Pinnacle Wealth Management Advisory Group LLC Purchases 123 Shares of Waters Co. (NYSE:WAT)

Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Waters Co. (NYSE:WAT) by 7.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,734 shares of the medical instruments supplier’s stock after buying an additional 123 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Waters were worth $571,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Waters by 9.7% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 55,889 shares of the medical instruments supplier’s stock valued at $15,325,000 after purchasing an additional 4,936 shares during the last quarter. Raymond James & Associates increased its position in Waters by 295.9% during the 4th quarter. Raymond James & Associates now owns 127,879 shares of the medical instruments supplier’s stock valued at $42,102,000 after purchasing an additional 95,577 shares during the period. Motley Fool Wealth Management LLC raised its holdings in Waters by 39.6% in the 4th quarter. Motley Fool Wealth Management LLC now owns 41,657 shares of the medical instruments supplier’s stock worth $13,728,000 after purchasing an additional 11,823 shares in the last quarter. Fenimore Asset Management Inc. lifted its position in shares of Waters by 22.4% in the 4th quarter. Fenimore Asset Management Inc. now owns 227,250 shares of the medical instruments supplier’s stock worth $74,818,000 after purchasing an additional 41,638 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Waters by 129.9% during the fourth quarter. Nordea Investment Management AB now owns 973,537 shares of the medical instruments supplier’s stock valued at $322,017,000 after buying an additional 550,112 shares during the period. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Analyst Upgrades and Downgrades

WAT has been the topic of several research reports. TD Cowen lifted their price objective on Waters from $350.00 to $358.00 and gave the company a “hold” rating in a research report on Wednesday. Barclays decreased their price objective on Waters from $300.00 to $295.00 and set an “underweight” rating for the company in a report on Wednesday. Robert W. Baird dropped their target price on shares of Waters from $319.00 to $312.00 and set a “neutral” rating on the stock in a report on Wednesday. Stifel Nicolaus increased their price target on shares of Waters from $330.00 to $332.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Evercore ISI raised their target price on shares of Waters from $320.00 to $340.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating and ten have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $306.70.

Waters Stock Down 0.7 %

Shares of WAT traded down $2.26 on Wednesday, hitting $323.80. 398,469 shares of the stock traded hands, compared to its average volume of 420,346. The company has a market capitalization of $19.20 billion, a PE ratio of 29.84, a P/E/G ratio of 6.39 and a beta of 0.98. Waters Co. has a one year low of $231.90 and a one year high of $363.80. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.57 and a current ratio of 2.22. The business has a 50 day simple moving average of $332.95 and a 200 day simple moving average of $310.85.

Waters (NYSE:WAT) last posted its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.11. Waters had a return on equity of 81.30% and a net margin of 21.72%. The firm had revenue of $636.80 million during the quarter, compared to analysts’ expectations of $635.57 million. During the same quarter in the previous year, the business earned $2.49 earnings per share. The company’s revenue was down 7.0% on a year-over-year basis. As a group, equities analysts forecast that Waters Co. will post 11.89 earnings per share for the current fiscal year.

Insider Activity

In other Waters news, Director Linda Baddour sold 500 shares of Waters stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $355.54, for a total value of $177,770.00. Following the completion of the sale, the director now owns 2,250 shares of the company’s stock, valued at approximately $799,965. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.82% of the company’s stock.

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.