First Trust Direct Indexing L.P. Boosts Stock Holdings in Waters Co. (NYSE:WAT)

First Trust Direct Indexing L.P. grew its position in shares of Waters Co. (NYSE:WAT) by 25.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,951 shares of the medical instruments supplier’s stock after purchasing an additional 993 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Waters were worth $1,782,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in Waters in the 2nd quarter worth $33,000. Blue Trust Inc. increased its holdings in Waters by 190.2% in the 2nd quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock worth $35,000 after acquiring an additional 78 shares in the last quarter. TFC Financial Management Inc. increased its holdings in Waters by 19,900.0% in the 2nd 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 in the last quarter. Federated Hermes Inc. purchased a new stake in Waters in the 2nd quarter worth $59,000. Finally, Fidelis Capital Partners LLC purchased a new stake in Waters in the 1st quarter worth $72,000. 94.01% of the stock is owned by hedge funds and other institutional investors.

Waters Trading Down 1.2 %

Shares of WAT stock opened at $322.57 on Friday. The company’s 50-day moving average price is $341.42 and its 200-day moving average price is $324.75. The company has a current ratio of 2.10, a quick ratio of 1.42 and a debt-to-equity ratio of 1.42. The stock has a market cap of $19.15 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 6.42 and a beta of 0.95. Waters Co. has a twelve month low of $234.04 and a twelve month high of $367.21.

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

Wall Street Analysts Forecast Growth

WAT has been the subject of several recent analyst reports. Barclays boosted their price target on shares of Waters from $300.00 to $330.00 and gave the stock an “underweight” rating in a report on Tuesday, October 15th. Wells Fargo & Company assumed coverage on shares of Waters in a research note on Tuesday, August 27th. They set an “overweight” rating and a $380.00 target price on the stock. TD Cowen lifted their target price on shares of Waters from $325.00 to $363.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Evercore ISI lifted their target price on shares of Waters from $335.00 to $355.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 1st. Finally, Leerink Partnrs raised shares of Waters from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $342.58.

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.