Logan Capital Management Inc. Sells 3,061 Shares of Waters Co. (NYSE:WAT)

Logan Capital Management Inc. lowered its stake in Waters Co. (NYSE:WAT - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,953 shares of the medical instruments supplier's stock after selling 3,061 shares during the period. Logan Capital Management Inc. owned 0.06% of Waters worth $13,338,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in Waters in the fourth quarter worth $28,000. Bank of Jackson Hole Trust purchased a new position in shares of Waters during the fourth quarter valued at approximately $34,000. Steward Partners Investment Advisory LLC grew its stake in shares of Waters by 129.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier's stock worth $35,000 after buying an additional 53 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in Waters during the 4th quarter valued at approximately $42,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Waters by 54.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 125 shares of the medical instruments supplier's stock worth $46,000 after acquiring an additional 44 shares during the last quarter. 94.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WAT. Scotiabank raised shares of Waters from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the stock from $430.00 to $450.00 in a report on Thursday, February 13th. Baird R W raised shares of Waters from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 26th. Barclays reduced their target price on shares of Waters from $400.00 to $350.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Bank of America decreased their price objective on Waters from $430.00 to $410.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Finally, KeyCorp raised shares of Waters from a "sector weight" rating to an "overweight" rating and set a $460.00 price objective for the company in a research note on Monday, March 31st. Ten investment 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $390.19.

Waters Trading Up 1.7%

Waters stock traded up $5.97 during midday trading on Thursday, reaching $351.35. The stock had a trading volume of 533,250 shares, compared to its average volume of 477,831. 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 firm has a market cap of $20.91 billion, a price-to-earnings ratio of 32.81, a price-to-earnings-growth ratio of 3.79 and a beta of 1.14. Waters Co. has a 52-week low of $279.24 and a 52-week high of $423.56. The company has a fifty day moving average of $347.87 and a 200 day moving average of $370.47.

Waters (NYSE:WAT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 46.31% and a net margin of 21.56%. Waters's quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $2.21 EPS. On average, analysts anticipate that Waters Co. will post 12.86 earnings per share for the current fiscal year.

About Waters

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.