Kensington Investment Counsel LLC Trims Holdings in Waters Co. (NYSE:WAT)

Kensington Investment Counsel LLC lessened its holdings in shares of Waters Co. (NYSE:WAT) by 32.2% during the fourth quarter, Holdings Channel reports. The firm owned 4,687 shares of the medical instruments supplier’s stock after selling 2,221 shares during the quarter. Kensington Investment Counsel LLC’s holdings in Waters were worth $1,739,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of WAT. Bank of Jackson Hole Trust purchased a new position in Waters during the 4th quarter valued at about $34,000. Fortitude Family Office LLC increased its holdings in Waters by 235.7% during the 4th quarter. Fortitude Family Office LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 66 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of Waters by 129.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier’s stock worth $35,000 after acquiring an additional 53 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Waters by 54.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 125 shares of the medical instruments supplier’s stock worth $46,000 after acquiring an additional 44 shares during the period. Finally, R Squared Ltd purchased a new position in shares of Waters during the 4th quarter worth approximately $63,000. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WAT shares. UBS Group upped their target price on Waters from $405.00 to $410.00 and gave the stock a “neutral” rating in a 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 on the stock in a report on Thursday, February 13th. Sanford C. Bernstein upgraded Waters from a “market perform” rating to an “outperform” rating and set a $430.00 target price on the stock in a report on Friday, January 10th. Scotiabank upgraded Waters from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $430.00 to $450.00 in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. upped their price target on Waters from $380.00 to $390.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Eleven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $391.07.

Waters Stock Performance

WAT stock opened at $378.65 on Tuesday. The stock has a market capitalization of $22.50 billion, a PE ratio of 35.35, a price-to-earnings-growth ratio of 3.79 and a beta of 1.00. Waters Co. has a 12-month low of $279.24 and a 12-month high of $423.56. The company has a current ratio of 0.94, a quick ratio of 0.65 and a debt-to-equity ratio of 1.14. The stock’s 50 day simple moving average is $391.26 and its 200 day simple moving average is $370.72.

Waters (NYSE:WAT) last released its quarterly earnings data on Wednesday, February 12th. The medical instruments supplier reported $4.10 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts forecast that Waters Co. will post 12.86 earnings per share for the current fiscal year.

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.