Millstone Evans Group LLC Takes $1.23 Million Position in Waters Co. (NYSE:WAT)

Millstone Evans Group LLC bought a new stake in Waters Co. (NYSE:WAT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,307 shares of the medical instruments supplier’s stock, valued at approximately $1,227,000. Waters comprises approximately 0.8% of Millstone Evans Group LLC’s portfolio, making the stock its 24th largest holding.

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

Analysts Set New Price Targets

WAT has been the subject of several research analyst reports. Barclays upgraded shares of Waters from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $360.00 to $415.00 in a research report on Monday, February 10th. UBS Group lifted their target price on shares of Waters from $405.00 to $410.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. StockNews.com lowered shares of Waters from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Wells Fargo & Company lifted their target price on shares of Waters from $415.00 to $420.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Waters from $380.00 to $390.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Eleven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $391.07.

Waters Price Performance

Shares of WAT stock opened at $365.75 on Friday. The firm has a market capitalization of $21.73 billion, a price-to-earnings ratio of 34.15, a price-to-earnings-growth ratio of 3.79 and a beta of 1.00. The company has a quick ratio of 0.65, a current ratio of 0.94 and a debt-to-equity ratio of 1.14. Waters Co. has a 12-month low of $279.24 and a 12-month high of $423.56. The firm has a fifty day moving average of $390.80 and a 200-day moving average of $371.06.

Waters (NYSE:WAT) last announced its earnings results on Wednesday, February 12th. The medical instruments supplier reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. Waters had a net margin of 21.56% and a return on equity of 46.31%. On average, equities research analysts forecast that Waters Co. will post 12.86 earnings per share for the current year.

About Waters

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.