Waters Co. (NYSE:WAT) Short Interest Up 8.4% in July

Waters Co. (NYSE:WAT) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 4,186,200 shares, a growth of 8.4% from the June 30th total of 3,862,000 shares. Based on an average trading volume of 595,600 shares, the days-to-cover ratio is presently 7.0 days. Currently, 6.2% of the shares of the company are short sold.

Several institutional investors and hedge funds have recently added to or reduced their stakes in WAT. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Waters by 1.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,181 shares of the medical instruments supplier’s stock worth $1,052,000 after purchasing an additional 49 shares in the last quarter. Cadence Capital Management LLC lifted its stake in Waters by 1.0% in the 2nd quarter. Cadence Capital Management LLC now owns 5,622 shares of the medical instruments supplier’s stock worth $1,210,000 after purchasing an additional 53 shares in the last quarter. Piedmont Investment Advisors Inc. lifted its stake in Waters by 0.9% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 6,227 shares of the medical instruments supplier’s stock worth $1,567,000 after purchasing an additional 58 shares in the last quarter. GHP Investment Advisors Inc. lifted its stake in Waters by 0.8% in the 2nd quarter. GHP Investment Advisors Inc. now owns 8,272 shares of the medical instruments supplier’s stock worth $1,780,000 after purchasing an additional 65 shares in the last quarter. Finally, Whittier Trust Co. lifted its stake in Waters by 23.0% in the 1st quarter. Whittier Trust Co. now owns 369 shares of the medical instruments supplier’s stock worth $93,000 after purchasing an additional 69 shares in the last quarter. Institutional investors own 96.08% of the company’s stock.

Several research analysts have recently weighed in on the stock. Robert W. Baird dropped their price target on shares of Waters from $211.00 to $209.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Bank of America cut shares of Waters from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 16th. UBS Group dropped their price target on shares of Waters from $248.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Zacks Investment Research upgraded shares of Waters from a “sell” rating to a “hold” rating and set a $217.00 price target on the stock in a research note on Wednesday, May 22nd. Finally, ValuEngine cut shares of Waters from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $210.54.

WAT opened at $202.26 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.07 and a current ratio of 2.65. Waters has a fifty-two week low of $167.93 and a fifty-two week high of $255.21. The firm’s fifty day moving average is $214.38 and its 200 day moving average is $224.06. The stock has a market cap of $13.35 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 2.30 and a beta of 1.07.

Waters (NYSE:WAT) last released its earnings results on Tuesday, July 30th. The medical instruments supplier reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.03. Waters had a net margin of 24.09% and a return on equity of 50.64%. The company had revenue of $599.20 million for the quarter, compared to analysts’ expectations of $601.46 million. During the same quarter in the previous year, the company earned $1.95 EPS. Waters’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities research analysts predict that Waters will post 9.01 earnings per share for the current year.

About Waters

Waters Corporation, a specialty measurement company, 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.

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