Waters Co. (NYSE:WAT) Shares Sold by AIA Group Ltd

AIA Group Ltd lessened its stake in shares of Waters Co. (NYSE:WAT) by 9.6% during the first quarter, Holdings Channel.com reports. The fund owned 7,424 shares of the medical instruments supplier’s stock after selling 784 shares during the period. AIA Group Ltd’s holdings in Waters were worth $2,556,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Indiana Trust & Investment Management CO acquired a new position in shares of Waters during the first quarter valued at approximately $25,000. Riverview Trust Co bought a new stake in Waters during the first quarter worth approximately $28,000. Exchange Traded Concepts LLC bought a new stake in Waters during the fourth quarter worth approximately $35,000. Wetzel Investment Advisors Inc. bought a new stake in Waters during the fourth quarter worth approximately $39,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Waters during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 94.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on WAT. Stifel Nicolaus raised their target price on shares of Waters from $330.00 to $332.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Jefferies Financial Group began coverage on shares of Waters in a report on Monday, June 3rd. They set a “hold” rating and a $320.00 target price for the company. Barclays reduced their target price on shares of Waters from $295.00 to $275.00 and set an “underweight” rating for the company in a report on Friday, June 28th. TD Cowen raised their target price on shares of Waters from $350.00 to $358.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Finally, Evercore ISI reduced their target price on shares of Waters from $320.00 to $300.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. Based on data from MarketBeat.com, Waters presently has an average rating of “Hold” and an average price target of $301.20.

Waters Trading Up 0.3 %

Waters stock traded up $0.92 during midday trading on Friday, reaching $302.40. The stock had a trading volume of 276,441 shares, compared to its average volume of 447,868. Waters Co. has a twelve month low of $231.90 and a twelve month high of $367.21. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.94 and a quick ratio of 1.30. The firm has a market cap of $17.94 billion, a price-to-earnings ratio of 29.68, a PEG ratio of 4.59 and a beta of 0.95. The firm’s fifty day simple moving average is $311.98 and its two-hundred day simple moving average is $321.59.

Waters (NYSE:WAT) last released its earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.11. Waters had a net margin of 20.75% and a return on equity of 66.59%. The company had revenue of $636.80 million during the quarter, compared to the consensus estimate of $635.57 million. During the same quarter in the prior year, the firm earned $2.49 EPS. The company’s revenue was down 7.0% compared to the same quarter last year. Equities analysts anticipate that Waters Co. will post 11.85 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard H. Fearon bought 1,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was bought at an average price of $332.90 per share, for a total transaction of $332,900.00. Following the transaction, the director now directly owns 1,653 shares in the company, valued at $550,283.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Waters news, Director Richard H. Fearon purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average price of $332.90 per share, for a total transaction of $332,900.00. Following the acquisition, the director now owns 1,653 shares of the company’s stock, valued at $550,283.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher A. Kuebler sold 4,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total transaction of $1,446,560.00. Following the transaction, the director now owns 14,716 shares in the company, valued at approximately $5,321,894.24. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Waters Company 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.