Bank of New York Mellon Corp Sells 69,421 Shares of Waters Corporation (NYSE:WAT)

Bank of New York Mellon Corp lessened its holdings in Waters Corporation (NYSE:WAT - Free Report) by 3.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,812,335 shares of the medical instruments supplier's stock after selling 69,421 shares during the quarter. Bank of New York Mellon Corp owned 3.05% of Waters worth $667,972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Olde Wealth Management LLC purchased a new position in shares of Waters during the 1st quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Waters during the 4th quarter valued at $28,000. Steward Partners Investment Advisory LLC lifted its position in shares of Waters by 129.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier's stock valued at $35,000 after buying an additional 53 shares during the last quarter. Whipplewood Advisors LLC lifted its position in shares of Waters by 5,200.0% during the 1st quarter. Whipplewood Advisors LLC now owns 106 shares of the medical instruments supplier's stock valued at $39,000 after buying an additional 104 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new position in shares of Waters during the 4th quarter valued at $42,000. Institutional investors own 94.01% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on WAT shares. Wall Street Zen raised Waters from a "hold" rating to a "buy" rating in a report on Saturday. Sanford C. Bernstein set a $400.00 price target on Waters and gave the company an "outperform" rating in a report on Wednesday, April 16th. UBS Group reduced their price objective on Waters from $415.00 to $360.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Bank of America increased their price objective on Waters from $370.00 to $375.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Finally, Baird R W upgraded Waters from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 26th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Waters presently has an average rating of "Moderate Buy" and an average target price of $388.00.

Waters Stock Down 0.5%

Shares of WAT traded down $1.70 on Friday, reaching $350.22. The stock had a trading volume of 251,699 shares, compared to its average volume of 472,254. The firm has a market capitalization of $20.84 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 3.46 and a beta of 1.10. 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 company has a 50-day simple moving average of $349.05 and a 200-day simple moving average of $364.25. Waters Corporation has a 12-month low of $279.24 and a 12-month high of $423.56.

Waters (NYSE:WAT - Get 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 analysts' expectations of $655.50 million. Waters had a return on equity of 41.70% and a net margin of 22.02%. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 EPS. Sell-side analysts predict that Waters Corporation will post 12.86 EPS for the current year.

About Waters

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.