Sawgrass Asset Management LLC Trims Stake in Waters Co. (NYSE:WAT)

Sawgrass Asset Management LLC reduced its stake in shares of Waters Co. (NYSE:WAT) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,424 shares of the medical instruments supplier’s stock after selling 908 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Waters were worth $9,029,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WAT. Commonwealth Equity Services LLC raised its position in Waters by 3.6% during the third quarter. Commonwealth Equity Services LLC now owns 9,953 shares of the medical instruments supplier’s stock valued at $2,729,000 after acquiring an additional 345 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Waters by 2.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 8,773 shares of the medical instruments supplier’s stock valued at $2,406,000 after purchasing an additional 240 shares during the period. Concord Wealth Partners acquired a new stake in Waters in the third quarter valued at approximately $78,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Waters by 8.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,133 shares of the medical instruments supplier’s stock valued at $9,085,000 after purchasing an additional 2,671 shares during the period. Finally, IFM Investors Pty Ltd grew its holdings in Waters by 5.8% in the third quarter. IFM Investors Pty Ltd now owns 13,062 shares of the medical instruments supplier’s stock valued at $3,582,000 after purchasing an additional 717 shares during the period. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Waters Trading Down 0.7 %

NYSE:WAT traded down $2.26 on Wednesday, reaching $323.80. The company’s stock had a trading volume of 398,469 shares, compared to its average volume of 420,346. Waters Co. has a 12-month low of $231.90 and a 12-month high of $363.80. The company has a quick ratio of 1.57, a current ratio of 2.22 and a debt-to-equity ratio of 2.00. The firm has a market cap of $19.20 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 6.39 and a beta of 0.98. The stock has a 50 day moving average price of $333.23 and a 200 day moving average price of $310.76.

Waters (NYSE:WAT) last posted its earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.11. Waters had a return on equity of 81.30% and a net margin of 21.72%. The company had revenue of $636.80 million for the quarter, compared to the consensus estimate of $635.57 million. During the same quarter in the previous year, the business earned $2.49 earnings per share. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. On average, equities analysts anticipate that Waters Co. will post 11.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WAT. Evercore ISI raised their price objective on Waters from $320.00 to $340.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Barclays lowered their price target on Waters from $300.00 to $295.00 and set an “underweight” rating on the stock in a research note on Wednesday. TD Cowen lifted their price target on Waters from $350.00 to $358.00 and gave the stock a “hold” rating in a research note on Wednesday. Robert W. Baird lowered their price target on Waters from $319.00 to $312.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Stifel Nicolaus boosted their price objective on Waters from $330.00 to $332.00 and gave the stock a “hold” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating and ten have issued a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $306.70.

Insider Activity at Waters

In related news, Director Linda Baddour sold 500 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $355.54, for a total value of $177,770.00. Following the sale, the director now owns 2,250 shares in the company, valued at approximately $799,965. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.82% of the company’s stock.

Waters 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.