Parthenon LLC Has $11.08 Million Stock Position in Waters Corporation $WAT

Key Points

• Parthenon LLC has reduced its stake in Waters Corporation by 2.6%, now holding 31,731 shares valued at approximately $11.08 million, making it the firm's 24th largest holding.
• Institutional investors own 94.01% of Waters' stock, with notable increases from groups such as OVERSEA CHINESE BANKING Corp, which raised its stake by 676.8% in the first quarter.
• Waters Corporation recently received mixed analyst ratings, with an average rating of "Moderate Buy" and a target price of $376.80.

Parthenon LLC lowered its stake in Waters Corporation (NYSE:WAT - Free Report) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,731 shares of the medical instruments supplier's stock after selling 855 shares during the period. Waters accounts for 1.3% of Parthenon LLC's holdings, making the stock its 24th largest holding. Parthenon LLC owned approximately 0.05% of Waters worth $11,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of WAT. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Waters by 676.8% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 705,733 shares of the medical instruments supplier's stock valued at $260,112,000 after acquiring an additional 614,877 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Waters by 15.7% during the first quarter. Alliancebernstein L.P. now owns 3,070,671 shares of the medical instruments supplier's stock valued at $1,131,757,000 after acquiring an additional 416,669 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Waters by 93.3% during the first quarter. Wellington Management Group LLP now owns 572,823 shares of the medical instruments supplier's stock valued at $211,125,000 after acquiring an additional 276,433 shares during the last quarter. Nuveen LLC bought a new position in shares of Waters during the first quarter valued at $94,028,000. Finally, Vanguard Group Inc. raised its stake in shares of Waters by 2.4% during the first quarter. Vanguard Group Inc. now owns 7,272,252 shares of the medical instruments supplier's stock valued at $2,680,334,000 after acquiring an additional 173,584 shares during the last quarter. Institutional investors own 94.01% of the company's stock.

Analyst Ratings Changes

WAT has been the subject of several analyst reports. Rothschild Redb raised shares of Waters to a "strong-buy" rating in a research note on Wednesday, October 8th. Bank of America lifted their target price on shares of Waters from $370.00 to $375.00 and gave the stock a "neutral" rating in a research note on Thursday, June 26th. Wall Street Zen downgraded shares of Waters from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Jefferies Financial Group set a $385.00 target price on shares of Waters and gave the stock a "buy" rating in a research note on Monday, August 4th. Finally, UBS Group reissued a "neutral" rating on shares of Waters in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, Waters currently has an average rating of "Moderate Buy" and an average target price of $376.80.

Waters Trading Up 0.2%

WAT opened at $335.58 on Friday. Waters Corporation has a 1-year low of $275.05 and a 1-year high of $423.56. The company has a current ratio of 1.75, a quick ratio of 1.22 and a debt-to-equity ratio of 0.55. The company has a market cap of $19.97 billion, a P/E ratio of 30.26, a price-to-earnings-growth ratio of 3.12 and a beta of 1.04. The company has a fifty day moving average price of $305.36 and a two-hundred day moving average price of $322.88.

Waters (NYSE:WAT - Get Free Report) last posted its quarterly earnings results 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. Analysts predict that Waters Corporation will post 12.86 EPS for the current fiscal 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.

Want to see what other hedge funds are holding WAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waters Corporation (NYSE:WAT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.