Champlain Investment Partners LLC Cuts Stake in Waters Corporation $WAT
Champlain Investment Partners LLC reduced its stake in Waters Corporation by 5.8% in Q2. Other institutional investors adjusted their positions in Waters. Analysts issued ratings with an average 'Moderate Buy' and a price target of $381.57. Waters stock opened at $394.46, indicating growth potential.
Champlain Investment Partners LLC lessened its stake in shares of Waters Corporation (NYSE:WAT - Free Report) by 5.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 469,329 shares of the medical instruments supplier's stock after selling 28,864 shares during the period. Waters accounts for approximately 1.1% of Champlain Investment Partners LLC's investment portfolio, making the stock its 23rd biggest position. Champlain Investment Partners LLC owned approximately 0.79% of Waters worth $163,815,000 at the end of the most recent reporting period.
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Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Waters by 112.9% during the fourth quarter. Brighton Jones LLC now owns 1,269 shares of the medical instruments supplier's stock valued at $471,000 after acquiring an additional 673 shares during the last quarter. IFP Advisors Inc increased its position in shares of Waters by 118.9% during the first quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier's stock worth $30,000 after purchasing an additional 44 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Waters by 57.3% during the first quarter. Allianz Asset Management GmbH now owns 6,646 shares of the medical instruments supplier's stock worth $2,450,000 after purchasing an additional 2,421 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in Waters by 18.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,315 shares of the medical instruments supplier's stock valued at $485,000 after purchasing an additional 201 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Waters by 6.2% in the 1st quarter. Cetera Investment Advisers now owns 4,339 shares of the medical instruments supplier's stock valued at $1,599,000 after purchasing an additional 252 shares in the last quarter. 94.01% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on WAT shares. JPMorgan Chase & Co. upped their target price on shares of Waters from $300.00 to $325.00 and gave the stock a "neutral" rating in a report on Thursday, October 9th. Rothschild Redb upgraded shares of Waters to a "strong-buy" rating in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $315.00 price objective on shares of Waters and gave the company a "hold" rating in a report on Tuesday, August 5th. Weiss Ratings restated a "hold (c)" rating on shares of Waters in a report on Wednesday, October 8th. Finally, Cowen reaffirmed a "hold" rating on shares of Waters in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $381.57.
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Read Our Latest Stock Analysis on WAT
Waters Stock Performance
Waters stock opened at $394.46 on Monday. The firm has a 50 day simple moving average of $339.95 and a 200-day simple moving average of $328.72. The stock has a market cap of $23.48 billion, a price-to-earnings ratio of 35.57, a price-to-earnings-growth ratio of 3.19 and a beta of 1.11. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.75 and a quick ratio of 1.22. Waters Corporation has a 1-year low of $275.05 and a 1-year high of $423.56.
Waters (NYSE:WAT - Get Free Report) last released its quarterly earnings results on Thursday, May 19th. The medical instruments supplier reported $2.29 EPS for the quarter. Waters had a net margin of 21.71% and a return on equity of 38.60%. The firm had revenue of $608.55 million for the quarter. On average, analysts expect that Waters Corporation will post 12.86 EPS for the current year.
Waters Profile
(Free Report)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.
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