Centiva Capital LP Lowers Stock Position in Waters Co. (NYSE:WAT)

Centiva Capital LP reduced its position in shares of Waters Co. (NYSE:WAT - Free Report) by 75.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,184 shares of the medical instruments supplier's stock after selling 6,766 shares during the quarter. Centiva Capital LP's holdings in Waters were worth $786,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WAT. Northwestern Mutual Wealth Management Co. grew its position in Waters by 96.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 868 shares of the medical instruments supplier's stock valued at $252,000 after acquiring an additional 427 shares during the last quarter. Toronto Dominion Bank increased its stake in Waters by 8.6% in the 2nd quarter. Toronto Dominion Bank now owns 26,234 shares of the medical instruments supplier's stock worth $7,611,000 after buying an additional 2,086 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Waters by 21.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 448,304 shares of the medical instruments supplier's stock valued at $130,053,000 after buying an additional 77,951 shares in the last quarter. Magnetar Financial LLC purchased a new stake in Waters in the 2nd quarter valued at about $2,944,000. Finally, Cetera Investment Advisers grew its stake in Waters by 310.2% in the 1st quarter. Cetera Investment Advisers now owns 4,635 shares of the medical instruments supplier's stock worth $1,596,000 after acquiring an additional 3,505 shares in the last quarter. 94.01% of the stock is owned by hedge funds and other institutional investors.

Waters Stock Performance

Shares of Waters stock traded up $2.72 during midday trading on Friday, hitting $384.05. The company had a trading volume of 416,765 shares, compared to its average volume of 516,098. The company has a fifty day simple moving average of $363.07 and a 200 day simple moving average of $334.44. The stock has a market cap of $22.80 billion, a price-to-earnings ratio of 36.65, a PEG ratio of 7.16 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 Co. has a 12-month low of $279.24 and a 12-month high of $395.50.

Waters (NYSE:WAT - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, topping the consensus estimate of $2.68 by $0.25. The business 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%. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.84 earnings per share. As a group, analysts predict that Waters Co. will post 11.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WAT. Jefferies Financial Group upgraded Waters from a "hold" rating to a "buy" rating and lifted their price objective for the company from $355.00 to $415.00 in a report on Tuesday, October 8th. Wells Fargo & Company boosted their price target on shares of Waters from $380.00 to $415.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Evercore ISI increased their price objective on shares of Waters from $335.00 to $355.00 and gave the company an "in-line" rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price objective on shares of Waters from $340.00 to $380.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. Finally, Barclays increased their target price on Waters from $330.00 to $360.00 and gave the company an "underweight" rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Waters currently has a consensus 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.