Millstone Evans Group LLC Invests $1.23 Million in Waters Co. (NYSE:WAT)

Millstone Evans Group LLC purchased a new position in shares of Waters Co. (NYSE:WAT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,307 shares of the medical instruments supplier's stock, valued at approximately $1,227,000. Waters comprises about 0.8% of Millstone Evans Group LLC's holdings, making the stock its 24th biggest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealthfront Advisers LLC boosted its stake in shares of Waters by 106,144.4% during the 4th quarter. Wealthfront Advisers LLC now owns 3,087,461 shares of the medical instruments supplier's stock worth $1,145,386,000 after acquiring an additional 3,084,555 shares in the last quarter. Madison Investment Advisors LLC acquired a new position in shares of Waters during the 4th quarter worth approximately $104,645,000. Principal Financial Group Inc. increased its holdings in Waters by 70.7% in the 3rd quarter. Principal Financial Group Inc. now owns 656,019 shares of the medical instruments supplier's stock worth $236,095,000 after acquiring an additional 271,804 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Waters by 7,120.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 189,401 shares of the medical instruments supplier's stock worth $70,264,000 after purchasing an additional 186,778 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Waters during the fourth quarter worth about $42,114,000. Institutional investors and hedge funds own 94.01% of the company's stock.

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Waters Stock Performance

WAT traded down $4.16 during trading on Tuesday, hitting $369.14. 94,645 shares of the stock were exchanged, compared to its average volume of 474,393. The firm has a market capitalization of $21.93 billion, a P/E ratio of 34.47, a PEG ratio of 3.79 and a beta of 1.00. Waters Co. has a 1-year low of $279.24 and a 1-year high of $423.56. The stock has a fifty day moving average price of $390.29 and a two-hundred day moving average price of $371.85. The company has a quick ratio of 0.65, a current ratio of 0.94 and a debt-to-equity ratio of 1.14.

Waters (NYSE:WAT - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The medical instruments supplier reported $4.10 EPS for the quarter, beating the consensus estimate of $4.02 by $0.08. Waters had a net margin of 21.56% and a return on equity of 46.31%. As a group, sell-side analysts predict that Waters Co. will post 12.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on WAT shares. Sanford C. Bernstein raised shares of Waters from a "market perform" rating to an "outperform" rating and set a $430.00 target price on the stock in a research note on Friday, January 10th. StockNews.com cut shares of Waters from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lifted their target price on shares of Waters from $380.00 to $390.00 and gave the stock a "neutral" rating in a research note on Thursday, March 6th. UBS Group increased their price target on shares of Waters from $405.00 to $410.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company raised their target price on Waters from $415.00 to $420.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Eleven analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Waters has a consensus rating of "Hold" and a consensus target price of $391.07.

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.