Gotham Asset Management LLC Cuts Stock Position in Waters Co. (NYSE:WAT)

Gotham Asset Management LLC cut its stake in shares of Waters Co. (NYSE:WAT - Free Report) by 12.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,041 shares of the medical instruments supplier's stock after selling 6,301 shares during the quarter. Gotham Asset Management LLC owned approximately 0.07% of Waters worth $15,967,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WAT. Barclays PLC boosted its stake in Waters by 34.8% in the 3rd quarter. Barclays PLC now owns 159,995 shares of the medical instruments supplier's stock worth $57,579,000 after purchasing an additional 41,339 shares during the period. Franklin Resources Inc. boosted its stake in Waters by 74.5% in the 3rd quarter. Franklin Resources Inc. now owns 70,507 shares of the medical instruments supplier's stock worth $25,189,000 after purchasing an additional 30,101 shares during the period. Fortitude Family Office LLC boosted its stake in Waters by 235.7% in the 4th quarter. Fortitude Family Office LLC now owns 94 shares of the medical instruments supplier's stock worth $35,000 after purchasing an additional 66 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Waters by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,774 shares of the medical instruments supplier's stock worth $1,358,000 after purchasing an additional 49 shares during the period. Finally, Graypoint LLC bought a new position in shares of Waters during the 4th quarter valued at approximately $203,000. 94.01% of the stock is currently owned by institutional investors.

Waters Stock Performance

Shares of NYSE:WAT traded down $12.47 during trading on Wednesday, hitting $346.55. 621,010 shares of the stock traded hands, compared to its average volume of 477,383. The company has a quick ratio of 0.65, a current ratio of 0.94 and a debt-to-equity ratio of 1.14. The company has a market cap of $20.62 billion, a price-to-earnings ratio of 32.36, a P/E/G ratio of 3.79 and a beta of 1.14. The company has a fifty day moving average price of $348.78 and a two-hundred day moving average price of $370.63. Waters Co. has a 52-week low of $279.24 and a 52-week high of $423.56.

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

Analyst Ratings Changes

Several equities analysts have commented on WAT shares. Sanford C. Bernstein set a $400.00 price objective on shares of Waters and gave the company an "outperform" rating in a research report on Wednesday, April 16th. UBS Group lowered their target price on shares of Waters from $415.00 to $360.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company raised their price target on shares of Waters from $415.00 to $420.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Barclays reduced their price target on shares of Waters from $400.00 to $350.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Finally, Baird R W raised shares of Waters from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 26th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Waters currently has an average rating of "Moderate Buy" and a consensus price target of $390.19.

Waters 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.