Pacer Advisors Inc. Trims Stock Position in Waters Corporation (NYSE:WAT)

Pacer Advisors Inc. reduced its stake in Waters Corporation (NYSE:WAT - Free Report) by 30.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,201 shares of the medical instruments supplier's stock after selling 1,799 shares during the quarter. Pacer Advisors Inc.'s holdings in Waters were worth $1,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Olde Wealth Management LLC purchased a new position in shares of Waters during the first quarter worth approximately $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Waters during the fourth quarter worth approximately $28,000. IFP Advisors Inc raised its stake in shares of Waters by 118.9% during the first quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier's stock worth $30,000 after acquiring an additional 44 shares in the last quarter. Whipplewood Advisors LLC raised its stake in shares of Waters by 5,200.0% during the first quarter. Whipplewood Advisors LLC now owns 106 shares of the medical instruments supplier's stock worth $39,000 after acquiring an additional 104 shares in the last quarter. Finally, Mizuho Bank Ltd. purchased a new position in shares of Waters in the fourth quarter worth $67,000. 94.01% of the stock is owned by hedge funds and other institutional investors.

Waters Stock Up 0.7%

Waters stock traded up $2.01 during mid-day trading on Friday, reaching $290.77. The stock had a trading volume of 1,201,345 shares, compared to its average volume of 1,116,492. The company has a market capitalization of $17.30 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 2.85 and a beta of 1.05. The company has a 50-day moving average price of $333.69 and a two-hundred day moving average price of $355.87. Waters Corporation has a one year low of $279.61 and a one year high of $423.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.81 and a quick ratio of 1.28.

Waters (NYSE:WAT - Get Free Report) last posted its earnings results 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 net margin of 22.02% and a return on equity of 41.70%. The business's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.21 EPS. On average, analysts expect that Waters Corporation will post 12.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Scotiabank reaffirmed a "sector outperform" rating and issued a $465.00 target price on shares of Waters in a research note on Friday, July 11th. Wells Fargo & Company downgraded shares of Waters from a "strong-buy" rating to a "hold" rating and decreased their target price for the stock from $420.00 to $330.00 in a research note on Tuesday, July 15th. Robert W. Baird decreased their target price on shares of Waters from $374.00 to $352.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 16th. Sanford C. Bernstein set a $400.00 target price on shares of Waters and gave the stock an "outperform" rating in a research note on Wednesday, April 16th. Finally, Barclays cut their price target on shares of Waters from $400.00 to $350.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Ten investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $381.94.

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.