Deroy & Devereaux Private Investment Counsel Inc. Cuts Position in Waters Corporation $WAT

Deroy & Devereaux Private Investment Counsel Inc. lessened its position in shares of Waters Corporation (NYSE:WAT) by 2.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 9,725 shares of the medical instruments supplier’s stock after selling 210 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Waters were worth $3,394,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WAT. Olde Wealth Management LLC purchased a new position in Waters during the 1st quarter valued at approximately $25,000. Zions Bancorporation National Association UT purchased a new position in shares of Waters in the 1st quarter worth approximately $28,000. IFP Advisors Inc boosted its holdings in shares of Waters by 118.9% in the 1st quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 44 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Waters in the 1st quarter worth approximately $41,000. Finally, Steph & Co. purchased a new position in shares of Waters in the 2nd quarter worth approximately $73,000. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Waters Trading Down 0.9%

Shares of NYSE WAT opened at $333.45 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.75 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $302.03 and a two-hundred day simple moving average of $323.46. The firm has a market cap of $19.85 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 3.14 and a beta of 1.04. Waters Corporation has a twelve month low of $275.05 and a twelve month high of $423.56.

Waters (NYSE:WAT) last issued its earnings results on Thursday, May 19th. The medical instruments supplier reported $2.29 earnings per share for the quarter. The business had revenue of $608.55 million during the quarter. Waters had a return on equity of 38.60% and a net margin of 21.71%. Analysts expect that Waters Corporation will post 12.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

WAT has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Waters in a report on Wednesday, October 8th. Scotiabank reiterated a “sector outperform” rating and issued a $465.00 target price on shares of Waters in a report on Friday, July 11th. Bank of America lifted their target price on Waters from $370.00 to $375.00 and gave the stock a “neutral” rating in a report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft set a $315.00 price target on Waters and gave the stock a “hold” rating in a research note on Tuesday, August 5th. Finally, Redburn Partners set a $390.00 price target on Waters in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $377.56.

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.