Mackenzie Financial Corp Reduces Stock Position in Waters Co. (NYSE:WAT)

Mackenzie Financial Corp lessened its stake in Waters Co. (NYSE:WAT - Free Report) by 34.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 137,649 shares of the medical instruments supplier's stock after selling 71,579 shares during the quarter. Mackenzie Financial Corp owned approximately 0.23% of Waters worth $51,065,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of WAT. Aster Capital Management DIFC Ltd bought a new stake in shares of Waters in the fourth quarter valued at $28,000. Bank of Jackson Hole Trust bought a new position in shares of Waters during the 4th quarter worth $34,000. Steward Partners Investment Advisory LLC grew its stake in shares of Waters by 129.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier's stock worth $35,000 after acquiring an additional 53 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Waters during the 4th quarter worth $42,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Waters by 54.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 125 shares of the medical instruments supplier's stock worth $46,000 after acquiring an additional 44 shares during the period. Hedge funds and other institutional investors own 94.01% of the company's stock.

Waters Price Performance

Shares of WAT traded down $3.80 during midday trading on Wednesday, reaching $354.56. The stock had a trading volume of 383,910 shares, compared to its average volume of 479,539. The company has a current ratio of 0.94, a quick ratio of 0.65 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $21.10 billion, a price-to-earnings ratio of 33.11, a price-to-earnings-growth ratio of 3.79 and a beta of 1.14. The company's 50-day moving average is $343.83 and its 200 day moving average is $369.98. Waters Co. has a 12-month low of $279.24 and a 12-month high of $423.56.

Waters (NYSE:WAT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 EPS 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 for the quarter, compared to analysts' expectations of $655.50 million. During the same period last year, the business earned $2.21 earnings per share. The business's quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts predict that Waters Co. will post 12.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WAT has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of Waters from $380.00 to $390.00 and gave the company a "neutral" rating in a research report on Thursday, March 6th. Barclays lowered their target price on shares of Waters from $400.00 to $350.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Wall Street Zen upgraded Waters from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Wells Fargo & Company raised their target price on Waters from $415.00 to $420.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Finally, Baird R W upgraded Waters from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 26th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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.