Norges Bank Makes New $206.29 Million Investment in Waters Co. (NYSE:WAT)

Norges Bank purchased a new position in Waters Co. (NYSE:WAT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 626,571 shares of the medical instruments supplier’s stock, valued at approximately $206,286,000. Norges Bank owned approximately 1.06% of Waters at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. ING Groep NV increased its stake in shares of Waters by 3,375.0% in the 4th quarter. ING Groep NV now owns 695 shares of the medical instruments supplier’s stock worth $229,000 after acquiring an additional 675 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Waters by 1,095.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 200,705 shares of the medical instruments supplier’s stock valued at $66,078,000 after purchasing an additional 183,916 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in Waters during the 4th quarter valued at about $2,637,000. Guardian Capital Advisors LP bought a new stake in Waters during the 4th quarter valued at about $1,774,000. Finally, Guardian Capital LP bought a new stake in Waters during the 4th quarter valued at about $2,875,000. 94.01% of the stock is currently owned by institutional investors.

Waters Stock Performance

Shares of NYSE WAT opened at $348.80 on Thursday. The firm has a 50 day moving average of $333.55 and a 200 day moving average of $318.33. The company has a current ratio of 1.94, a quick ratio of 1.30 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $20.69 billion, a price-to-earnings ratio of 34.23, a price-to-earnings-growth ratio of 5.60 and a beta of 0.98. Waters Co. has a 12-month low of $231.90 and a 12-month high of $367.21.

Waters (NYSE:WAT) last announced its earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.11. The company had revenue of $636.80 million during the quarter, compared to analyst estimates of $635.57 million. Waters had a net margin of 20.75% and a return on equity of 66.59%. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.49 earnings per share. On average, research analysts anticipate that Waters Co. will post 11.86 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on WAT. TD Cowen raised their price objective on shares of Waters from $350.00 to $358.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Robert W. Baird reduced their price objective on shares of Waters from $319.00 to $312.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Barclays reduced their price objective on shares of Waters from $300.00 to $295.00 and set an “underweight” rating for the company in a research note on Wednesday, May 8th. Stifel Nicolaus raised their price objective on shares of Waters from $330.00 to $332.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Finally, Evercore ISI raised their price target on shares of Waters from $320.00 to $340.00 and gave the company an “in-line” rating in a report 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.com, the company has a consensus rating of “Hold” and a consensus price target of $305.78.

Insiders Place Their Bets

In other news, Director Christopher A. Kuebler sold 4,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total value of $1,446,560.00. Following the transaction, the director now owns 14,716 shares of the company’s stock, valued at $5,321,894.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Linda Baddour sold 500 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $355.54, for a total transaction of $177,770.00. Following the sale, the director now owns 2,250 shares of the company’s stock, valued at $799,965. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christopher A. Kuebler sold 4,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total transaction of $1,446,560.00. Following the completion of the sale, the director now directly owns 14,716 shares in the company, valued at approximately $5,321,894.24. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

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.