Smith Group Asset Management LLC Purchases Shares of 59,810 Waters Co. (NYSE:WAT)

Smith Group Asset Management LLC acquired a new position in shares of Waters Co. (NYSE:WAT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 59,810 shares of the medical instruments supplier’s stock, valued at approximately $22,188,000. Waters accounts for about 1.6% of Smith Group Asset Management LLC’s investment portfolio, making the stock its 28th biggest holding. Smith Group Asset Management LLC owned 0.10% of Waters as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Kennebec Savings Bank bought a new position in Waters during the third quarter valued at about $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Waters during the 3rd quarter worth approximately $35,000. Fortitude Family Office LLC increased 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 valued at $35,000 after purchasing an additional 66 shares during the period. R Squared Ltd bought a new stake in shares of Waters during the fourth quarter valued at approximately $63,000. Finally, Itau Unibanco Holding S.A. raised its stake in shares of Waters by 63.2% in the third quarter. Itau Unibanco Holding S.A. now owns 186 shares of the medical instruments supplier’s stock valued at $67,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 94.01% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on WAT shares. JPMorgan Chase & Co. boosted their price target on shares of Waters from $340.00 to $380.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Bank of America upped their target price on shares of Waters from $400.00 to $430.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. TD Cowen raised their price target on shares of Waters from $363.00 to $410.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Barclays lifted their price objective on Waters from $330.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group raised Waters from a “hold” rating to a “buy” rating and increased their target price for the stock from $355.00 to $415.00 in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Waters currently has an average rating of “Hold” and a consensus target price of $384.71.

Waters Stock Performance

Shares of NYSE:WAT opened at $413.02 on Wednesday. The business has a fifty day moving average of $384.19 and a 200-day moving average of $356.56. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.38 and a current ratio of 2.02. Waters Co. has a twelve month low of $279.24 and a twelve month high of $419.28. The firm has a market cap of $24.52 billion, a PE ratio of 39.41, a price-to-earnings-growth ratio of 7.17 and a beta of 1.01.

Waters (NYSE:WAT) last posted its quarterly earnings data on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.25. Waters had a net margin of 21.43% and a return on equity of 49.93%. The firm had revenue of $740.30 million during the quarter, compared to analysts’ expectations of $712.99 million. During the same quarter last year, the company posted $2.84 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts predict that Waters Co. will post 11.79 EPS 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.