DNB Asset Management AS cut its stake in Waters Co. (NYSE:WAT) by 10.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,909 shares of the medical instruments supplier’s stock after selling 1,400 shares during the period. DNB Asset Management AS’s holdings in Waters were worth $2,247,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of WAT. Captrust Financial Advisors bought a new position in Waters in the 3rd quarter valued at $107,000. Checchi Capital Advisers LLC bought a new position in Waters in the 3rd quarter valued at $201,000. First Hawaiian Bank bought a new position in Waters in the 3rd quarter valued at $208,000. Mission Wealth Management LP bought a new position in Waters in the 3rd quarter valued at $208,000. Finally, CLARET ASSET MANAGEMENT Corp bought a new position in Waters in the 3rd quarter valued at $209,000. 96.14% of the stock is owned by institutional investors and hedge funds.
WAT has been the topic of a number of recent research reports. Goldman Sachs Group lowered Waters from a “neutral” rating to a “sell” rating and set a $200.83 price objective on the stock. in a research report on Sunday, December 9th. Barclays decreased their price objective on Waters from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 24th. Zacks Investment Research downgraded Waters from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. BTIG Research increased their price target on Waters to $260.00 and gave the company a “buy” rating in a research note on Thursday, January 24th. Finally, JPMorgan Chase & Co. cut their price target on Waters from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $208.99.
Waters stock traded up $1.35 during mid-day trading on Monday, hitting $232.35. 419,275 shares of the company’s stock were exchanged, compared to its average volume of 719,214. The company has a market capitalization of $17.50 billion, a PE ratio of 28.03, a PEG ratio of 2.28 and a beta of 1.17. Waters Co. has a fifty-two week low of $167.93 and a fifty-two week high of $233.48. The company has a current ratio of 2.26, a quick ratio of 2.01 and a debt-to-equity ratio of 0.61.
Waters (NYSE:WAT) last issued its quarterly earnings data on Wednesday, January 23rd. The medical instruments supplier reported $2.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.64 by $0.23. The business had revenue of $715.00 million for the quarter, compared to the consensus estimate of $702.74 million. Waters had a return on equity of 34.18% and a net margin of 24.54%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.51 EPS. Analysts predict that Waters Co. will post 9.35 EPS for the current fiscal year.
In other Waters news, Director Michael J. Berendt sold 3,500 shares of Waters stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $184.74, for a total value of $646,590.00. Following the sale, the director now owns 27,411 shares of the company’s stock, valued at approximately $5,063,908.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael C. Harrington sold 1,131 shares of Waters stock in a transaction dated Friday, December 14th. The shares were sold at an average price of $189.53, for a total value of $214,358.43. The disclosure for this sale can be found here. Insiders have sold a total of 97,249 shares of company stock worth $20,981,857 in the last ninety days. 0.98% of the stock is currently owned by company insiders.
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Waters Corporation, a specialty measurement company, provides analytical workflow solutions in the United States, Europe, Asia, and internationally. It designs, manufactures, sells, and services high and ultra performance liquid chromatography technology, 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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