Empirical Finance LLC Boosts Holdings in Waters Co. (NYSE:WAT)

Empirical Finance LLC grew its holdings in shares of Waters Co. (NYSE:WAT) by 2.1% in the third quarter, Holdings Channel.com reports. The firm owned 2,027 shares of the medical instruments supplier’s stock after buying an additional 42 shares during the period. Empirical Finance LLC’s holdings in Waters were worth $729,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kennebec Savings Bank bought a new position in Waters during the third quarter worth about $33,000. Ashton Thomas Securities LLC bought a new position in Waters during the third quarter worth about $35,000. Itau Unibanco Holding S.A. bought a new position in Waters during the second quarter worth about $33,000. Blue Trust Inc. boosted its position in Waters by 190.2% during the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock worth $35,000 after purchasing an additional 78 shares during the period. Finally, TFC Financial Management Inc. boosted its position in Waters by 19,900.0% during the second quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier’s stock worth $58,000 after purchasing an additional 199 shares during the period. Institutional investors own 94.01% of the company’s stock.

Waters Trading Down 4.8 %

WAT stock opened at $358.46 on Friday. The company has a market capitalization of $21.29 billion, a PE ratio of 34.20, a price-to-earnings-growth ratio of 6.56 and a beta of 0.97. Waters Co. has a one year low of $258.89 and a one year high of $393.38. The company’s 50 day moving average price is $350.75 and its two-hundred day moving average price is $330.58. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.38 and a current ratio of 2.02.

Waters (NYSE:WAT) last posted its quarterly earnings results 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 firm had revenue of $740.30 million for 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 was up 4.0% compared to the same quarter last year. During the same period last 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.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Waters from $310.00 to $325.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company raised their price objective on shares of Waters from $380.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. TD Cowen raised their price objective on shares of Waters from $363.00 to $410.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Stifel Nicolaus raised their price objective on shares of Waters from $332.00 to $360.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Waters from $340.00 to $380.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $365.85.

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.