Canvas Wealth Advisors LLC Buys New Holdings in Waters Corporation $WAT

Key Points

• Canvas Wealth Advisors LLC acquired a new stake in Waters Corporation, purchasing 1,264 shares valued at approximately $441,000 in the second quarter.
• Waters Corporation recently reported a quarterly earnings per share of $2.29, with a net margin of 21.71% and a return on equity of 38.60%.
• Currently, 94.01% of Waters' stock is owned by institutional investors and hedge funds, highlighting strong institutional interest in the company.

Canvas Wealth Advisors LLC bought a new stake in Waters Corporation (NYSE:WAT - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,264 shares of the medical instruments supplier's stock, valued at approximately $441,000.

Other large investors have also modified their holdings of the company. Olde Wealth Management LLC acquired a new position in shares of Waters in the first quarter valued at $25,000. Zions Bancorporation National Association UT acquired a new stake in Waters during the first quarter valued at approximately $28,000. IFP Advisors Inc boosted its holdings in Waters by 118.9% during the first quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier's stock valued at $30,000 after purchasing an additional 44 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Waters during the first quarter valued at approximately $41,000. Finally, Steph & Co. acquired a new stake in Waters during the second quarter valued at approximately $73,000. 94.01% of the stock is currently owned by institutional investors and hedge funds.

Waters Stock Up 0.2%

Shares of WAT opened at $335.58 on Monday. The company has a market capitalization of $19.97 billion, a P/E ratio of 30.26, a PEG ratio of 3.12 and a beta of 1.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.75 and a quick ratio of 1.22. Waters Corporation has a one year low of $275.05 and a one year high of $423.56. The business's 50 day simple moving average is $305.36 and its 200-day simple moving average is $322.73.

Waters (NYSE:WAT - Get Free Report) last posted its quarterly earnings data on Thursday, May 19th. The medical instruments supplier reported $2.29 earnings per share for the quarter. Waters had a net margin of 21.71% and a return on equity of 38.60%. The firm had revenue of $608.55 million during the quarter. As a group, sell-side analysts predict that Waters Corporation will post 12.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WAT shares. Scotiabank reaffirmed a "sector outperform" rating and set a $465.00 price objective on shares of Waters in a report on Friday, July 11th. Robert W. Baird decreased their price objective on Waters from $374.00 to $352.00 and set an "outperform" rating on the stock in a report on Wednesday, July 16th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Waters in a report on Wednesday, October 8th. Rothschild Redb raised Waters to a "strong-buy" rating in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their target price on Waters from $300.00 to $325.00 and gave the stock a "neutral" rating in a report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $376.80.

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.

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