Edgestream Partners L.P. Acquires 4,293 Shares of Waters Co. (NYSE:WAT)

Edgestream Partners L.P. lifted its holdings in Waters Co. (NYSE:WAT) by 523.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,113 shares of the medical instruments supplier’s stock after buying an additional 4,293 shares during the period. Edgestream Partners L.P.’s holdings in Waters were worth $1,483,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Jump Financial LLC bought a new position in Waters in the 4th quarter worth about $229,000. PNC Financial Services Group Inc. grew its stake in Waters by 8.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 20,979 shares of the medical instruments supplier’s stock worth $6,907,000 after acquiring an additional 1,667 shares in the last quarter. Wells Fargo & Company MN grew its stake in Waters by 1.2% in the 4th quarter. Wells Fargo & Company MN now owns 96,018 shares of the medical instruments supplier’s stock worth $31,612,000 after acquiring an additional 1,147 shares in the last quarter. D.A. Davidson & CO. grew its stake in Waters by 2.2% in the 4th quarter. D.A. Davidson & CO. now owns 3,535 shares of the medical instruments supplier’s stock worth $1,164,000 after acquiring an additional 75 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in 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 acquiring an additional 707 shares in the last quarter. 94.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. 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 target for the company. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Waters from $330.00 to $310.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Wells Fargo & Company started coverage on shares of Waters in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $380.00 price target for the company. The Goldman Sachs Group raised shares of Waters to a “hold” rating in a research report on Wednesday, July 31st. Finally, Leerink Partners raised shares of Waters from a “market perform” rating to an “outperform” rating and increased their target price for the company from $325.00 to $375.00 in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Waters currently has an average rating of “Hold” and an average target price of $318.50.

Waters Trading Down 0.5 %

NYSE WAT opened at $336.69 on Friday. The stock has a market capitalization of $19.97 billion, a PE ratio of 33.04, a price-to-earnings-growth ratio of 5.70 and a beta of 0.95. The company has a quick ratio of 1.42, a current ratio of 2.10 and a debt-to-equity ratio of 1.42. Waters Co. has a 52 week low of $231.90 and a 52 week high of $367.21. The firm has a 50 day moving average of $329.02 and a two-hundred day moving average of $324.60.

Waters (NYSE:WAT) last issued its quarterly earnings data 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 business had revenue of $709.00 million during the quarter, compared to the consensus estimate of $700.09 million. Waters had a net margin of 20.71% and a return on equity of 56.81%. The company’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.80 EPS. As a group, research 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.