Geode Capital Management LLC Boosts Stock Holdings in Waters Co. (NYSE:WAT)

Geode Capital Management LLC boosted its position in Waters Co. (NYSE:WAT) by 1.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,416,683 shares of the medical instruments supplier’s stock after buying an additional 16,703 shares during the quarter. Geode Capital Management LLC’s holdings in Waters were worth $508,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. M&T Bank Corp raised its stake in shares of Waters by 35.2% during the 3rd quarter. M&T Bank Corp now owns 5,709 shares of the medical instruments supplier’s stock valued at $2,055,000 after purchasing an additional 1,485 shares during the period. Barclays PLC grew its holdings in Waters by 34.8% during the 3rd quarter. Barclays PLC now owns 159,995 shares of the medical instruments supplier’s stock valued at $57,579,000 after buying an additional 41,339 shares in the last quarter. MML Investors Services LLC increased its position in shares of Waters by 8.8% during the third quarter. MML Investors Services LLC now owns 10,297 shares of the medical instruments supplier’s stock valued at $3,706,000 after buying an additional 837 shares during the period. Kensington Investment Counsel LLC increased its position in shares of Waters by 2.1% during the third quarter. Kensington Investment Counsel LLC now owns 6,908 shares of the medical instruments supplier’s stock valued at $2,486,000 after buying an additional 145 shares during the period. Finally, National Bank of Canada FI lifted its holdings in shares of Waters by 44.5% in the third quarter. National Bank of Canada FI now owns 24,247 shares of the medical instruments supplier’s stock worth $8,726,000 after buying an additional 7,472 shares in the last quarter. 94.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WAT has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped 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. TD Cowen increased their price objective on Waters from $363.00 to $410.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Evercore ISI lifted their price objective on Waters from $335.00 to $355.00 and gave the company an “in-line” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. upped their target price on Waters from $340.00 to $380.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Cfra set a $389.00 price target on Waters in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $371.33.

Waters Price Performance

WAT stock opened at $382.58 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.14. The firm’s 50-day moving average price is $365.52 and its two-hundred day moving average price is $335.79. The stock has a market capitalization of $22.72 billion, a price-to-earnings ratio of 36.51, a PEG ratio of 7.05 and a beta of 1.01. Waters Co. has a 12-month low of $279.24 and a 12-month high of $397.02.

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

Waters Company 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.