Findlay Park Partners LLP Reduces Stake in Waters Corporation $WAT

Findlay Park Partners LLP lowered its stake in shares of Waters Corporation (NYSE:WAT) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 560,969 shares of the medical instruments supplier’s stock after selling 20,200 shares during the period. Waters accounts for 2.0% of Findlay Park Partners LLP’s investment portfolio, making the stock its 17th biggest holding. Findlay Park Partners LLP owned approximately 0.94% of Waters worth $195,801,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of WAT. Zions Bancorporation National Association UT bought a new stake in shares of Waters in the first quarter valued at $28,000. IFP Advisors Inc raised its stake in Waters by 118.9% in the 1st quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 44 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Waters during the first quarter valued at about $41,000. Creative Financial Designs Inc. ADV boosted its position in Waters by 533.3% during the second quarter. Creative Financial Designs Inc. ADV now owns 190 shares of the medical instruments supplier’s stock worth $66,000 after purchasing an additional 160 shares during the period. Finally, Steph & Co. purchased a new position in shares of Waters in the second quarter worth about $73,000. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WAT. Cowen reiterated a “hold” rating on shares of Waters in a research note on Wednesday, November 5th. Wells Fargo & Company lifted their price target on Waters from $315.00 to $385.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. TD Cowen boosted their price objective on Waters from $345.00 to $390.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. Redburn Partners set a $390.00 target price on Waters in a research note on Wednesday, October 8th. Finally, Rothschild & Co Redburn began coverage on Waters in a report on Wednesday, October 8th. They set a “buy” rating and a $390.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $381.57.

Waters Price Performance

Shares of Waters stock opened at $407.53 on Thursday. The stock has a market capitalization of $24.26 billion, a price-to-earnings ratio of 36.75, a price-to-earnings-growth ratio of 3.19 and a beta of 1.11. The company has a fifty day moving average of $346.20 and a 200-day moving average of $330.09. Waters Corporation has a 52-week low of $275.05 and a 52-week high of $423.56. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.22 and a current ratio of 1.75.

Waters (NYSE:WAT) last posted its quarterly earnings results on Thursday, May 19th. The medical instruments supplier reported $2.29 earnings per share (EPS) for the quarter. The business had revenue of $608.55 million during the quarter. Waters had a net margin of 21.71% and a return on equity of 38.60%. Equities research analysts expect that Waters Corporation will post 12.86 EPS 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.