JPMorgan Chase & Co. Boosts Stock Position in Waters Co. (NYSE:WAT)

JPMorgan Chase & Co. raised its holdings in shares of Waters Co. (NYSE:WAT - Free Report) by 37.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 305,661 shares of the medical instruments supplier's stock after purchasing an additional 82,865 shares during the period. JPMorgan Chase & Co. owned approximately 0.51% of Waters worth $110,005,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Kennebec Savings Bank purchased a new stake in shares of Waters during the third quarter valued at $33,000. Ashton Thomas Securities LLC bought a new position in Waters during the 3rd quarter valued at about $35,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Waters during the 2nd quarter valued at about $33,000. Federated Hermes Inc. bought a new stake in shares of Waters in the second quarter worth approximately $59,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Waters during the third quarter valued at approximately $100,000. Institutional investors own 94.01% of the company's stock.

Waters Price Performance

NYSE:WAT traded down $2.72 on Thursday, reaching $368.26. 343,621 shares of the company's stock traded hands, compared to its average volume of 441,656. The stock has a 50-day simple moving average of $371.97 and a 200-day simple moving average of $342.25. Waters Co. has a 12 month low of $279.24 and a 12 month high of $397.02. The firm has a market cap of $21.87 billion, a PE ratio of 35.14, a P/E/G ratio of 6.92 and a beta of 1.01. 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 (NYSE:WAT - Get Free Report) last posted its quarterly 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 return on equity of 49.93% and a net margin of 21.43%. The company 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 firm earned $2.84 EPS. The firm's revenue was up 4.0% compared to the same quarter last year. Equities research analysts forecast that Waters Co. will post 11.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WAT. Evercore ISI raised their target price 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. TD Cowen raised their price target on Waters from $363.00 to $410.00 and gave the stock a "hold" rating in a research note on Monday, November 4th. Cfra set a $389.00 price objective on Waters in a research report on Thursday, October 17th. Sanford C. Bernstein increased their target price on Waters from $345.00 to $360.00 and gave the company a "market perform" rating in a report on Monday, November 4th. Finally, Wells Fargo & Company boosted 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $379.71.

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.