Magnetar Financial LLC Invests $2.94 Million in Waters Co. (NYSE:WAT)

Magnetar Financial LLC acquired a new position in shares of Waters Co. (NYSE:WAT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,148 shares of the medical instruments supplier’s stock, valued at approximately $2,944,000.

A number of other hedge funds also recently bought and sold shares of the company. Indiana Trust & Investment Management CO acquired a new position in shares of Waters during the first quarter valued at about $25,000. Riverview Trust Co acquired a new position in Waters during the 1st quarter worth $28,000. Itau Unibanco Holding S.A. acquired a new position in shares of Waters during the second quarter valued at $33,000. Blue Trust Inc. lifted its stake in shares of Waters by 190.2% in the 2nd quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 78 shares during the period. Finally, TFC Financial Management Inc. boosted its position in shares of 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 purchasing an additional 199 shares during the last quarter. 94.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on WAT. Wells Fargo & Company assumed coverage on Waters in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $380.00 target price on the stock. Barclays lifted their price target on Waters from $275.00 to $300.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Jefferies Financial Group began coverage on shares of Waters in a report on Monday, June 3rd. They issued a “hold” rating and a $320.00 price objective on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on Waters from $330.00 to $310.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Finally, Leerink Partners raised shares of Waters from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $325.00 to $375.00 in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $318.50.

Waters Stock Up 0.9 %

NYSE WAT opened at $339.71 on Tuesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.10 and a quick ratio of 1.42. Waters Co. has a fifty-two week low of $231.90 and a fifty-two week high of $367.21. The stock has a market capitalization of $20.15 billion, a PE ratio of 33.34, a PEG ratio of 5.70 and a beta of 0.95. The business has a fifty day moving average price of $330.44 and a two-hundred day moving average price of $324.07.

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