Mackenzie Financial Corp Acquires 14,949 Shares of Waters Co. (NYSE:WAT)

Mackenzie Financial Corp boosted its stake in shares of Waters Co. (NYSE:WAT - Free Report) by 7.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 209,538 shares of the medical instruments supplier's stock after purchasing an additional 14,949 shares during the quarter. Mackenzie Financial Corp owned about 0.35% of Waters worth $60,791,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WAT. Indiana Trust & Investment Management CO acquired a new position in shares of Waters during the 1st quarter worth about $25,000. Riverview Trust Co acquired a new position in shares of Waters during the first quarter worth approximately $28,000. Itau Unibanco Holding S.A. acquired a new position in shares of Waters during the second quarter worth approximately $33,000. Blue Trust Inc. boosted its position in shares of Waters by 190.2% in the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier's stock valued at $35,000 after acquiring an additional 78 shares during the period. Finally, TFC Financial Management Inc. grew its stake in shares of Waters by 19,900.0% in the second quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier's stock worth $58,000 after acquiring an additional 199 shares during the last quarter. Institutional investors and hedge funds own 94.01% of the company's stock.

Waters Price Performance

Shares of Waters stock traded up $1.65 during mid-day trading on Friday, reaching $357.33. 689,499 shares of the stock were exchanged, compared to its average volume of 427,122. The company has a market cap of $21.21 billion, a price-to-earnings ratio of 35.07, a price-to-earnings-growth ratio of 5.96 and a beta of 0.95. Waters Co. has a fifty-two week low of $231.90 and a fifty-two week high of $367.21. The company has a current ratio of 2.10, a quick ratio of 1.42 and a debt-to-equity ratio of 1.42. The firm has a 50-day simple moving average of $333.53 and a 200 day simple moving average of $324.14.

Waters (NYSE:WAT - Get Free Report) last announced its earnings results on Wednesday, July 31st. The medical instruments supplier reported $2.63 EPS for the quarter, topping the consensus estimate of $2.55 by $0.08. Waters had a return on equity of 56.81% and a net margin of 20.71%. The business had revenue of $709.00 million for the quarter, compared to the consensus estimate of $700.09 million. During the same period in the previous year, the business earned $2.80 EPS. Waters's revenue was down 4.3% compared to the same quarter last year. On average, sell-side analysts predict that Waters Co. will post 11.6 EPS for the current fiscal year.

Analyst Ratings Changes

WAT has been the subject of several research analyst reports. Leerink Partners upgraded shares of Waters from a "market perform" rating to an "outperform" rating and upped their target price for the company from $325.00 to $375.00 in a research note on Thursday, August 1st. TD Cowen increased their target price on shares of Waters from $325.00 to $363.00 and gave the company a "hold" rating in a research note on Thursday, August 1st. Wells Fargo & Company started coverage on Waters in a research note on Tuesday, August 27th. They set an "overweight" rating and a $380.00 price target on the stock. The Goldman Sachs Group raised Waters to a "hold" rating in a report on Wednesday, July 31st. Finally, Jefferies Financial Group began coverage on Waters in a research report on Monday, June 3rd. They set a "hold" rating and a $320.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Waters currently has an average rating of "Hold" and an average target price of $318.50.

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.