Summit Trail Advisors LLC Increases Holdings in Waters Co. (NYSE:WAT)

Summit Trail Advisors LLC increased its position in Waters Co. (NYSE:WAT) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,170 shares of the medical instruments supplier’s stock after purchasing an additional 34 shares during the quarter. Summit Trail Advisors LLC’s holdings in Waters were worth $339,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Jump Financial LLC purchased a new position in shares of Waters during the fourth quarter valued at $229,000. Wells Fargo & Company MN increased its position in Waters by 1.2% during the 4th quarter. Wells Fargo & Company MN now owns 96,018 shares of the medical instruments supplier’s stock valued at $31,612,000 after purchasing an additional 1,147 shares during the period. D.A. Davidson & CO. raised its holdings in shares of Waters by 2.2% in the 4th quarter. D.A. Davidson & CO. now owns 3,535 shares of the medical instruments supplier’s stock valued at $1,164,000 after purchasing an additional 75 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Waters by 16.5% in the 4th quarter. Corient Private Wealth LLC now owns 4,992 shares of the medical instruments supplier’s stock worth $1,644,000 after purchasing an additional 707 shares during the period. Finally, Assetmark Inc. lifted its position in shares of Waters by 30.4% in the 4th quarter. Assetmark Inc. now owns 712 shares of the medical instruments supplier’s stock worth $234,000 after purchasing an additional 166 shares during the period. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WAT. Wells Fargo & Company initiated coverage on shares of Waters in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $380.00 price objective for the company. Barclays raised their price objective on Waters from $275.00 to $300.00 and gave the company an “underweight” rating in a research 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. Jefferies Financial Group assumed coverage on shares of Waters in a research report on Monday, June 3rd. They issued a “hold” rating and a $320.00 price objective on the stock. Finally, TD Cowen increased their target price on shares of Waters from $325.00 to $363.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $318.50.

Waters Stock Up 0.9 %

WAT stock opened at $339.71 on Tuesday. The company has a market capitalization of $20.15 billion, a P/E ratio of 33.34, a price-to-earnings-growth ratio of 5.70 and a beta of 0.95. Waters Co. has a 12 month low of $231.90 and a 12 month high of $367.21. The firm’s fifty day simple moving average is $330.44 and its 200-day simple moving average is $324.07. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.10 and a quick ratio of 1.42.

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

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.