Smith Group Asset Management LLC Takes $22.19 Million Position in Waters Co. (NYSE:WAT)

Smith Group Asset Management LLC purchased a new position in shares of Waters Co. (NYSE:WAT) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 59,810 shares of the medical instruments supplier’s stock, valued at approximately $22,188,000. Waters accounts for approximately 1.6% of Smith Group Asset Management LLC’s holdings, making the stock its 28th biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of WAT. Advisory Alpha LLC grew its position in shares of Waters by 2.6% during the 4th quarter. Advisory Alpha LLC now owns 1,065 shares of the medical instruments supplier’s stock worth $395,000 after buying an additional 27 shares during the period. Summit Trail Advisors LLC grew its holdings in Waters by 2.4% during the third quarter. Summit Trail Advisors LLC now owns 1,198 shares of the medical instruments supplier’s stock valued at $431,000 after purchasing an additional 28 shares during the period. OneDigital Investment Advisors LLC increased its stake in Waters by 3.8% in the third quarter. OneDigital Investment Advisors LLC now owns 851 shares of the medical instruments supplier’s stock valued at $306,000 after purchasing an additional 31 shares in the last quarter. Blue Trust Inc. raised its holdings in Waters by 9.6% in the fourth quarter. Blue Trust Inc. now owns 353 shares of the medical instruments supplier’s stock worth $127,000 after purchasing an additional 31 shares during the period. Finally, Raymond James Trust N.A. boosted its position in shares of Waters by 2.4% during the third quarter. Raymond James Trust N.A. now owns 1,340 shares of the medical instruments supplier’s stock worth $482,000 after purchasing an additional 32 shares in the last quarter. 94.01% of the stock is owned by institutional investors.

Waters Stock Performance

WAT opened at $413.02 on Wednesday. Waters Co. has a 12-month low of $279.24 and a 12-month high of $419.28. The stock has a market cap of $24.52 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 7.17 and a beta of 1.01. The business has a 50 day moving average of $384.19 and a 200-day moving average of $356.56. 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) last posted its earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, beating the consensus estimate 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 prior year, the business earned $2.84 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts expect that Waters Co. will post 11.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WAT. JPMorgan Chase & Co. boosted their target price on Waters from $340.00 to $380.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Stifel Nicolaus raised their price target on shares of Waters from $332.00 to $360.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Sanford C. Bernstein raised shares of Waters from a “market perform” rating to an “outperform” rating and set a $430.00 price objective on the stock in a research report on Friday, January 10th. Wells Fargo & Company raised their target price 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. Finally, Jefferies Financial Group raised shares of Waters from a “hold” rating to a “buy” rating and boosted their price target for the stock from $355.00 to $415.00 in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $384.71.

About Waters

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.