Skandinaviska Enskilda Banken AB publ Cuts Stake in Waters Corporation (NYSE:WAT)

Skandinaviska Enskilda Banken AB publ cut its holdings in shares of Waters Corporation (NYSE:WAT) by 30.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,680 shares of the medical instruments supplier’s stock after selling 7,700 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Waters were worth $6,516,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Lederer & Associates Investment Counsel CA boosted its holdings in Waters by 1.0% in the first quarter. Lederer & Associates Investment Counsel CA now owns 3,155 shares of the medical instruments supplier’s stock valued at $1,163,000 after purchasing an additional 30 shares during the period. Benjamin Edwards Inc. raised its position in Waters by 4.8% in the 4th quarter. Benjamin Edwards Inc. now owns 744 shares of the medical instruments supplier’s stock valued at $276,000 after purchasing an additional 34 shares in the last quarter. Claret Asset Management Corp boosted its stake in shares of Waters by 3.6% in the 4th quarter. Claret Asset Management Corp now owns 1,103 shares of the medical instruments supplier’s stock valued at $409,000 after buying an additional 38 shares during the period. Lido Advisors LLC boosted its stake in shares of Waters by 2.2% in the 4th quarter. Lido Advisors LLC now owns 1,734 shares of the medical instruments supplier’s stock valued at $643,000 after buying an additional 38 shares during the period. Finally, MainStreet Investment Advisors LLC grew its position in shares of Waters by 1.2% during the fourth quarter. MainStreet Investment Advisors LLC now owns 3,381 shares of the medical instruments supplier’s stock worth $1,254,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Waters Trading Up 1.4%

WAT opened at $302.62 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.81 and a debt-to-equity ratio of 0.69. Waters Corporation has a 52 week low of $279.61 and a 52 week high of $423.56. The business’s 50 day moving average is $338.12 and its two-hundred day moving average is $357.95. The firm has a market cap of $18.01 billion, a price-to-earnings ratio of 27.46, a price-to-earnings-growth ratio of 2.99 and a beta of 1.10.

Waters (NYSE:WAT) last announced its earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. Waters had a net margin of 22.02% and a return on equity of 41.70%. The business had revenue of $661.71 million for the quarter, compared to analysts’ expectations of $655.50 million. During the same period in the previous year, the company posted $2.21 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts predict that Waters Corporation will post 12.86 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on WAT. UBS Group reaffirmed a “neutral” rating on shares of Waters in a report on Tuesday, July 15th. KeyCorp upgraded shares of Waters from a “sector weight” rating to an “overweight” rating and set a $460.00 price objective on the stock in a report on Monday, March 31st. Barclays lowered their target price on shares of Waters from $400.00 to $350.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company cut Waters from a “strong-buy” rating to a “hold” rating and cut their price target for the company from $420.00 to $330.00 in a research note on Tuesday, July 15th. Finally, Sanford C. Bernstein set a $400.00 price target on Waters and gave the stock an “outperform” rating in a report on Wednesday, April 16th. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $381.94.

Waters Company Profile

Waters Corporation 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.