Tema Etfs LLC Buys New Position in Waters Co. (NYSE:WAT)

Tema Etfs LLC bought a new stake in Waters Co. (NYSE:WAT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,383 shares of the medical instruments supplier's stock, valued at approximately $513,000.

Several other hedge funds have also made changes to their positions in WAT. Aster Capital Management DIFC Ltd purchased a new stake in Waters during the 4th quarter valued at approximately $28,000. Bank of Jackson Hole Trust purchased a new position in shares of Waters in the 4th quarter valued at approximately $34,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Waters by 129.3% in the fourth 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. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Waters during the fourth quarter worth approximately $42,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Waters by 54.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 125 shares of the medical instruments supplier's stock worth $46,000 after purchasing an additional 44 shares during the period. Institutional investors and hedge funds own 94.01% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WAT. Scotiabank raised shares of Waters from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the company from $430.00 to $450.00 in a research note on Thursday, February 13th. UBS Group lowered their target price on shares of Waters from $415.00 to $360.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. JPMorgan Chase & Co. increased their price target on shares of Waters from $380.00 to $390.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. Sanford C. Bernstein set a $400.00 price objective on Waters and gave the company an "outperform" rating in a report on Wednesday, April 16th. Finally, Wells Fargo & Company boosted their target price on Waters from $415.00 to $420.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $390.19.

Waters Price Performance

Shares of NYSE:WAT traded down $15.06 during midday trading on Wednesday, hitting $347.04. 766,320 shares of the stock were exchanged, compared to its average volume of 480,490. The company has a 50 day moving average price of $346.39 and a 200-day moving average price of $371.27. The stock has a market cap of $20.65 billion, a P/E ratio of 32.40, a PEG ratio of 3.79 and a beta of 1.14. Waters Co. has a twelve month low of $279.24 and a twelve month high of $423.56. 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 (NYSE:WAT - Get Free Report) last released its earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 EPS for the quarter, topping the consensus estimate of $2.22 by $0.03. Waters had a net margin of 21.56% and a return on equity of 46.31%. The firm had revenue of $661.71 million during the quarter, compared to analysts' expectations of $655.50 million. During the same period in the previous year, the company earned $2.21 EPS. Waters's revenue for the quarter was up 3.9% on a year-over-year basis. On average, research analysts forecast that Waters Co. will post 12.86 earnings per share for the current 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.