Massachusetts Financial Services Co. MA Increases Holdings in Waters Corporation (NYSE:WAT)

Massachusetts Financial Services Co. MA boosted its holdings in shares of Waters Corporation (NYSE:WAT - Free Report) by 6.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,066,482 shares of the medical instruments supplier's stock after purchasing an additional 123,215 shares during the period. Massachusetts Financial Services Co. MA owned about 3.47% of Waters worth $761,643,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WAT. Olde Wealth Management LLC purchased a new position in Waters during the 1st quarter valued at about $25,000. Aster Capital Management DIFC Ltd purchased a new position in Waters during the 4th quarter valued at about $28,000. Steward Partners Investment Advisory LLC increased its holdings in Waters by 129.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier's stock valued at $35,000 after purchasing an additional 53 shares during the period. Whipplewood Advisors LLC boosted its position in Waters by 5,200.0% during the 1st quarter. Whipplewood Advisors LLC now owns 106 shares of the medical instruments supplier's stock valued at $39,000 after acquiring an additional 104 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Waters during the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 94.01% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on WAT. Barclays cut their price objective on Waters from $400.00 to $350.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $330.00 price objective (down from $420.00) on shares of Waters in a research report on Tuesday. Bank of America lifted their price objective on Waters from $370.00 to $375.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Sanford C. Bernstein set a $400.00 price objective on Waters and gave the company an "outperform" rating in a research report on Wednesday, April 16th. Finally, Scotiabank reissued a "sector outperform" rating and issued a $465.00 price target on shares of Waters in a research report on Friday. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $383.31.

Waters Stock Down 3.7%

WAT stock traded down $11.16 during midday trading on Tuesday, hitting $293.02. The company's stock had a trading volume of 1,268,844 shares, compared to its average volume of 487,999. The company has a market cap of $17.44 billion, a PE ratio of 26.63, a P/E/G ratio of 3.49 and a beta of 1.10. Waters Corporation has a 12 month low of $292.73 and a 12 month high of $423.56. The company has a current ratio of 1.81, a quick ratio of 1.28 and a debt-to-equity ratio of 0.69. The firm's 50-day moving average is $349.62 and its 200-day moving average is $363.50.

Waters (NYSE:WAT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The medical instruments supplier reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.03. The business had revenue of $661.71 million for the quarter, compared to analysts' expectations of $655.50 million. Waters had a return on equity of 41.70% and a net margin of 22.02%. The firm's quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 EPS. On average, equities research analysts forecast that Waters Corporation will post 12.86 earnings per share for the current fiscal 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.