Chemical Bank Trims Position in Waters Co. (WAT)

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Chemical Bank trimmed its holdings in shares of Waters Co. (NYSE:WAT) by 13.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,175 shares of the medical instruments supplier’s stock after selling 183 shares during the period. Chemical Bank’s holdings in Waters were worth $222,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of WAT. Bank of New York Mellon Corp lifted its position in shares of Waters by 4.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,542,036 shares of the medical instruments supplier’s stock valued at $884,244,000 after acquiring an additional 183,060 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Waters by 0.3% in the 3rd quarter. Baillie Gifford & Co. now owns 2,564,749 shares of the medical instruments supplier’s stock valued at $499,305,000 after acquiring an additional 8,810 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Waters by 1.5% in the 3rd quarter. Janus Henderson Group PLC now owns 2,087,397 shares of the medical instruments supplier’s stock valued at $406,376,000 after acquiring an additional 29,978 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Waters by 1.6% in the 3rd quarter. Franklin Resources Inc. now owns 983,235 shares of the medical instruments supplier’s stock valued at $191,416,000 after acquiring an additional 15,564 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Waters by 188.1% in the 3rd quarter. Morgan Stanley now owns 527,562 shares of the medical instruments supplier’s stock valued at $102,707,000 after acquiring an additional 344,432 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Several equities research analysts recently commented on WAT shares. Bank of America upgraded shares of Waters from an “underperform” rating to a “neutral” rating in a research report on Thursday, January 3rd. JPMorgan Chase & Co. reduced their price target on shares of Waters from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 24th. Barclays cut their target price on shares of Waters from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 24th. UBS Group cut their target price on shares of Waters from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Wednesday, October 24th. Finally, Needham & Company LLC assumed coverage on shares of Waters in a research report on Wednesday, January 2nd. They issued a “hold” rating and a $177.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. Waters presently has a consensus rating of “Hold” and an average target price of $208.99.

Waters stock opened at $234.00 on Thursday. The firm has a market cap of $17.78 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 2.32 and a beta of 1.17. 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 Co. has a 1-year low of $167.93 and a 1-year high of $235.85.

Waters (NYSE:WAT) last released its quarterly earnings results on Wednesday, January 23rd. The medical instruments supplier reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 24.54% and a return on equity of 34.18%. Waters’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.51 EPS. On average, research analysts expect that Waters Co. will post 9.35 EPS for the current year.

In other news, SVP Mark T. Beaudouin sold 27,848 shares of the firm’s stock in a transaction on Friday, January 25th. The shares were sold at an average price of $225.36, for a total transaction of $6,275,825.28. Following the transaction, the senior vice president now owns 2,796 shares in the company, valued at approximately $630,106.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael C. Harrington sold 22,400 shares of the firm’s stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $234.93, for a total transaction of $5,262,432.00. Following the transaction, the senior vice president now owns 22,400 shares in the company, valued at approximately $5,262,432. The disclosure for this sale can be found here. Insiders have sold a total of 122,961 shares of company stock worth $27,285,652 in the last 90 days. 0.98% of the stock is owned by insiders.

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Waters Profile

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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Institutional Ownership by Quarter for Waters (NYSE:WAT)

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