Waters Co. (NYSE:WAT) Stock Position Lowered by State of Michigan Retirement System

State of Michigan Retirement System lessened its position in Waters Co. (NYSE:WAT) by 2.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,597 shares of the medical instruments supplier’s stock after selling 500 shares during the period. State of Michigan Retirement System’s holdings in Waters were worth $6,157,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WAT. Kennebec Savings Bank bought a new stake in shares of Waters in the 3rd quarter worth $33,000. Bank of Jackson Hole Trust bought a new stake in shares of Waters in the 4th quarter worth $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Waters in the 3rd quarter worth $35,000. Fortitude Family Office LLC raised its position in shares of 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 purchasing an additional 66 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position in shares of Waters by 129.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier’s stock worth $35,000 after purchasing an additional 53 shares during the period. Institutional investors own 94.01% of the company’s stock.

Waters Stock Performance

Shares of NYSE WAT opened at $385.33 on Friday. The business’s 50-day moving average price is $390.10 and its two-hundred day moving average price is $368.21. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.94 and a quick ratio of 0.65. Waters Co. has a one year low of $279.24 and a one year high of $423.56. The company has a market capitalization of $22.89 billion, a P/E ratio of 35.98, a price-to-earnings-growth ratio of 3.79 and a beta of 1.01.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on WAT. Barclays raised Waters from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $360.00 to $415.00 in a research report on Monday, February 10th. UBS Group boosted their target price on Waters from $405.00 to $410.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Scotiabank raised Waters from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $430.00 to $450.00 in a research report on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on Waters from $380.00 to $390.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, StockNews.com lowered Waters from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Eleven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $391.07.

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.