Bank of Stockton Cuts Stake in Waters Co. (NYSE:WAT)

Bank of Stockton lessened its holdings in Waters Co. (NYSE:WAT) by 10.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,417 shares of the medical instruments supplier’s stock after selling 282 shares during the quarter. Bank of Stockton’s holdings in Waters were worth $870,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Indiana Trust & Investment Management CO purchased a new position in Waters in the first quarter valued at $25,000. Itau Unibanco Holding S.A. acquired a new stake in Waters in the 2nd quarter valued at about $33,000. Blue Trust Inc. boosted its stake in shares of Waters by 190.2% in the 2nd 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 during the period. TFC Financial Management Inc. grew its position in shares of Waters by 19,900.0% during 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 in the last quarter. Finally, Federated Hermes Inc. purchased a new stake in shares of Waters during the second quarter worth approximately $59,000. Institutional investors and hedge funds own 94.01% of the company’s stock.

Waters Stock Performance

Shares of NYSE:WAT traded down $0.04 on Friday, reaching $327.26. The company’s stock had a trading volume of 32,297 shares, compared to its average volume of 420,940. Waters Co. has a 52-week low of $234.04 and a 52-week high of $367.21. The stock has a market capitalization of $19.43 billion, a P/E ratio of 32.60, a PEG ratio of 6.67 and a beta of 0.95. The stock’s 50-day moving average is $342.46 and its two-hundred day moving average is $325.13. 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 posted its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported $2.63 EPS for the quarter, beating the consensus estimate of $2.55 by $0.08. Waters had a return on equity of 56.81% and a net margin of 20.71%. The firm had revenue of $709.00 million during the quarter, compared to the consensus estimate of $700.09 million. During the same period in the prior year, the business earned $2.80 EPS. The firm’s revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Waters Co. will post 11.6 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WAT. TD Cowen lifted their price target on shares of Waters from $325.00 to $363.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Wells Fargo & Company began coverage on shares of Waters in a research note on Tuesday, August 27th. They set an “overweight” rating and a $380.00 target price for the company. Jefferies Financial Group upgraded Waters from a “hold” rating to a “buy” rating and raised their price target for the company from $355.00 to $415.00 in a research note on Tuesday, October 8th. Barclays upped their price objective on Waters from $300.00 to $330.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 15th. Finally, Cfra set a $389.00 target price on Waters in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus 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.