SFE Investment Counsel Decreases Holdings in Waters Co. (WAT)

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SFE Investment Counsel lessened its stake in shares of Waters Co. (NYSE:WAT) by 13.9% during the first quarter, Holdings Channel reports. The institutional investor owned 3,531 shares of the medical instruments supplier’s stock after selling 570 shares during the period. SFE Investment Counsel’s holdings in Waters were worth $889,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Waters by 1.2% during the first 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 buying an additional 49 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Waters by 23.0% during the first quarter. Whittier Trust Co. now owns 369 shares of the medical instruments supplier’s stock worth $93,000 after buying an additional 69 shares during the last quarter. ETF Managers Group LLC grew its stake in shares of Waters by 10.6% in the first quarter. ETF Managers Group LLC now owns 721 shares of the medical instruments supplier’s stock worth $181,000 after purchasing an additional 69 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Waters by 4.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 1,792 shares of the medical instruments supplier’s stock worth $338,000 after purchasing an additional 72 shares during the last quarter. Finally, 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 worth $56,000 after purchasing an additional 75 shares during the last quarter. 97.57% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently weighed in on WAT. Zacks Investment Research raised shares of Waters from a “sell” rating to a “hold” rating in a research note on Saturday, May 11th. UBS Group reduced their price objective 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. Robert W. Baird reduced their price objective 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. Barclays reduced their price objective on shares of Waters from $218.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 24th. Finally, ValuEngine cut shares of Waters from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $212.26.

WAT stock traded down $0.40 during midday trading on Monday, hitting $207.80. The stock had a trading volume of 4,848 shares, compared to its average volume of 765,673. The firm has a market cap of $14.46 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 2.20 and a beta of 1.08. The company has a quick ratio of 2.89, a current ratio of 3.44 and a debt-to-equity ratio of 1.15. Waters Co. has a 1-year low of $167.93 and a 1-year high of $255.21.

Waters (NYSE:WAT) last released its earnings results on Tuesday, April 23rd. The medical instruments supplier reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Waters’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.59 EPS. Research analysts expect that Waters Co. will post 9.11 earnings per share for the current year.

In related news, Director Michael J. Berendt sold 3,000 shares of the business’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $239.64, for a total value of $718,920.00. Following the transaction, the director now owns 21,510 shares in the company, valued at $5,154,656.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Robert G. Carson sold 2,724 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $241.23, for a total transaction of $657,110.52. Following the completion of the transaction, the senior vice president now owns 3,898 shares in the company, valued at approximately $940,314.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,730 shares of company stock worth $1,856,849. 1.14% of the stock is owned by company insiders.

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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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Institutional Ownership by Quarter for Waters (NYSE:WAT)

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