SFE Investment Counsel Trims Stake in Waters Co. (NYSE:WAT)

SFE Investment Counsel cut its position in Waters Co. (NYSE:WAT) by 4.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,718 shares of the medical instruments supplier’s stock after selling 165 shares during the quarter. SFE Investment Counsel’s holdings in Waters were worth $1,285,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Loomis Sayles & Co. L P acquired a new position in Waters during the 1st quarter worth $30,000. Berman Capital Advisors LLC raised its stake in Waters by 82.3% during the 1st quarter. Berman Capital Advisors LLC now owns 144 shares of the medical instruments supplier’s stock valued at $40,000 after acquiring an additional 65 shares during the last quarter. CX Institutional raised its stake in shares of Waters by 66.2% during the 2nd quarter. CX Institutional now owns 118 shares of the medical instruments supplier’s stock worth $41,000 after buying an additional 47 shares in the last quarter. Deseret Mutual Benefit Administrators acquired a new stake in shares of Waters in the 2nd quarter worth approximately $43,000. Finally, Harvest Fund Management Co. Ltd grew its holdings in Waters by 25.1% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 274 shares of the medical instruments supplier’s stock valued at $77,000 after buying an additional 55 shares during the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Shares of WAT traded up $0.78 during mid-day trading on Wednesday, reaching $410.27. 5,495 shares of the company’s stock traded hands, compared to its average volume of 370,047. The business’s 50-day moving average price is $395.44 and its 200-day moving average price is $338.04. The stock has a market capitalization of $25.18 billion, a P/E ratio of 38.70, a price-to-earnings-growth ratio of 4.20 and a beta of 0.80. The company has a debt-to-equity ratio of 5.98, a quick ratio of 1.89 and a current ratio of 2.41. Waters Co. has a 12 month low of $187.31 and a 12 month high of $428.22.

Waters (NYSE:WAT) last announced its earnings results on Tuesday, August 3rd. The medical instruments supplier reported $2.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.31. The firm had revenue of $681.70 million for the quarter, compared to analysts’ expectations of $625.36 million. Waters had a return on equity of 387.10% and a net margin of 24.73%. The firm’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.10 earnings per share. Equities research analysts anticipate that Waters Co. will post 10.66 EPS for the current year.

A number of research analysts have weighed in on WAT shares. Robert W. Baird increased their price target on Waters from $297.00 to $360.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 4th. Citigroup increased their target price on Waters from $315.00 to $400.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 4th. Zacks Investment Research raised Waters from a “hold” rating to a “buy” rating and set a $418.00 target price on the stock in a research report on Saturday, August 7th. Evercore ISI raised Waters from an “in-line” rating to an “outperform” rating and set a $400.00 target price on the stock in a research report on Tuesday, July 6th. Finally, SVB Leerink increased their target price on Waters from $370.00 to $385.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $306.64.

In other news, Director Christopher A. Kuebler sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 18th. The shares were sold at an average price of $405.62, for a total transaction of $1,216,860.00. Following the transaction, the director now directly owns 13,763 shares in the company, valued at approximately $5,582,548.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas P. Salice sold 5,000 shares of Waters stock in a transaction on Thursday, August 5th. The shares were sold at an average price of $395.00, for a total transaction of $1,975,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,260 shares of company stock worth $5,300,907. 1.10% of the stock is currently owned by company insiders.

Waters Profile

Waters Corp. is a specialty measurement company which engages in analytical workflow solutions involving liquid chromatography, mass spectrometry and thermal analysis innovations. It operates through the Waters and TA segments. The Waters segment consists of liquid chromatography instruments, mass spectrometry, and precision chemistry consumable products and related services.

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Institutional Ownership by Quarter for Waters (NYSE:WAT)

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