Primecap Management Co. CA Trims Stock Holdings in Waters Co. (NYSE:WAT)

Primecap Management Co. CA trimmed its holdings in Waters Co. (NYSE:WAT) by 29.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,041 shares of the medical instruments supplier’s stock after selling 29,418 shares during the period. Primecap Management Co. CA owned approximately 0.12% of Waters worth $25,613,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Bank of Jackson Hole Trust purchased a new position in Waters in the 4th quarter valued at approximately $34,000. Fortitude Family Office LLC grew its position in shares of Waters by 235.7% during the 4th quarter. Fortitude Family Office LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 66 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Waters by 129.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 53 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Waters by 54.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 125 shares of the medical instruments supplier’s stock valued at $46,000 after purchasing an additional 44 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of Waters during the 4th quarter valued at $63,000. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Waters from $380.00 to $390.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. StockNews.com downgraded shares of Waters from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Wells Fargo & Company lifted their price objective on shares of Waters from $415.00 to $420.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Sanford C. Bernstein raised shares of Waters from a “market perform” rating to an “outperform” rating and set a $430.00 price objective for the company in a report on Friday, January 10th. Finally, UBS Group lifted their price objective on shares of Waters from $405.00 to $410.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Eleven research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $391.07.

Waters Stock Performance

Waters stock opened at $371.61 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.94 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $22.08 billion, a PE ratio of 34.70, a P/E/G ratio of 3.79 and a beta of 1.00. The firm has a fifty day simple moving average of $391.31 and a two-hundred day simple moving average of $370.98. Waters Co. has a twelve month low of $279.24 and a twelve month high of $423.56.

Waters (NYSE:WAT) last issued its quarterly earnings data on Wednesday, February 12th. The medical instruments supplier reported $4.10 EPS for the quarter, beating the consensus estimate of $4.02 by $0.08. Waters had a net margin of 21.56% and a return on equity of 46.31%. Research analysts expect that Waters Co. will post 12.86 EPS for the current 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.