Primecap Management Co. CA Boosts Stock Position in Waters Co. (NYSE:WAT)

Primecap Management Co. CA boosted its stake in shares of Waters Co. (NYSE:WAT) by 7.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,859 shares of the medical instruments supplier’s stock after acquiring an additional 6,700 shares during the quarter. Primecap Management Co. CA owned 0.17% of Waters worth $28,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of WAT. Linscomb Wealth Inc. lifted its holdings in Waters by 0.4% in the 2nd quarter. Linscomb Wealth Inc. now owns 7,841 shares of the medical instruments supplier’s stock worth $2,275,000 after buying an additional 34 shares during the period. Johnson Investment Counsel Inc. lifted its holdings in Waters by 3.2% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,084 shares of the medical instruments supplier’s stock worth $314,000 after buying an additional 34 shares during the period. Hohimer Wealth Management LLC lifted its holdings in Waters by 2.7% in the 4th quarter. Hohimer Wealth Management LLC now owns 1,354 shares of the medical instruments supplier’s stock worth $446,000 after buying an additional 35 shares during the period. Retirement Systems of Alabama lifted its holdings in Waters by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 13,087 shares of the medical instruments supplier’s stock worth $3,797,000 after buying an additional 37 shares during the period. Finally, Armstrong Henry H Associates Inc. lifted its holdings in Waters by 0.4% in the 1st quarter. Armstrong Henry H Associates Inc. now owns 10,819 shares of the medical instruments supplier’s stock worth $3,724,000 after buying an additional 40 shares during the period. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Waters Stock Performance

Shares of WAT opened at $328.97 on Wednesday. The business’s fifty day simple moving average is $326.45 and its two-hundred day simple moving average is $324.56. The company has a current ratio of 2.10, a quick ratio of 1.42 and a debt-to-equity ratio of 1.42. Waters Co. has a 12 month low of $231.90 and a 12 month high of $367.21. The company has a market cap of $19.51 billion, a price-to-earnings ratio of 32.28, a P/E/G ratio of 5.59 and a beta of 0.95.

Waters (NYSE:WAT) last issued its earnings results on Wednesday, July 31st. The medical instruments supplier reported $2.63 EPS for the quarter, beating the consensus estimate of $2.55 by $0.08. Waters had a return on equity of 56.81% and a net margin of 20.71%. The business had revenue of $709.00 million for the quarter, compared to the consensus estimate of $700.09 million. During the same period last year, the business posted $2.80 EPS. The company’s revenue was down 4.3% compared to the same quarter last year. Research analysts anticipate that Waters Co. will post 11.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WAT. Wells Fargo & Company began coverage on Waters in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $380.00 target price for the company. TD Cowen increased their target price on Waters from $325.00 to $363.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Leerink Partners raised Waters from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $325.00 to $375.00 in a research report on Thursday, August 1st. Evercore ISI decreased their target price on Waters from $320.00 to $300.00 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. Finally, Leerink Partnrs raised Waters from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $318.50.

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.