Norges Bank Acquires Shares of 766,658 Waters Co. (NYSE:WAT)

Norges Bank purchased a new position in shares of Waters Co. (NYSE:WAT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 766,658 shares of the medical instruments supplier's stock, valued at approximately $284,415,000. Norges Bank owned approximately 1.29% of Waters as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Jackson Hole Trust acquired a new stake in Waters during the 4th quarter worth approximately $34,000. Fortitude Family Office LLC increased its position in shares of Waters by 235.7% in the fourth 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. Steward Partners Investment Advisory LLC raised its position in Waters by 129.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier's stock worth $35,000 after acquiring an additional 53 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in Waters during the 4th quarter valued at $42,000. Finally, EverSource Wealth Advisors LLC raised its stake in Waters by 54.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 125 shares of the medical instruments supplier's stock valued at $46,000 after purchasing an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 94.01% of the company's stock.

Remove Ads

Analysts Set New Price Targets

WAT has been the topic of a number of research analyst reports. StockNews.com lowered shares of Waters from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Robert W. Baird upgraded Waters from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $396.00 to $407.00 in a research note on Wednesday, March 26th. Wells Fargo & Company upped their target price on shares of Waters from $415.00 to $420.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Sanford C. Bernstein upgraded shares of Waters from a "market perform" rating to an "outperform" rating and set a $430.00 target price for the company in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. raised their price target on Waters from $380.00 to $390.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Waters currently has a consensus rating of "Moderate Buy" and an average target price of $401.31.

Waters Price Performance

NYSE:WAT traded down $13.14 during trading hours on Tuesday, reaching $355.43. 560,995 shares of the company were exchanged, compared to its average volume of 455,183. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.94 and a quick ratio of 0.65. Waters Co. has a 1-year low of $279.24 and a 1-year high of $423.56. The company has a market capitalization of $21.12 billion, a P/E ratio of 33.19, a P/E/G ratio of 3.79 and a beta of 1.00. The business has a 50 day moving average of $386.70 and a 200 day moving average of $373.25.

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