PFM Health Sciences LP Raises Stake in Waters Co. (NYSE:WAT)

PFM Health Sciences LP boosted its holdings in shares of Waters Co. (NYSE:WAT) by 148.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 51,063 shares of the medical instruments supplier’s stock after purchasing an additional 30,522 shares during the period. PFM Health Sciences LP owned approximately 0.09% of Waters worth $18,377,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Van ECK Associates Corp lifted its stake in shares of Waters by 1.0% in the 3rd quarter. Van ECK Associates Corp now owns 659,539 shares of the medical instruments supplier’s stock worth $219,811,000 after acquiring an additional 6,647 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Waters by 70.7% in the third quarter. Principal Financial Group Inc. now owns 656,019 shares of the medical instruments supplier’s stock valued at $236,095,000 after purchasing an additional 271,804 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Waters by 3.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 477,144 shares of the medical instruments supplier’s stock valued at $171,719,000 after purchasing an additional 17,185 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Waters by 21.0% in the second quarter. Dimensional Fund Advisors LP now owns 448,304 shares of the medical instruments supplier’s stock valued at $130,053,000 after purchasing an additional 77,951 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Waters by 34.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 393,890 shares of the medical instruments supplier’s stock valued at $141,757,000 after purchasing an additional 100,811 shares during the period. 94.01% of the stock is owned by hedge funds and other institutional investors.

Waters Price Performance

WAT opened at $384.72 on Friday. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 1.14. Waters Co. has a 52-week low of $276.84 and a 52-week high of $395.44. The company has a 50 day moving average of $358.24 and a two-hundred day moving average of $333.35. The company has a market cap of $22.84 billion, a P/E ratio of 36.71, a P/E/G ratio of 7.07 and a beta of 0.97.

Waters (NYSE:WAT) last posted its earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.25. Waters had a net margin of 21.43% and a return on equity of 49.93%. The business had revenue of $740.30 million for the quarter, compared to analysts’ expectations of $712.99 million. During the same period in the previous year, the company posted $2.84 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, analysts expect that Waters Co. will post 11.79 earnings per share for the current year.

Analyst Ratings Changes

WAT has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on shares of Waters from $340.00 to $380.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Stifel Nicolaus lifted their target price on shares of Waters from $332.00 to $360.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Cfra set a $389.00 target price on shares of Waters in a research report on Thursday, October 17th. Barclays lifted their price target on shares of Waters from $330.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, November 4th. Finally, Evercore ISI lifted their price target on shares of Waters from $335.00 to $355.00 and gave the stock an “in-line” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Waters presently has a consensus rating of “Hold” and an average target price of $365.85.

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.