CIBC Asset Management Inc Grows Position in Waters Co. (NYSE:WAT)

CIBC Asset Management Inc raised its stake in shares of Waters Co. (NYSE:WAT) by 8.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,780 shares of the medical instruments supplier’s stock after acquiring an additional 662 shares during the period. CIBC Asset Management Inc’s holdings in Waters were worth $3,160,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC lifted its position in shares of Waters by 3.8% during 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. Linscomb Wealth Inc. grew its position in shares of Waters by 0.4% during the 2nd quarter. Linscomb Wealth Inc. now owns 7,841 shares of the medical instruments supplier’s stock valued at $2,275,000 after acquiring an additional 34 shares during the period. Johnson Investment Counsel Inc. increased its stake in shares of Waters by 3.2% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,084 shares of the medical instruments supplier’s stock worth $314,000 after purchasing an additional 34 shares during the last quarter. Summit Trail Advisors LLC raised its holdings in shares of Waters by 3.0% in the 2nd quarter. Summit Trail Advisors LLC now owns 1,170 shares of the medical instruments supplier’s stock worth $339,000 after purchasing an additional 34 shares during the period. Finally, Retirement Systems of Alabama lifted its stake in Waters by 0.3% in the second quarter. Retirement Systems of Alabama now owns 13,087 shares of the medical instruments supplier’s stock valued at $3,797,000 after purchasing an additional 37 shares during the last quarter. 94.01% of the stock is owned by hedge funds and other institutional investors.

Waters Stock Down 0.8 %

Shares of NYSE WAT opened at $355.47 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.14. The business has a 50-day moving average of $351.21 and a 200-day moving average of $330.97. The firm has a market capitalization of $21.11 billion, a price-to-earnings ratio of 33.92, a PEG ratio of 6.56 and a beta of 0.97. Waters Co. has a 12 month low of $258.89 and a 12 month high of $393.38.

Waters (NYSE:WAT) last released its quarterly earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.25. The business had revenue of $740.30 million during the quarter, compared to analysts’ expectations of $712.99 million. Waters had a net margin of 21.43% and a return on equity of 49.93%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.84 EPS. Sell-side analysts expect that Waters Co. will post 11.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on WAT shares. Wells Fargo & Company lifted their price objective on Waters from $380.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Waters from $310.00 to $325.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. The Goldman Sachs Group upgraded shares of Waters to a “hold” rating in a research note on Wednesday, July 31st. TD Cowen lifted their price objective on shares of Waters from $363.00 to $410.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Finally, Leerink Partners upgraded Waters from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $325.00 to $375.00 in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $365.85.

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.