Bank of Montreal Can Sells 1,508 Shares of Waters Co. (NYSE:WAT)

Bank of Montreal Can cut its position in Waters Co. (NYSE:WAT) by 1.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,807 shares of the medical instruments supplier’s stock after selling 1,508 shares during the quarter. Bank of Montreal Can owned approximately 0.18% of Waters worth $37,451,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Swedbank AB bought a new position in Waters in the first quarter worth about $10,106,000. Northwestern Mutual Wealth Management Co. raised its holdings in Waters by 96.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 868 shares of the medical instruments supplier’s stock worth $252,000 after purchasing an additional 427 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Waters by 61.6% during the first quarter. Tidal Investments LLC now owns 6,584 shares of the medical instruments supplier’s stock valued at $2,267,000 after acquiring an additional 2,509 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Waters by 8.6% during the second quarter. Toronto Dominion Bank now owns 26,234 shares of the medical instruments supplier’s stock valued at $7,611,000 after acquiring an additional 2,086 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Waters by 21.0% during 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. 94.01% of the stock is currently owned by institutional investors.

Waters Trading Down 0.4 %

Waters stock opened at $386.57 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.14. Waters Co. has a 12 month low of $273.60 and a 12 month high of $395.44. The stock’s 50 day simple moving average is $357.28 and its two-hundred day simple moving average is $332.98. The firm has a market cap of $22.95 billion, a PE ratio of 36.89, a P/E/G ratio of 7.10 and a beta of 0.97.

Waters (NYSE:WAT) last announced its earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share 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 return on equity of 49.93% and a net margin of 21.43%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.84 EPS. Analysts anticipate that Waters Co. will post 11.79 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Leerink Partnrs upgraded shares of Waters from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Waters from $310.00 to $325.00 and gave the company a “hold” rating in a report on Monday, November 4th. Barclays upped their price objective on shares of Waters from $330.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, November 4th. Leerink Partners upgraded shares of Waters from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $325.00 to $375.00 in a report on Thursday, August 1st. Finally, Jefferies Financial Group upgraded shares of Waters from a “hold” rating to a “buy” rating and upped their price objective for the company from $355.00 to $415.00 in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.