Franklin Resources Inc. Boosts Stock Holdings in Waters Co. (NYSE:WAT)

Franklin Resources Inc. increased its stake in Waters Co. (NYSE:WAT) by 74.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,507 shares of the medical instruments supplier’s stock after acquiring an additional 30,101 shares during the period. Franklin Resources Inc. owned approximately 0.12% of Waters worth $25,189,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WAT. Summit Trail Advisors LLC grew its stake in shares of Waters by 2.4% during the third quarter. Summit Trail Advisors LLC now owns 1,198 shares of the medical instruments supplier’s stock worth $431,000 after purchasing an additional 28 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in shares of Waters by 3.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 851 shares of the medical instruments supplier’s stock worth $306,000 after acquiring an additional 31 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of Waters by 2.4% during the 3rd quarter. Raymond James Trust N.A. now owns 1,340 shares of the medical instruments supplier’s stock worth $482,000 after acquiring an additional 32 shares in the last quarter. Linscomb Wealth Inc. raised its holdings in Waters by 0.4% during the second quarter. Linscomb Wealth Inc. now owns 7,841 shares of the medical instruments supplier’s stock worth $2,275,000 after purchasing an additional 34 shares in the last quarter. Finally, Johnson Investment Counsel Inc. lifted its position in shares of Waters by 3.2% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,084 shares of the medical instruments supplier’s stock worth $314,000 after buying an additional 34 shares during the last quarter. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Waters Price Performance

WAT stock opened at $360.63 on Friday. The firm has a 50 day moving average of $367.05 and a 200-day moving average of $337.42. The company has a market cap of $21.41 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 6.92 and a beta of 1.01. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.14. Waters Co. has a 12-month low of $279.24 and a 12-month high of $397.02.

Waters (NYSE:WAT) last issued its quarterly earnings data on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.25. The firm had revenue of $740.30 million during the quarter, compared to analysts’ expectations of $712.99 million. Waters had a return on equity of 49.93% and a net margin of 21.43%. Waters’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.84 earnings per share. As a group, equities analysts expect that Waters Co. will post 11.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Waters from $340.00 to $380.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Jefferies Financial Group raised Waters from a “hold” rating to a “buy” rating and boosted their target price for the company from $355.00 to $415.00 in a report on Tuesday, October 8th. Barclays raised their price target on Waters from $330.00 to $360.00 and gave the stock an “underweight” rating in a research note on Monday, November 4th. Bank of America increased their price target on shares of Waters from $400.00 to $430.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Finally, Wells Fargo & Company lifted their price objective on shares of Waters from $380.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waters presently has an average rating of “Hold” and a consensus price target of $375.85.

Waters 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.