Raymond James & Associates Lowers Stock Position in Waters Co. (NYSE:WAT)

Raymond James & Associates lessened its holdings in Waters Co. (NYSE:WAT) by 5.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 97,863 shares of the medical instruments supplier’s stock after selling 5,396 shares during the period. Raymond James & Associates owned about 0.16% of Waters worth $35,220,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WAT. Indiana Trust & Investment Management CO purchased a new stake in Waters during the first quarter valued at approximately $25,000. Riverview Trust Co purchased a new stake in Waters during the first quarter valued at approximately $28,000. Itau Unibanco Holding S.A. purchased a new position in shares of Waters in the second quarter worth $33,000. Blue Trust Inc. raised its holdings in shares of Waters by 190.2% in the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock worth $35,000 after buying an additional 78 shares during the last quarter. Finally, TFC Financial Management Inc. raised its holdings in shares of Waters by 19,900.0% in the second 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 last quarter. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Waters Stock Down 1.8 %

WAT stock opened at $333.28 on Thursday. The firm has a market cap of $19.77 billion, a PE ratio of 32.71, a P/E/G ratio of 6.85 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 firm’s fifty day moving average is $342.79 and its 200 day moving average is $325.06. Waters Co. has a one year low of $231.90 and a one year high of $367.21.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. 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 target for the company. Leerink Partnrs raised shares of Waters from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 1st. Cfra set a $389.00 price target on shares of Waters in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Waters from $330.00 to $310.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Finally, Barclays raised their price target on shares of Waters from $300.00 to $330.00 and gave the stock an “underweight” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.