Waters Co. (NYSE:WAT) Stock Position Reduced by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in shares of Waters Co. (NYSE:WAT - Free Report) by 7.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 271,162 shares of the medical instruments supplier's stock after selling 21,997 shares during the quarter. Wellington Management Group LLP owned approximately 0.46% of Waters worth $97,588,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in WAT. State Street Corp raised its stake in shares of Waters by 1.9% in the 3rd quarter. State Street Corp now owns 2,577,733 shares of the medical instruments supplier's stock valued at $927,700,000 after purchasing an additional 49,194 shares in the last quarter. Stifel Financial Corp lifted its holdings in Waters by 3.3% during the 3rd quarter. Stifel Financial Corp now owns 22,695 shares of the medical instruments supplier's stock worth $8,168,000 after buying an additional 720 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of Waters by 2.9% in the 3rd quarter. Quantinno Capital Management LP now owns 24,795 shares of the medical instruments supplier's stock worth $8,923,000 after acquiring an additional 708 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Waters in the 3rd quarter worth approximately $104,000. Finally, Investment Management Corp of Ontario increased its holdings in shares of Waters by 1.1% in the 3rd quarter. Investment Management Corp of Ontario now owns 66,915 shares of the medical instruments supplier's stock valued at $24,082,000 after acquiring an additional 700 shares during the last quarter. 94.01% of the stock is owned by institutional investors and hedge funds.

Waters Price Performance

Waters stock traded down $1.66 during trading hours on Tuesday, hitting $390.35. 490,071 shares of the company traded hands, compared to its average volume of 441,541. The firm's 50-day simple moving average is $363.71 and its two-hundred day simple moving average is $334.73. The firm has a market cap of $23.18 billion, a P/E ratio of 36.93, a P/E/G ratio of 7.03 and a beta of 1.01. Waters Co. has a 1-year low of $279.24 and a 1-year high of $395.76. 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 (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 analysts' consensus estimates of $2.68 by $0.25. Waters had a return on equity of 49.93% and a net margin of 21.43%. The company had revenue of $740.30 million for the quarter, compared to the consensus estimate of $712.99 million. During the same quarter in the previous year, the business earned $2.84 EPS. The company's quarterly revenue was up 4.0% compared to the same quarter last year. As a group, analysts forecast that Waters Co. will post 11.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WAT has been the subject of a number of research reports. Sanford C. Bernstein lifted their price objective on shares of Waters from $345.00 to $360.00 and gave the stock a "market perform" rating in a report on Monday, November 4th. Evercore ISI lifted their price target on shares of Waters from $335.00 to $355.00 and gave the company an "in-line" rating in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Waters from $310.00 to $325.00 and gave the stock a "hold" rating in a research note on Monday, November 4th. TD Cowen lifted their target price on Waters from $363.00 to $410.00 and gave the company a "hold" rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company increased their price target on Waters from $380.00 to $415.00 and gave the stock an "overweight" 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus 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.