Wealth Enhancement Advisory Services LLC Buys 7,301 Shares of Waters Corporation (NYSE:WAT)

Wealth Enhancement Advisory Services LLC raised its stake in shares of Waters Corporation (NYSE:WAT - Free Report) by 169.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,619 shares of the medical instruments supplier's stock after acquiring an additional 7,301 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Waters were worth $4,283,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wealthfront Advisers LLC increased its stake in shares of Waters by 106,144.4% in the fourth quarter. Wealthfront Advisers LLC now owns 3,087,461 shares of the medical instruments supplier's stock valued at $1,145,386,000 after buying an additional 3,084,555 shares in the last quarter. Norges Bank acquired a new stake in shares of Waters in the fourth quarter valued at $284,415,000. GAMMA Investing LLC increased its stake in shares of Waters by 50,228.3% in the first quarter. GAMMA Investing LLC now owns 662,320 shares of the medical instruments supplier's stock valued at $244,111,000 after buying an additional 661,004 shares in the last quarter. Millennium Management LLC increased its stake in shares of Waters by 3,349.7% in the fourth quarter. Millennium Management LLC now owns 304,404 shares of the medical instruments supplier's stock valued at $112,928,000 after buying an additional 295,580 shares in the last quarter. Finally, Madison Investment Advisors LLC acquired a new stake in shares of Waters in the fourth quarter valued at $104,645,000. 94.01% of the stock is owned by institutional investors.

Waters Stock Performance

Shares of WAT stock opened at $355.52 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.81 and a quick ratio of 1.28. The stock has a market cap of $21.16 billion, a PE ratio of 32.26, a price-to-earnings-growth ratio of 3.53 and a beta of 1.11. The stock has a 50-day moving average of $346.49 and a 200-day moving average of $365.42. Waters Corporation has a one year low of $279.24 and a one year high of $423.56.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WAT shares. Barclays lowered their target price on Waters from $400.00 to $350.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Baird R W upgraded Waters from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 26th. KeyCorp upgraded Waters from a "sector weight" rating to an "overweight" rating and set a $460.00 target price for the company in a research note on Monday, March 31st. UBS Group lowered their target price on Waters from $415.00 to $360.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, Bank of America raised their target price on Waters from $370.00 to $375.00 and gave the company a "neutral" rating in a research note on Thursday. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $388.00.

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.

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