Norges Bank Takes $206.29 Million Position in Waters Co. (NYSE:WAT)

Norges Bank purchased a new position in shares of Waters Co. (NYSE:WAT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 626,571 shares of the medical instruments supplier's stock, valued at approximately $206,286,000. Norges Bank owned 1.06% of Waters at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Waters by 9.7% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 55,889 shares of the medical instruments supplier's stock worth $15,325,000 after buying an additional 4,936 shares during the period. Meridian Wealth Management LLC acquired a new position in shares of Waters in the fourth quarter worth about $2,637,000. Raymond James & Associates lifted its stake in shares of Waters by 295.9% in the fourth quarter. Raymond James & Associates now owns 127,879 shares of the medical instruments supplier's stock worth $42,102,000 after acquiring an additional 95,577 shares in the last quarter. Motley Fool Wealth Management LLC boosted its holdings in Waters by 39.6% in the fourth quarter. Motley Fool Wealth Management LLC now owns 41,657 shares of the medical instruments supplier's stock valued at $13,728,000 after purchasing an additional 11,823 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Waters by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 357,257 shares of the medical instruments supplier's stock valued at $117,620,000 after purchasing an additional 13,093 shares in the last quarter. 94.01% of the stock is owned by hedge funds and other institutional investors.

Waters Stock Performance

Shares of Waters stock traded down $11.82 on Thursday, reaching $336.98. 787,508 shares of the company were exchanged, compared to its average volume of 426,368. The firm has a market cap of $19.99 billion, a price-to-earnings ratio of 33.05, a P/E/G ratio of 5.60 and a beta of 0.98. Waters Co. has a 1-year low of $231.90 and a 1-year high of $367.21. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.30 and a current ratio of 1.94. The company's 50-day moving average is $333.55 and its two-hundred day moving average is $318.33.

Waters (NYSE:WAT - Get Free Report) last issued its earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.11. The firm had revenue of $636.80 million for the quarter, compared to analyst estimates of $635.57 million. Waters had a return on equity of 66.59% and a net margin of 20.75%. The firm's revenue for the quarter was down 7.0% on a year-over-year basis. During the same period last year, the company earned $2.49 earnings per share. As a group, research analysts expect that Waters Co. will post 11.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WAT has been the topic of a number of recent analyst reports. Stifel Nicolaus upped their target price on Waters from $330.00 to $332.00 and gave the company a "hold" rating in a research report on Wednesday, May 8th. Evercore ISI raised their price objective on shares of Waters from $320.00 to $340.00 and gave the stock an "in-line" rating in a report on Thursday, April 4th. Barclays cut their target price on shares of Waters from $300.00 to $295.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 8th. TD Cowen boosted their price objective on Waters from $350.00 to $358.00 and gave the company a "hold" rating in a report on Wednesday, May 8th. Finally, Robert W. Baird cut their price objective on Waters from $319.00 to $312.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating and ten have issued a hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $305.78.

Insider Buying and Selling at Waters

In other news, Director Christopher A. Kuebler sold 4,000 shares of Waters stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $361.64, for a total transaction of $1,446,560.00. Following the sale, the director now owns 14,716 shares of the company's stock, valued at $5,321,894.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Waters news, Director Linda Baddour sold 500 shares of the business's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $355.54, for a total transaction of $177,770.00. Following the sale, the director now directly owns 2,250 shares in the company, valued at approximately $799,965. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher A. Kuebler sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $361.64, for a total transaction of $1,446,560.00. Following the completion of the sale, the director now directly owns 14,716 shares of the company's stock, valued at $5,321,894.24. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

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.