Investment Management Corp of Ontario Has $24.08 Million Holdings in Waters Co. (NYSE:WAT)

Investment Management Corp of Ontario lifted its position in shares of Waters Co. (NYSE:WAT) by 1.1% in the third quarter, HoldingsChannel reports. The fund owned 66,915 shares of the medical instruments supplier’s stock after buying an additional 700 shares during the period. Investment Management Corp of Ontario’s holdings in Waters were worth $24,082,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kennebec Savings Bank bought a new stake in Waters during the 3rd quarter worth $33,000. Ashton Thomas Securities LLC purchased a new stake in shares of Waters in the third quarter worth $35,000. Itau Unibanco Holding S.A. bought a new position in shares of Waters during the second quarter valued at about $33,000. Blue Trust Inc. grew its stake in shares of Waters by 190.2% in the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock worth $35,000 after purchasing an additional 78 shares during the last quarter. Finally, TFC Financial Management Inc. lifted its holdings in shares of Waters by 19,900.0% during the second quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier’s stock valued at $58,000 after purchasing an additional 199 shares during the last quarter. 94.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. TD Cowen boosted their price target on shares of Waters from $363.00 to $410.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Waters from $310.00 to $325.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Stifel Nicolaus increased their price objective on shares of Waters from $332.00 to $360.00 and gave the company a “hold” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. raised their target price on shares of Waters from $340.00 to $380.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Cfra set a $389.00 target price on shares of Waters in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Waters presently has an average rating of “Hold” and an average price target of $365.85.

Waters Price Performance

NYSE WAT opened at $386.81 on Tuesday. The company has a market cap of $22.97 billion, a PE ratio of 36.91, a PEG ratio of 7.04 and a beta of 1.01. The stock’s 50-day moving average price is $359.20 and its two-hundred day moving average price is $333.22. Waters Co. has a 1 year low of $279.24 and a 1 year high of $395.44. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.14.

Waters (NYSE:WAT) last released its quarterly earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.25. Waters had a return on equity of 49.93% and a net margin of 21.43%. The company had revenue of $740.30 million for the quarter, compared to analyst estimates of $712.99 million. During the same quarter last year, the firm posted $2.84 earnings per share. Waters’s revenue was up 4.0% compared to the same quarter last year. On average, analysts predict that Waters Co. will post 11.79 EPS for the current year.

Waters 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.