Mackenzie Financial Corp Has $40.60 Million Stake in Waters Corporation (NYSE:WAT)

Mackenzie Financial Corp lessened its holdings in Waters Corporation (NYSE:WAT - Free Report) by 20.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 110,164 shares of the medical instruments supplier's stock after selling 27,485 shares during the period. Mackenzie Financial Corp owned about 0.19% of Waters worth $40,603,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. LPL Financial LLC increased its stake in Waters by 23.4% during the 1st quarter. LPL Financial LLC now owns 25,133 shares of the medical instruments supplier's stock worth $9,263,000 after buying an additional 4,769 shares during the period. one8zero8 LLC increased its stake in Waters by 2.6% during the 1st quarter. one8zero8 LLC now owns 4,257 shares of the medical instruments supplier's stock worth $1,569,000 after buying an additional 107 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Waters by 5.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,396 shares of the medical instruments supplier's stock worth $12,309,000 after buying an additional 1,747 shares during the period. Empirical Finance LLC increased its stake in Waters by 3.3% during the 1st quarter. Empirical Finance LLC now owns 2,076 shares of the medical instruments supplier's stock worth $765,000 after buying an additional 67 shares during the period. Finally, FourThought Financial Partners LLC increased its stake in Waters by 5.1% during the 1st quarter. FourThought Financial Partners LLC now owns 658 shares of the medical instruments supplier's stock worth $243,000 after buying an additional 32 shares during the period. Hedge funds and other institutional investors own 94.01% of the company's stock.

Waters Stock Performance

NYSE WAT traded up $2.01 on Friday, hitting $290.77. The stock had a trading volume of 1,201,345 shares, compared to its average volume of 603,550. Waters Corporation has a one year low of $279.61 and a one year 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 stock has a market cap of $17.30 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 2.95 and a beta of 1.10. The company's 50-day moving average is $333.69 and its two-hundred day moving average is $355.87.

Waters (NYSE:WAT - Get Free Report) last posted 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 22.02% and a return on equity of 41.70%. The firm had revenue of $661.71 million during the quarter, compared to analysts' expectations of $655.50 million. During the same quarter in the prior year, the firm earned $2.21 EPS. Waters's quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts expect that Waters Corporation will post 12.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Waters from $370.00 to $375.00 and gave the stock a "neutral" rating in a research note on Thursday, June 26th. Wells Fargo & Company downgraded shares of Waters from a "strong-buy" rating to a "hold" rating and dropped their target price for the stock from $420.00 to $330.00 in a research report on Tuesday, July 15th. Barclays dropped their target price on shares of Waters from $400.00 to $350.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. UBS Group reissued a "neutral" rating on shares of Waters in a research report on Tuesday, July 15th. Finally, Wall Street Zen downgraded shares of Waters from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Ten research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $381.94.

Waters Company 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.