Two Sigma Advisers LP Decreases Position in Waters Co. (NYSE:WAT)

Two Sigma Advisers LP reduced its stake in shares of Waters Co. (NYSE:WAT - Free Report) by 60.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,800 shares of the medical instruments supplier's stock after selling 11,800 shares during the period. Two Sigma Advisers LP's holdings in Waters were worth $2,894,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of WAT. Empowered Funds LLC grew its holdings in Waters by 3.0% during the fourth quarter. Empowered Funds LLC now owns 966 shares of the medical instruments supplier's stock valued at $358,000 after purchasing an additional 28 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in Waters by 0.3% in 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 purchasing an additional 30 shares during the period. Blue Trust Inc. boosted its position in shares of Waters by 9.6% in the fourth quarter. Blue Trust Inc. now owns 353 shares of the medical instruments supplier's stock valued at $127,000 after acquiring an additional 31 shares during the period. Larson Financial Group LLC grew its stake in Waters by 6.8% during the fourth quarter. Larson Financial Group LLC now owns 537 shares of the medical instruments supplier's stock valued at $199,000 after acquiring an additional 34 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in Waters by 4.8% during the 4th quarter. Benjamin Edwards Inc. now owns 744 shares of the medical instruments supplier's stock worth $276,000 after acquiring an additional 34 shares during the period. Hedge funds and other institutional investors own 94.01% of the company's stock.

Waters Stock Down 1.9%

Shares of NYSE:WAT traded down $6.65 during midday trading on Friday, reaching $348.65. The company's stock had a trading volume of 869,104 shares, compared to its average volume of 480,811. Waters Co. has a 12-month low of $279.24 and a 12-month high of $423.56. The firm has a market capitalization of $20.75 billion, a P/E ratio of 32.55, a PEG ratio of 3.79 and a beta of 1.14. The firm has a 50 day moving average of $343.24 and a 200-day moving average of $369.69. The company has a quick ratio of 0.65, a current ratio of 0.94 and a debt-to-equity ratio of 1.14.

Waters (NYSE:WAT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 earnings per share for the quarter, beating analysts' consensus estimates of $2.22 by $0.03. Waters had a net margin of 21.56% and a return on equity of 46.31%. The business had revenue of $661.71 million during the quarter, compared to the consensus estimate of $655.50 million. During the same quarter last year, the firm earned $2.21 earnings per share. The business's revenue for the quarter was up 3.9% on a year-over-year basis. On average, research analysts anticipate that Waters Co. will post 12.86 earnings per share for the current year.

Analysts Set New Price Targets

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

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.