Franklin Resources Inc. Has $25.19 Million Position in Waters Co. (NYSE:WAT)

Franklin Resources Inc. lifted its position in shares of Waters Co. (NYSE:WAT - Free Report) by 74.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,507 shares of the medical instruments supplier's stock after acquiring an additional 30,101 shares during the quarter. Franklin Resources Inc. owned approximately 0.12% of Waters worth $25,189,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of Waters by 70.7% during the third quarter. Principal Financial Group Inc. now owns 656,019 shares of the medical instruments supplier's stock worth $236,095,000 after purchasing an additional 271,804 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Waters by 34.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 393,890 shares of the medical instruments supplier's stock worth $141,757,000 after purchasing an additional 100,811 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 buying an additional 77,951 shares in the last quarter. Applied Finance Capital Management LLC increased its position in shares of Waters by 3,627.0% during the third quarter. Applied Finance Capital Management LLC now owns 68,987 shares of the medical instruments supplier's stock worth $24,828,000 after acquiring an additional 67,136 shares in the last quarter. Finally, Natixis Advisors LLC raised its holdings in shares of Waters by 71.9% during the third quarter. Natixis Advisors LLC now owns 140,992 shares of the medical instruments supplier's stock worth $50,742,000 after acquiring an additional 58,983 shares during the period. Institutional investors and hedge funds own 94.01% of the company's stock.

Waters Stock Performance

WAT stock traded up $7.53 during midday trading on Friday, reaching $368.16. 1,737,250 shares of the company were exchanged, compared to its average volume of 447,060. The firm has a market capitalization of $21.86 billion, a price-to-earnings ratio of 35.13, a price-to-earnings-growth ratio of 6.92 and a beta of 1.01. The business has a 50-day moving average price of $367.05 and a two-hundred day moving average price of $337.42. Waters Co. has a one year low of $279.24 and a one year high of $397.02. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.02 and a quick ratio of 1.38.

Waters (NYSE:WAT - Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.25. The business had revenue of $740.30 million for the quarter, compared to analyst estimates of $712.99 million. Waters had a net margin of 21.43% and a return on equity of 49.93%. Waters's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.84 EPS. Equities research analysts forecast that Waters Co. will post 11.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WAT shares. Wells Fargo & Company lifted their price target on Waters from $380.00 to $415.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Cfra set a $389.00 price objective on shares of Waters in a research report on Thursday, October 17th. TD Cowen raised their target price on shares of Waters from $363.00 to $410.00 and gave the company a "hold" rating in a research report on Monday, November 4th. Barclays lifted their price target on shares of Waters from $330.00 to $360.00 and gave the company an "underweight" rating in a research note on Monday, November 4th. Finally, Bank of America raised their price objective on Waters from $400.00 to $430.00 and gave the company a "neutral" rating in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Waters presently has a consensus rating of "Hold" and a consensus price target of $375.85.

Waters 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.