Bayesian Capital Management LP Takes Position in Waters Co. (NYSE:WAT)

Bayesian Capital Management LP bought a new stake in shares of Waters Co. (NYSE:WAT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,436 shares of the medical instruments supplier's stock, valued at approximately $1,275,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. increased its stake in shares of Waters by 4.8% during the fourth quarter. Benjamin Edwards Inc. now owns 744 shares of the medical instruments supplier's stock worth $276,000 after purchasing an additional 34 shares in the last quarter. BLI Banque de Luxembourg Investments acquired a new position in Waters in the fourth quarter valued at approximately $50,704,000. BNP Paribas Financial Markets increased its position in shares of Waters by 45.5% during the 4th quarter. BNP Paribas Financial Markets now owns 109,314 shares of the medical instruments supplier's stock worth $40,553,000 after purchasing an additional 34,209 shares during the last quarter. Aptus Capital Advisors LLC purchased a new position in shares of Waters during the 4th quarter worth approximately $503,000. Finally, Cypress Advisory Group LLC acquired a new stake in Waters in the 4th quarter valued at approximately $984,000. Institutional investors and hedge funds own 94.01% of the company's stock.

Wall Street Analyst Weigh In

WAT has been the subject of a number of research reports. KeyCorp raised Waters from a "sector weight" rating to an "overweight" rating and set a $460.00 price objective for the company in a research note on Monday, March 31st. Bank of America decreased their price target on shares of Waters from $430.00 to $410.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Scotiabank upgraded Waters from a "sector perform" rating to a "sector outperform" rating and increased their price objective for the company from $430.00 to $450.00 in a research note on Thursday, February 13th. Barclays lowered their price target on shares of Waters from $400.00 to $350.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Finally, Robert W. Baird upped their target price on shares of Waters from $355.00 to $374.00 and gave the company an "outperform" rating in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Waters presently has an average rating of "Moderate Buy" and an average target price of $390.19.

Waters Price Performance

Shares of Waters stock traded up $5.97 during trading on Wednesday, reaching $344.99. The company's stock had a trading volume of 739,085 shares, compared to its average volume of 476,553. The company has a market capitalization of $20.53 billion, a P/E ratio of 32.21, a price-to-earnings-growth ratio of 3.79 and a beta of 1.14. Waters Co. has a 12-month low of $279.24 and a 12-month high of $423.56. The business has a 50 day moving average price of $350.46 and a 200-day moving average price of $369.80. The company has a quick ratio of 0.65, a current ratio of 0.94 and a debt-to-equity ratio of 1.14.

Waters (NYSE:WAT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 EPS for the quarter, topping the consensus estimate of $2.22 by $0.03. Waters had a return on equity of 46.31% and a net margin of 21.56%. The business had revenue of $661.71 million for the quarter, compared to analyst estimates of $655.50 million. During the same quarter in the previous year, the company earned $2.21 EPS. The company's quarterly revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Waters Co. will post 12.86 EPS for the current year.

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.