Wells Fargo & Company MN Lowers Stake in Waters Co. (NYSE:WAT)

Wells Fargo & Company MN cut its stake in shares of Waters Co. (NYSE:WAT) by 8.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 139,943 shares of the medical instruments supplier’s stock after selling 12,233 shares during the period. Wells Fargo & Company MN’s holdings in Waters were worth $35,225,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in WAT. GHP Investment Advisors Inc. boosted its position in Waters by 3.0% during the 1st quarter. GHP Investment Advisors Inc. now owns 8,207 shares of the medical instruments supplier’s stock worth $2,066,000 after purchasing an additional 240 shares during the period. Pictet Asset Management Ltd. grew its position in shares of Waters by 16.6% during the 1st quarter. Pictet Asset Management Ltd. now owns 333,054 shares of the medical instruments supplier’s stock valued at $83,833,000 after buying an additional 47,429 shares during the last quarter. CIBC World Markets Inc. grew its position in shares of Waters by 525.7% during the 1st quarter. CIBC World Markets Inc. now owns 14,121 shares of the medical instruments supplier’s stock valued at $3,554,000 after buying an additional 11,864 shares during the last quarter. Advisor Group Inc. grew its position in shares of Waters by 16.5% during the 1st quarter. Advisor Group Inc. now owns 1,005 shares of the medical instruments supplier’s stock valued at $254,000 after buying an additional 142 shares during the last quarter. Finally, DE Burlo Group Inc. bought a new stake in shares of Waters during the 1st quarter valued at about $6,821,000. 92.63% of the stock is owned by institutional investors.

NYSE WAT traded down $1.11 on Friday, hitting $202.90. The stock had a trading volume of 4,352 shares, compared to its average volume of 527,974. Waters Co. has a one year low of $167.93 and a one year high of $255.21. The company has a current ratio of 3.44, a quick ratio of 2.89 and a debt-to-equity ratio of 1.15. The stock has a market cap of $14.17 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 2.16 and a beta of 1.08.

Waters (NYSE:WAT) last posted its earnings results on Tuesday, April 23rd. The medical instruments supplier reported $1.60 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.13). Waters had a return on equity of 39.64% and a net margin of 24.59%. The firm had revenue of $513.90 million during the quarter, compared to the consensus estimate of $545.82 million. During the same quarter last year, the company posted $1.59 EPS. Waters’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities research analysts expect that Waters Co. will post 9.11 earnings per share for the current fiscal year.

A number of brokerages recently weighed in on WAT. Zacks Investment Research downgraded shares of Waters from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 12th. Cleveland Research downgraded shares of Waters from a “neutral” rating to an “underperform” rating in a research report on Wednesday. Wolfe Research began coverage on shares of Waters in a research report on Thursday, May 30th. They set an “underperform” rating for the company. UBS Group lowered their price objective on shares of Waters from $248.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Finally, Barclays lowered their price objective on shares of Waters from $218.00 to $210.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 24th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. Waters presently has an average rating of “Hold” and a consensus target price of $208.71.

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About Waters

Waters Corporation, a specialty measurement company, 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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Institutional Ownership by Quarter for Waters (NYSE:WAT)

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