Madison Investment Advisors LLC Buys Shares of 282,076 Waters Co. (NYSE:WAT)

Madison Investment Advisors LLC acquired a new position in shares of Waters Co. (NYSE:WAT) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 282,076 shares of the medical instruments supplier’s stock, valued at approximately $104,645,000. Waters makes up 1.2% of Madison Investment Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding.

A number of other large investors have also recently bought and sold shares of the business. QRG Capital Management Inc. bought a new position in Waters during the third quarter worth $208,000. Assetmark Inc. increased its position in Waters by 16.5% in the 3rd quarter. Assetmark Inc. now owns 1,200 shares of the medical instruments supplier’s stock valued at $432,000 after buying an additional 170 shares in the last quarter. Atria Investments Inc increased its position in Waters by 10.3% in the 3rd quarter. Atria Investments Inc now owns 3,141 shares of the medical instruments supplier’s stock valued at $1,130,000 after buying an additional 294 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Waters during the third quarter worth about $35,000. Finally, Venturi Wealth Management LLC raised its holdings in Waters by 51.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 911 shares of the medical instruments supplier’s stock valued at $328,000 after acquiring an additional 310 shares during the period. 94.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on WAT shares. JPMorgan Chase & Co. raised their target price on Waters from $380.00 to $390.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Wells Fargo & Company increased their target price on shares of Waters from $415.00 to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Scotiabank upgraded shares of Waters from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $430.00 to $450.00 in a research report on Thursday, February 13th. Bank of America reduced their target price on Waters from $430.00 to $410.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, Barclays raised Waters from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $360.00 to $415.00 in a report on Monday, February 10th. Eleven research analysts have rated the stock with a hold rating, five have assigned 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 target price of $391.07.

Waters Stock Performance

Shares of WAT stock opened at $372.92 on Thursday. Waters Co. has a 12 month low of $279.24 and a 12 month high of $423.56. The stock has a market cap of $22.16 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 3.79 and a beta of 1.00. The company’s fifty day moving average price is $391.20 and its 200-day moving average price is $369.80. The company has a current ratio of 0.94, a quick ratio of 0.65 and a debt-to-equity ratio of 1.14.

Waters (NYSE:WAT) last posted its quarterly earnings results on Wednesday, February 12th. The medical instruments supplier reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.08. Waters had a return on equity of 46.31% and a net margin of 21.56%. On average, equities analysts expect that Waters Co. will post 12.86 EPS for the current fiscal year.

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.