PFG Investments LLC Increases Position in Waters Co. (NYSE:WAT)

PFG Investments LLC increased its position in shares of Waters Co. (NYSE:WAT) by 6.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,355 shares of the medical instruments supplier’s stock after acquiring an additional 80 shares during the quarter. PFG Investments LLC’s holdings in Waters were worth $488,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in WAT. SG Americas Securities LLC raised its stake in Waters by 55.1% in the 1st quarter. SG Americas Securities LLC now owns 14,765 shares of the medical instruments supplier’s stock worth $5,083,000 after acquiring an additional 5,248 shares during the last quarter. TD Asset Management Inc raised its stake in shares of Waters by 4.3% in the first quarter. TD Asset Management Inc now owns 443,493 shares of the medical instruments supplier’s stock worth $152,664,000 after purchasing an additional 18,274 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of Waters during the first quarter worth about $1,786,000. Swedbank AB purchased a new stake in shares of Waters in the 1st quarter valued at $10,106,000. Finally, Bessemer Group Inc. boosted its holdings in Waters by 67.5% in the first quarter. Bessemer Group Inc. now owns 10,382 shares of the medical instruments supplier’s stock valued at $3,574,000 after purchasing an additional 4,184 shares during the last quarter. 94.01% of the stock is owned by institutional investors and hedge funds.

Waters Price Performance

WAT stock opened at $324.67 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 1.42 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $19.27 billion, a PE ratio of 32.34, a P/E/G ratio of 6.38 and a beta of 0.95. The business’s fifty day moving average price is $341.63 and its 200 day moving average price is $324.73. Waters Co. has a 12-month low of $234.04 and a 12-month high of $367.21.

Waters (NYSE:WAT) last announced its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.08. The firm 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%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.80 earnings per share. On average, sell-side analysts anticipate that Waters Co. will post 11.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Cfra set a $389.00 price target on shares of Waters in a research report on Thursday, October 17th. Evercore ISI upped their target price on Waters from $335.00 to $355.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 1st. Jefferies Financial Group raised shares of Waters from a “hold” rating to a “buy” rating and boosted their price target for the stock from $355.00 to $415.00 in a report on Tuesday, October 8th. The Goldman Sachs Group upgraded shares of Waters to a “hold” rating in a research report on Wednesday, July 31st. Finally, Leerink Partnrs upgraded Waters from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Waters presently has a consensus rating of “Hold” and an average price target of $342.58.

About Waters

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.