Waters Co. (WAT) Position Reduced by Bank of Stockton

Bank of Stockton reduced its holdings in Waters Co. (NYSE:WAT) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,105 shares of the medical instruments supplier’s stock after selling 153 shares during the quarter. Bank of Stockton’s holdings in Waters were worth $1,284,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in WAT. Norges Bank bought a new stake in shares of Waters in the fourth quarter worth about $130,150,000. Morgan Stanley increased its stake in shares of Waters by 188.1% during the third quarter. Morgan Stanley now owns 527,562 shares of the medical instruments supplier’s stock worth $102,707,000 after purchasing an additional 344,432 shares during the period. Bristol John W & Co. Inc. NY bought a new position in shares of Waters during the fourth quarter worth approximately $52,302,000. Massachusetts Financial Services Co. MA increased its stake in shares of Waters by 5.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,863,115 shares of the medical instruments supplier’s stock worth $917,426,000 after purchasing an additional 267,576 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Waters by 4.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,542,036 shares of the medical instruments supplier’s stock worth $884,244,000 after acquiring an additional 183,060 shares during the period. Institutional investors own 95.90% of the company’s stock.

WAT has been the topic of a number of recent research reports. TheStreet upgraded Waters from a “c+” rating to a “b” rating in a research note on Thursday, January 17th. Robert W. Baird downgraded Waters from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $191.00 to $211.00 in a report on Thursday, January 24th. Bank of America raised Waters from an “underperform” rating to a “neutral” rating in a research report on Thursday, January 3rd. Zacks Investment Research upgraded Waters from a “hold” rating to a “buy” rating and set a $203.00 target price on the stock in a research note on Monday, December 31st. Finally, Needham & Company LLC assumed coverage on Waters in a research note on Wednesday, January 2nd. They issued a “hold” rating and a $177.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $208.99.

Shares of NYSE WAT opened at $240.71 on Wednesday. Waters Co. has a 52-week low of $167.93 and a 52-week high of $255.21. The company has a debt-to-equity ratio of 0.73, a quick ratio of 5.28 and a current ratio of 5.93. The firm has a market capitalization of $17.61 billion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 2.46 and a beta of 1.19.

Waters (NYSE:WAT) last posted its earnings results on Wednesday, January 23rd. The medical instruments supplier reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.23. The firm 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%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.51 EPS. On average, equities analysts forecast that Waters Co. will post 9.35 earnings per share for the current year.

In other Waters news, SVP Terrence P. Kelly sold 2,942 shares of the business’s stock in a transaction dated Monday, January 28th. The shares were sold at an average price of $228.95, for a total value of $673,570.90. Following the completion of the sale, the senior vice president now directly owns 4,888 shares of the company’s stock, valued at approximately $1,119,107.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Mark T. Beaudouin sold 27,848 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 2,796 shares of the company’s stock, valued at $630,106.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 105,032 shares of company stock valued at $24,284,760. 0.98% of the stock is owned by corporate insiders.

ILLEGAL ACTIVITY WARNING: This report was published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this report on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The original version of this report can be read at https://www.chaffeybreeze.com/2019/04/17/waters-co-wat-position-reduced-by-bank-of-stockton.html.

Waters Company 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.

Read More: How to calculate compound interest

Want to see what other hedge funds are holding WAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waters Co. (NYSE:WAT).

Institutional Ownership by Quarter for Waters (NYSE:WAT)

Receive News & Ratings for Waters Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waters and related companies with MarketBeat.com's FREE daily email newsletter.