Investment Advisory Group LLC Decreases Stock Holdings in Waters Co. (NYSE:WAT)

Investment Advisory Group LLC lowered its stake in shares of Waters Co. (NYSE:WAT) by 8.3% during the third quarter, Holdings Channel reports. The institutional investor owned 1,890 shares of the medical instruments supplier’s stock after selling 172 shares during the period. Investment Advisory Group LLC’s holdings in Waters were worth $680,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Indiana Trust & Investment Management CO purchased a new stake in Waters during the first quarter worth about $25,000. Riverview Trust Co purchased a new stake in Waters during the first quarter worth about $28,000. Itau Unibanco Holding S.A. purchased a new stake in Waters during the second quarter worth about $33,000. Blue Trust Inc. boosted its holdings 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 buying an additional 78 shares in the last quarter. Finally, TFC Financial Management Inc. raised 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 acquiring an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Waters Trading Up 0.8 %

NYSE:WAT traded up $2.75 during trading hours on Tuesday, reaching $360.00. 394,354 shares of the company were exchanged, compared to its average volume of 423,557. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.10 and a quick ratio of 1.42. The firm has a market cap of $21.37 billion, a price-to-earnings ratio of 35.86, a PEG ratio of 6.93 and a beta of 0.95. Waters Co. has a 52-week low of $231.90 and a 52-week high of $367.21. The stock has a 50 day simple moving average of $341.29 and a 200 day simple moving average of $324.78.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Waters in a research report on Tuesday, August 27th. They set an “overweight” rating and a $380.00 target price for the company. Leerink Partners upgraded shares of Waters from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $325.00 to $375.00 in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut their target price on shares of Waters from $330.00 to $310.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Barclays lifted their target price on shares of Waters from $300.00 to $330.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, The Goldman Sachs Group upgraded shares of Waters to a “hold” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $338.36.

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.