Hunter Perkins Capital Management LLC Trims Stock Position in Waters Co. (NYSE:WAT)

Hunter Perkins Capital Management LLC cut its stake in shares of Waters Co. (NYSE:WAT) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,295 shares of the medical instruments supplier’s stock after selling 243 shares during the quarter. Hunter Perkins Capital Management LLC’s holdings in Waters were worth $3,345,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of WAT. Dimensional Fund Advisors LP boosted its stake in Waters by 21.0% in the second quarter. Dimensional Fund Advisors LP now owns 448,304 shares of the medical instruments supplier’s stock valued at $130,053,000 after acquiring an additional 77,951 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Waters by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,837,662 shares of the medical instruments supplier’s stock worth $2,251,163,000 after purchasing an additional 64,525 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Waters by 8.6% during the second quarter. Van ECK Associates Corp now owns 652,892 shares of the medical instruments supplier’s stock worth $189,417,000 after purchasing an additional 51,853 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Waters during the second quarter worth $9,295,000. Finally, Swedbank AB purchased a new position in shares of Waters during the first quarter worth $10,106,000. 94.01% of the stock is owned by hedge funds and other institutional investors.

Waters Stock Performance

Shares of NYSE:WAT traded down $7.90 during midday trading on Wednesday, hitting $352.10. The stock had a trading volume of 102,746 shares, compared to its average volume of 421,897. The company has a market capitalization of $20.90 billion, a PE ratio of 35.86, a P/E/G ratio of 7.02 and a beta of 0.95. The stock has a 50 day moving average price of $341.29 and a two-hundred day moving average price of $324.78. The company has a current ratio of 2.10, a quick ratio of 1.42 and a debt-to-equity ratio of 1.42. Waters Co. has a 1 year low of $231.90 and a 1 year high of $367.21.

Waters (NYSE:WAT) last announced its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported $2.63 EPS for the quarter, beating the consensus estimate of $2.55 by $0.08. The firm had revenue of $709.00 million during the quarter, compared to analysts’ expectations of $700.09 million. Waters had a net margin of 20.71% and a return on equity of 56.81%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.80 earnings per share. As a group, equities analysts predict that Waters Co. will post 11.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WAT. Leerink Partners raised shares of Waters from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $325.00 to $375.00 in a report on Thursday, August 1st. Wells Fargo & Company started coverage on shares of Waters in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $380.00 target price on the stock. Jefferies Financial Group upgraded shares of Waters from a “hold” rating to a “buy” rating and lifted their target price for the company from $355.00 to $415.00 in a research report on Tuesday, October 8th. Barclays lifted their target price on shares of Waters from $300.00 to $330.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, Evercore ISI lifted their target price on shares of Waters from $335.00 to $355.00 and gave the company an “in-line” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Waters has a consensus rating of “Hold” and an average price target of $338.36.

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.