price target on the stock. TD Cowen boosted their price objective on Waters from $325.00 to $363.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Evercore ISI decreased their price objective on Waters from $320.00 to $300.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Finally, The Goldman Sachs Group raised Waters to a “hold” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Waters presently has a consensus rating of “Hold” and a consensus price target of $318.50.

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.