Impax Asset Management Group plc Reduces Position in Waters Co. (NYSE:WAT)

Impax Asset Management Group plc cut its holdings in Waters Co. (NYSE:WAT - Free Report) by 5.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 645,646 shares of the medical instruments supplier's stock after selling 39,640 shares during the quarter. Impax Asset Management Group plc owned about 1.09% of Waters worth $232,362,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new stake in Waters during the 2nd quarter worth approximately $33,000. Blue Trust Inc. grew its holdings in shares of Waters by 190.2% during the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier's stock valued at $35,000 after buying an additional 78 shares during the last quarter. TFC Financial Management Inc. increased its position in shares of Waters by 19,900.0% in the 2nd quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier's stock valued at $58,000 after acquiring an additional 199 shares during the period. Federated Hermes Inc. purchased a new position in Waters in the 2nd quarter worth $59,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Waters during the 1st quarter worth about $72,000. Institutional investors and hedge funds own 94.01% of the company's stock.

Waters Price Performance

Shares of NYSE:WAT traded down $0.25 during trading on Tuesday, reaching $387.09. The stock had a trading volume of 533,008 shares, compared to its average volume of 431,912. The business has a fifty day moving average price of $343.05 and a 200-day moving average price of $326.09. Waters Co. has a 1-year low of $241.95 and a 1-year high of $391.00. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.55 and a current ratio of 0.83. The stock has a market cap of $22.98 billion, a PE ratio of 36.89, a PEG ratio of 7.59 and a beta of 0.97.

Waters (NYSE:WAT - Get Free Report) last released its quarterly earnings data 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 company had revenue of $740.30 million during the quarter, compared to the consensus estimate 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 firm earned $2.84 EPS. On average, equities analysts forecast that Waters Co. will post 11.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WAT has been the topic of a number of research reports. Stifel Nicolaus increased their price objective on Waters from $332.00 to $360.00 and gave the company a "hold" rating in a report on Monday. JPMorgan Chase & Co. raised their price target on shares of Waters from $340.00 to $380.00 and gave the stock a "neutral" rating in a research report on Monday. Cfra set a $389.00 price objective on shares of Waters in a report on Thursday, October 17th. Leerink Partnrs raised shares of Waters from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 1st. Finally, Sanford C. Bernstein upped their price target on shares of Waters from $345.00 to $360.00 and gave the company a "market perform" rating in a report on Monday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $365.85.

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.