Empowered Funds LLC Trims Stock Holdings in Waters Co. (NYSE:WAT)

Empowered Funds LLC reduced its stake in shares of Waters Co. (NYSE:WAT) by 75.8% during the third quarter, Holdings Channel reports. The institutional investor owned 938 shares of the medical instruments supplier’s stock after selling 2,931 shares during the period. Empowered Funds LLC’s holdings in Waters were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Kennebec Savings Bank purchased a new stake in shares of Waters in the third quarter worth $33,000. Ashton Thomas Securities LLC bought a new position in Waters in the 3rd quarter worth $35,000. Itau Unibanco Holding S.A. purchased a new stake in Waters in the 2nd quarter worth $33,000. Blue Trust Inc. raised its holdings in Waters by 190.2% during the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock valued at $35,000 after acquiring an additional 78 shares during the period. Finally, TFC Financial Management Inc. lifted 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 acquiring an additional 199 shares in the last quarter. 94.01% of the stock is currently owned by institutional investors.

Waters Stock Up 1.3 %

NYSE WAT opened at $378.48 on Tuesday. Waters Co. has a 52 week low of $273.60 and a 52 week high of $393.38. The firm has a market capitalization of $22.47 billion, a price-to-earnings ratio of 36.11, a PEG ratio of 6.83 and a beta of 0.97. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 1.14. The company has a fifty day moving average of $355.03 and a two-hundred day moving average of $332.34.

Waters (NYSE:WAT) last issued its quarterly earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, beating the consensus estimate of $2.68 by $0.25. The company had revenue of $740.30 million for the quarter, compared to the consensus estimate of $712.99 million. Waters had a net margin of 21.43% and a return on equity of 49.93%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.84 EPS. On average, analysts predict that Waters Co. will post 11.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Cfra set a $389.00 target price on Waters in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Waters from $310.00 to $325.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Barclays lifted their price target on shares of Waters from $330.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, November 4th. Leerink Partnrs raised shares of Waters from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group raised Waters from a “hold” rating to a “buy” rating and lifted their target price for the stock from $355.00 to $415.00 in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, three 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 presently has a consensus rating of “Hold” and a consensus target price of $365.85.

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.