Man Group plc Acquires 16,391 Shares of Waters Co. (NYSE:WAT)

Man Group plc raised its holdings in Waters Co. (NYSE:WAT - Free Report) by 45.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,363 shares of the medical instruments supplier's stock after purchasing an additional 16,391 shares during the quarter. Man Group plc owned 0.09% of Waters worth $19,426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new position in Waters in the fourth quarter valued at about $28,000. Bank of Jackson Hole Trust acquired a new stake in shares of Waters in the 4th quarter valued at approximately $34,000. Steward Partners Investment Advisory LLC grew its holdings 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 valued at $35,000 after purchasing an additional 53 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Waters during the 4th quarter worth approximately $42,000. Finally, EverSource Wealth Advisors LLC increased its position in 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 purchasing an additional 44 shares in the last quarter. Institutional investors own 94.01% of the company's stock.

Waters Trading Down 4.2%

NYSE:WAT traded down $15.06 on Wednesday, reaching $347.04. 551,328 shares of the stock traded hands, compared to its average volume of 479,976. The firm has a market capitalization of $20.65 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 3.79 and a beta of 1.14. Waters Co. has a 1-year low of $279.24 and a 1-year high of $423.56. 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's 50 day moving average is $346.39 and its 200-day moving average is $371.27.

Waters (NYSE:WAT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The medical instruments supplier reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.03. The company had revenue of $661.71 million during the quarter, compared to analysts' expectations of $655.50 million. Waters had a net margin of 21.56% and a return on equity of 46.31%. Waters's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.21 earnings per share. Equities research analysts anticipate that Waters Co. will post 12.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WAT shares. Barclays decreased their target price 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. Wells Fargo & Company raised their price objective on Waters from $415.00 to $420.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Robert W. Baird upped their target price on Waters from $355.00 to $374.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Sanford C. Bernstein set a $400.00 target price on Waters and gave the company an "outperform" rating in a research report on Wednesday, April 16th. Finally, Baird R W raised Waters from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 26th. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $390.19.

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.