Waters Co. (NYSE:WAT) Short Interest Update

Waters Co. (NYSE:WAT) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 3,568,900 shares, an increase of 8.8% from the May 15th total of 3,279,400 shares. Approximately 5.3% of the shares of the stock are short sold. Based on an average daily volume of 606,400 shares, the days-to-cover ratio is presently 5.9 days.

A number of equities research analysts have commented on the stock. Bank of America raised shares of First Horizon National from an “underperform” rating to a “neutral” rating and set a $16.00 price objective on the stock in a report on Tuesday, July 16th. Robert W. Baird decreased their price objective on shares of Waters from $211.00 to $209.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Zacks Investment Research lowered shares of Horiba from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd. Barclays cut their target price on shares of Waters from $218.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 24th. Finally, Cleveland Research downgraded shares of Waters from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 12th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Waters has an average rating of “Hold” and an average price target of $210.54.

Shares of NYSE:WAT traded down $1.09 during mid-day trading on Friday, reaching $213.72. The stock had a trading volume of 560,161 shares, compared to its average volume of 589,720. The company has a market cap of $14.85 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 2.37 and a beta of 1.07. The stock has a 50 day moving average of $211.58. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.89 and a current ratio of 3.44. Waters has a twelve month low of $167.93 and a twelve month high of $255.21.

Waters (NYSE:WAT) last announced its quarterly earnings results on Tuesday, April 23rd. The medical instruments supplier reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.13). The firm had revenue of $513.90 million during the quarter, compared to analyst estimates of $545.82 million. Waters had a net margin of 24.59% and a return on equity of 39.64%. The business’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.59 earnings per share. On average, equities research analysts expect that Waters will post 9.11 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Massey Quick Simon & CO. LLC bought a new position in shares of Waters in the first quarter valued at $43,000. Van ECK Associates Corp grew its stake in shares of Waters by 33.8% in the fourth quarter. Van ECK Associates Corp now owns 297 shares of the medical instruments supplier’s stock valued at $56,000 after buying an additional 75 shares in the last quarter. Financial Gravity Wealth Inc. bought a new position in shares of Waters in the first quarter valued at $63,000. Thor Advisors LLC bought a new position in shares of Waters in the first quarter valued at $64,000. Finally, Rehmann Capital Advisory Group grew its stake in shares of Waters by 53.7% in the fourth quarter. Rehmann Capital Advisory Group now owns 395 shares of the medical instruments supplier’s stock valued at $75,000 after buying an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 92.56% of the company’s stock.

Waters Company Profile

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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