Royal London Asset Management Ltd. Acquires New Holdings in Waters Co. (WAT)

Royal London Asset Management Ltd. acquired a new stake in Waters Co. (NYSE:WAT) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 31,457 shares of the medical instruments supplier’s stock, valued at approximately $6,091,000.

Several other hedge funds have also recently bought and sold shares of the company. Fundsmith Equity Fund L.P. purchased a new stake in shares of Waters during the second quarter worth approximately $915,485,000. Bank of New York Mellon Corp raised its stake in shares of Waters by 156.1% during the second quarter. Bank of New York Mellon Corp now owns 4,358,976 shares of the medical instruments supplier’s stock worth $843,852,000 after purchasing an additional 2,657,055 shares during the last quarter. Jensen Investment Management Inc. raised its stake in shares of Waters by 5.3% during the second quarter. Jensen Investment Management Inc. now owns 1,057,151 shares of the medical instruments supplier’s stock worth $204,654,000 after purchasing an additional 52,840 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Waters by 1.1% during the second quarter. Bessemer Group Inc. now owns 656,302 shares of the medical instruments supplier’s stock worth $127,054,000 after purchasing an additional 6,880 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its stake in shares of Waters by 10.3% during the first quarter. Champlain Investment Partners LLC now owns 591,420 shares of the medical instruments supplier’s stock worth $117,486,000 after purchasing an additional 55,395 shares during the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

WAT has been the subject of several analyst reports. Zacks Investment Research upgraded Waters from a “hold” rating to a “buy” rating and set a $217.00 price target for the company in a research note on Saturday, July 7th. Morgan Stanley cut their price target on Waters from $205.00 to $204.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 25th. Janney Montgomery Scott cut Waters from a “buy” rating to a “neutral” rating and cut their price target for the stock from $230.00 to $211.00 in a research note on Tuesday, July 17th. Finally, Robert W. Baird upped their price target on Waters from $201.00 to $212.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 25th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. Waters presently has an average rating of “Hold” and an average price target of $208.14.

NYSE:WAT opened at $195.23 on Thursday. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 2.41 and a beta of 0.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 6.58 and a quick ratio of 5.95. Waters Co. has a 1 year low of $177.58 and a 1 year high of $220.20.

Waters (NYSE:WAT) last released its quarterly earnings data on Tuesday, July 24th. The medical instruments supplier reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.03. The firm had revenue of $596.20 million during the quarter, compared to analysts’ expectations of $598.73 million. Waters had a return on equity of 27.85% and a net margin of 2.12%. Waters’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.76 earnings per share. sell-side analysts anticipate that Waters Co. will post 8.11 EPS for the current year.

In other Waters news, SVP Elizabeth B. Rae sold 4,000 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $190.62, for a total value of $762,480.00. Following the completion of the transaction, the senior vice president now owns 9,443 shares in the company, valued at $1,800,024.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.98% of the company’s stock.

About Waters

Waters Corporation, a specialty measurement company, provides analytical workflow solutions in the United States, Europe, Asia, and internationally. It designs, manufactures, sells, and services high and ultra performance liquid chromatography technology, 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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