QRG Capital Management Inc. Buys 758 Shares of Waters Corporation (NYSE:WAT)

QRG Capital Management Inc. increased its stake in shares of Waters Corporation (NYSE:WAT - Free Report) by 85.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,642 shares of the medical instruments supplier's stock after buying an additional 758 shares during the quarter. QRG Capital Management Inc.'s holdings in Waters were worth $605,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of WAT. Brighton Jones LLC lifted its position in shares of Waters by 112.9% during the 4th quarter. Brighton Jones LLC now owns 1,269 shares of the medical instruments supplier's stock worth $471,000 after buying an additional 673 shares during the period. Principal Securities Inc. lifted its position in shares of Waters by 17.6% during the 4th quarter. Principal Securities Inc. now owns 1,420 shares of the medical instruments supplier's stock worth $527,000 after buying an additional 213 shares during the period. Sanctuary Advisors LLC lifted its position in shares of Waters by 12.4% during the 4th quarter. Sanctuary Advisors LLC now owns 2,735 shares of the medical instruments supplier's stock worth $1,015,000 after buying an additional 302 shares during the period. Truist Financial Corp increased its holdings in Waters by 60.6% during the 4th quarter. Truist Financial Corp now owns 5,098 shares of the medical instruments supplier's stock valued at $1,891,000 after purchasing an additional 1,924 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in Waters by 11.3% during the 4th quarter. Global Retirement Partners LLC now owns 1,479 shares of the medical instruments supplier's stock valued at $549,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 94.01% of the company's stock.

Waters Stock Up 0.9%

NYSE:WAT opened at $342.49 on Friday. Waters Corporation has a 12-month low of $279.24 and a 12-month high of $423.56. The company has a quick ratio of 1.28, a current ratio of 1.81 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $20.38 billion, a P/E ratio of 31.08, a P/E/G ratio of 3.46 and a beta of 1.11. The stock's fifty day simple moving average is $344.56 and its 200-day simple moving average is $366.30.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Sanford C. Bernstein set a $400.00 price target on Waters and gave the company an "outperform" rating in a report on Wednesday, April 16th. KeyCorp raised Waters from a "sector weight" rating to an "overweight" rating and set a $460.00 price target for the company in a report on Monday, March 31st. Barclays dropped their price target on Waters from $400.00 to $350.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Robert W. Baird raised their price target on Waters from $355.00 to $374.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. raised their price target on Waters from $380.00 to $390.00 and gave the company a "neutral" rating in a report on Thursday, March 6th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Waters currently has a consensus rating of "Moderate Buy" and an average price target of $390.19.

Waters 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.

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