Meridian Wealth Management LLC Acquires 137 Shares of Waters Co. (NYSE:WAT)

Meridian Wealth Management LLC lifted its stake in shares of Waters Co. (NYSE:WAT) by 1.6% during the fourth quarter, Holdings Channel reports. The fund owned 8,896 shares of the medical instruments supplier’s stock after buying an additional 137 shares during the quarter. Meridian Wealth Management LLC’s holdings in Waters were worth $3,300,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kennebec Savings Bank acquired a new position in shares of Waters during the third quarter worth approximately $33,000. Bank of Jackson Hole Trust purchased a new stake in shares of Waters in the fourth quarter valued at about $34,000. Ashton Thomas Securities LLC bought a new position in shares of Waters during the 3rd quarter worth approximately $35,000. Fortitude Family Office LLC lifted its holdings in Waters by 235.7% during the fourth quarter. Fortitude Family Office LLC now owns 94 shares of the medical instruments supplier’s stock worth $35,000 after acquiring an additional 66 shares during the period. Finally, R Squared Ltd purchased a new position in Waters in the fourth quarter worth $63,000. Institutional investors and hedge funds own 94.01% of the company’s stock.

Waters Stock Performance

Waters stock opened at $371.40 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.65 and a debt-to-equity ratio of 1.14. Waters Co. has a 1-year low of $279.24 and a 1-year high of $423.56. The firm has a market capitalization of $22.07 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 3.79 and a beta of 1.01. The firm’s 50 day simple moving average is $390.08 and its 200 day simple moving average is $367.93.

Waters (NYSE:WAT) last announced its earnings results on Wednesday, February 12th. The medical instruments supplier reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. Waters had a net margin of 21.56% and a return on equity of 46.31%. As a group, analysts expect that Waters Co. will post 12.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WAT shares. TD Cowen raised their target price on Waters from $363.00 to $410.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Bank of America decreased their price objective on shares of Waters from $430.00 to $410.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on shares of Waters from $340.00 to $380.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. UBS Group raised their price target on shares of Waters from $405.00 to $410.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Waters from $310.00 to $325.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Eleven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $390.40.

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.