Rafferty Asset Management LLC Boosts Stake in Waters Co. (NYSE:WAT)

Rafferty Asset Management LLC grew its position in shares of Waters Co. (NYSE:WAT - Free Report) by 11.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,730 shares of the medical instruments supplier's stock after acquiring an additional 709 shares during the period. Rafferty Asset Management LLC's holdings in Waters were worth $2,497,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisory Alpha LLC grew its holdings in shares of Waters by 2.6% during the 4th quarter. Advisory Alpha LLC now owns 1,065 shares of the medical instruments supplier's stock worth $395,000 after acquiring an additional 27 shares during the period. Empowered Funds LLC grew its holdings in shares of Waters by 3.0% during the 4th quarter. Empowered Funds LLC now owns 966 shares of the medical instruments supplier's stock worth $358,000 after acquiring an additional 28 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in shares of Waters by 0.3% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 9,610 shares of the medical instruments supplier's stock worth $3,565,000 after acquiring an additional 30 shares during the period. Blue Trust Inc. grew its holdings in shares of Waters by 9.6% during the 4th quarter. Blue Trust Inc. now owns 353 shares of the medical instruments supplier's stock worth $127,000 after acquiring an additional 31 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of Waters by 6.8% during the 4th quarter. Larson Financial Group LLC now owns 537 shares of the medical instruments supplier's stock worth $199,000 after acquiring an additional 34 shares during the period. Hedge funds and other institutional investors own 94.01% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Sanford C. Bernstein set a $400.00 price target on Waters and gave the stock an "outperform" rating in a research note on Wednesday, April 16th. Robert W. Baird upped their price target on Waters from $355.00 to $374.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. upped their price target on Waters from $380.00 to $390.00 and gave the stock a "neutral" rating in a research note on Thursday, March 6th. Baird R W upgraded Waters from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 26th. Finally, StockNews.com downgraded Waters from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $390.19.

Waters Stock Performance

Shares of WAT opened at $358.40 on Tuesday. The business's fifty day simple moving average is $346.42 and its two-hundred day simple moving average is $371.33. The company has a current ratio of 0.94, a quick ratio of 0.65 and a debt-to-equity ratio of 1.14. Waters Co. has a 12 month low of $279.24 and a 12 month high of $423.56. The company has a market cap of $21.33 billion, a price-to-earnings ratio of 33.46, a P/E/G ratio of 3.79 and a beta of 1.14.

Waters (NYSE:WAT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 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 the consensus estimate of $655.50 million. Waters had a return on equity of 46.31% and a net margin of 21.56%. The company's revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business posted $2.21 EPS. Research analysts anticipate that Waters Co. will post 12.86 earnings per share 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.

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.