JPMorgan Chase & Co. Reduces Stock Position in Waters Co. (NYSE:WAT)

JPMorgan Chase & Co. decreased its holdings in shares of Waters Co. (NYSE:WAT - Free Report) by 45.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 167,882 shares of the medical instruments supplier's stock after selling 137,779 shares during the period. JPMorgan Chase & Co. owned 0.28% of Waters worth $62,281,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in WAT. Bank of Jackson Hole Trust purchased a new stake in Waters during the 4th quarter valued at $34,000. Fortitude Family Office LLC increased its holdings in Waters by 235.7% in the 4th quarter. Fortitude Family Office LLC now owns 94 shares of the medical instruments supplier's stock worth $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% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier's stock worth $35,000 after buying an additional 53 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in Waters during the 4th quarter valued at about $42,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Waters by 54.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 125 shares of the medical instruments supplier's stock valued at $46,000 after acquiring an additional 44 shares during the last quarter. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Waters Stock Up 9.2 %

Shares of WAT traded up $28.21 during mid-day trading on Wednesday, hitting $335.92. 1,254,586 shares of the company traded hands, compared to its average volume of 472,797. The business has a 50 day moving average of $372.44 and a 200 day moving average of $372.68. The company has a market capitalization of $19.96 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 3.79 and a beta of 1.04. 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 Co. has a 1-year low of $279.24 and a 1-year high of $423.56.

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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 (EPS) for the quarter, topping 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%. Equities research analysts anticipate that Waters Co. will post 12.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WAT. JPMorgan Chase & Co. lifted their price objective on Waters from $380.00 to $390.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. UBS Group raised their price objective on shares of Waters from $405.00 to $410.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Robert W. Baird raised shares of Waters from a "neutral" rating to an "outperform" rating and upped their target price for the company from $396.00 to $407.00 in a report on Wednesday, March 26th. KeyCorp upgraded shares of Waters from a "sector weight" rating to an "overweight" rating and set a $460.00 price target on the stock in a research note on Monday, March 31st. Finally, Baird R W raised Waters from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 26th. Ten research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Waters presently has a consensus rating of "Moderate Buy" and an average target price of $401.31.

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.