Sterling Capital Management LLC Has $1.18 Million Stock Position in Waters Co. (NYSE:WAT)

Sterling Capital Management LLC increased its holdings in shares of Waters Co. (NYSE:WAT) by 12.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,471 shares of the medical instruments supplier’s stock after purchasing an additional 594 shares during the period. Sterling Capital Management LLC’s holdings in Waters were worth $1,178,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in shares of Waters by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 1,025,341 shares of the medical instruments supplier’s stock valued at $193,104,000 after buying an additional 50,700 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Waters in the first quarter valued at about $251,000. Victory Capital Management Inc. increased its stake in shares of Waters by 1,148.5% in the first quarter. Victory Capital Management Inc. now owns 14,183 shares of the medical instruments supplier’s stock valued at $3,570,000 after buying an additional 13,047 shares during the period. ETF Managers Group LLC increased its stake in shares of Waters by 10.6% in the first quarter. ETF Managers Group LLC now owns 721 shares of the medical instruments supplier’s stock valued at $181,000 after buying an additional 69 shares during the period. Finally, Keybank National Association OH increased its stake in shares of Waters by 118.1% in the first quarter. Keybank National Association OH now owns 6,198 shares of the medical instruments supplier’s stock valued at $1,560,000 after buying an additional 3,356 shares during the period. Institutional investors and hedge funds own 94.96% of the company’s stock.

WAT has been the subject of several recent research reports. ValuEngine cut Waters from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Cleveland Research cut Waters from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 12th. Wolfe Research began coverage on Waters in a research note on Thursday, May 30th. They issued an “underperform” rating for the company. Finally, Bank of America cut Waters from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 16th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $210.54.

NYSE WAT traded up $1.09 during trading hours on Friday, hitting $229.79. 209,876 shares of the company’s stock were exchanged, compared to its average volume of 472,837. The stock has a 50-day simple moving average of $213.26 and a 200 day simple moving average of $221.03. Waters Co. has a 1-year low of $167.93 and a 1-year high of $255.21. The firm has a market cap of $15.27 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 2.56 and a beta of 1.08. The company has a current ratio of 2.65, a quick ratio of 2.07 and a debt-to-equity ratio of 2.00.

Waters (NYSE:WAT) last released its earnings results on Tuesday, July 30th. The medical instruments supplier reported $2.14 EPS for the quarter, topping the consensus estimate of $2.11 by $0.03. Waters had a return on equity of 50.64% and a net margin of 24.09%. The business had revenue of $599.20 million during the quarter, compared to analysts’ expectations of $601.46 million. During the same quarter last year, the firm posted $1.95 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. On average, sell-side analysts anticipate that Waters Co. will post 9.01 earnings per share for the current fiscal year.

About Waters

Waters Corporation, a specialty measurement company, 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.

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Institutional Ownership by Quarter for Waters (NYSE:WAT)

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