C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes Position in Waters Co. (NYSE:WAT)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Waters Co. (NYSE:WAT) in the 4th quarter, Holdings Channel reports. The fund bought 8,469 shares of the medical instruments supplier’s stock, valued at approximately $2,909,000.

A number of other hedge funds have also added to or reduced their stakes in WAT. Kennebec Savings Bank acquired a new position in shares of Waters during the third quarter valued at about $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Waters in the 3rd quarter valued at about $35,000. Fortitude Family Office LLC increased its position in Waters by 235.7% in the 4th quarter. Fortitude Family Office LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after buying an additional 66 shares in the last quarter. R Squared Ltd acquired a new position in Waters during the 4th quarter worth approximately $63,000. Finally, Itau Unibanco Holding S.A. boosted its holdings in Waters by 63.2% in the third quarter. Itau Unibanco Holding S.A. now owns 186 shares of the medical instruments supplier’s stock worth $67,000 after acquiring an additional 72 shares in the last quarter. 94.01% of the stock is currently owned by institutional investors.

Waters Stock Performance

Shares of WAT opened at $382.45 on Thursday. The stock has a 50 day moving average of $390.16 and a 200 day moving average of $363.86. The company has a market capitalization of $22.71 billion, a price-to-earnings ratio of 36.49, a PEG ratio of 7.37 and a beta of 1.01. Waters Co. has a 12 month low of $279.24 and a 12 month high of $423.56. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.14.

Waters (NYSE:WAT) last announced its earnings results on Wednesday, February 12th. The medical instruments supplier reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.08. Waters had a return on equity of 49.93% and a net margin of 21.43%. As a group, sell-side analysts forecast that Waters Co. will post 11.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WAT. Barclays upgraded Waters from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $360.00 to $415.00 in a report on Monday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Waters from $310.00 to $325.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company lifted their price objective on shares of Waters from $380.00 to $415.00 and gave the company an “overweight” 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 stock a “neutral” rating in a report on Friday, December 13th. Finally, Scotiabank began coverage on shares of Waters in a research report on Monday, December 23rd. They issued a “sector perform” rating and a $430.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Waters has an average rating of “Hold” and a consensus target price of $388.64.

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.