Waters Corporation (NYSE:WAT) Shares Sold by Sumitomo Mitsui Trust Group Inc.

by · The Cerbat Gem

Sumitomo Mitsui Trust Group Inc. lessened its stake in Waters Corporation (NYSE:WATFree Report) by 1.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 134,140 shares of the medical instruments supplier’s stock after selling 1,323 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Waters were worth $49,440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Lederer & Associates Investment Counsel CA boosted its position in Waters by 1.0% during the first quarter. Lederer & Associates Investment Counsel CA now owns 3,155 shares of the medical instruments supplier’s stock worth $1,163,000 after purchasing an additional 30 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Waters by 6.8% in the 4th quarter. Larson Financial Group LLC now owns 537 shares of the medical instruments supplier’s stock worth $199,000 after acquiring an additional 34 shares during the last quarter. Benjamin Edwards Inc. raised its stake in Waters by 4.8% during the fourth quarter. Benjamin Edwards Inc. now owns 744 shares of the medical instruments supplier’s stock worth $276,000 after purchasing an additional 34 shares during the period. Claret Asset Management Corp raised its position in shares of Waters by 3.6% during 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. Finally, Lido Advisors LLC raised its position in Waters by 2.2% in the fourth quarter. Lido Advisors LLC now owns 1,734 shares of the medical instruments supplier’s stock valued at $643,000 after purchasing an additional 38 shares during the period. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Analysts Set New Price Targets

WAT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Waters from $380.00 to $390.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. Baird R W upgraded Waters from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 26th. 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. Robert W. Baird increased their price target on shares of Waters from $355.00 to $374.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Finally, KeyCorp raised 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. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Waters presently has an average rating of “Moderate Buy” and a consensus price target of $388.00.

Read Our Latest Stock Analysis on WAT

Waters Stock Up 2.1%

WAT stock opened at $356.36 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.28 and a current ratio of 1.81. The stock has a market capitalization of $21.21 billion, a PE ratio of 32.34, a price-to-earnings-growth ratio of 3.45 and a beta of 1.10. Waters Corporation has a one year low of $279.24 and a one year high of $423.56. The company has a fifty day moving average of $348.28 and a 200-day moving average of $364.64.

Waters (NYSE:WATGet Free Report) last released 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. The company had revenue of $661.71 million during the quarter, compared to the consensus estimate of $655.50 million. Waters had a return on equity of 41.70% and a net margin of 22.02%. Waters’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.21 earnings per share. As a group, analysts expect that Waters Corporation will post 12.86 EPS for the current year.

Waters Profile

(Free Report)

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.

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