Acadian Asset Management LLC Boosts Stock Position in Waters Co. (NYSE:WAT)

Acadian Asset Management LLC grew its holdings in Waters Co. (NYSE:WAT) by 54.0% in the second quarter, Holdings Channel reports. The institutional investor owned 1,909 shares of the medical instruments supplier’s stock after acquiring an additional 669 shares during the quarter. Acadian Asset Management LLC’s holdings in Waters were worth $552,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Indiana Trust & Investment Management CO purchased a new stake in shares of Waters in the first quarter valued at approximately $25,000. Riverview Trust Co purchased a new stake in shares of Waters in the first quarter valued at approximately $28,000. Blue Trust Inc. increased its position 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 valued at $35,000 after buying an additional 78 shares in the last quarter. TFC Financial Management Inc. increased its position 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 valued at $58,000 after buying an additional 199 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Waters in the first quarter valued at approximately $72,000. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Waters Stock Performance

Shares of Waters stock opened at $328.97 on Wednesday. Waters Co. has a 52 week low of $231.90 and a 52 week high of $367.21. The business’s fifty day simple moving average is $326.45 and its 200-day simple moving average is $324.56. The firm has a market cap of $19.51 billion, a PE ratio of 32.28, a price-to-earnings-growth ratio of 5.59 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 (NYSE:WAT) last posted its earnings results on Wednesday, July 31st. The medical instruments supplier reported $2.63 earnings per share 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 firm had revenue of $709.00 million during the quarter, compared to the consensus estimate of $700.09 million. During the same quarter last year, the firm earned $2.80 EPS. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. Equities analysts forecast that Waters Co. will post 11.6 earnings per share for the current year.

Analysts Set New Price Targets

WAT has been the subject of a number of recent analyst reports. Barclays boosted 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 upgraded Waters from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft dropped their price target on Waters from $330.00 to $310.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Jefferies Financial Group started coverage on Waters in a research report on Monday, June 3rd. They set a “hold” rating and a $320.00 price target for the company. Finally, The Goldman Sachs Group upgraded Waters to a “hold” rating in a research report on Wednesday, July 31st. One equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $318.50.

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.