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Impax Asset Management Group plc Lowers Stock Holdings in Waters Corporation (NYSE:WAT)

Waters logo with Medical background

Impax Asset Management Group plc decreased its position in shares of Waters Corporation (NYSE:WAT - Free Report) by 40.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 424,753 shares of the medical instruments supplier's stock after selling 289,402 shares during the period. Impax Asset Management Group plc owned approximately 0.71% of Waters worth $156,551,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. raised its position in Waters by 15.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,587 shares of the medical instruments supplier's stock valued at $1,331,000 after purchasing an additional 482 shares in the last quarter. QRG Capital Management Inc. raised its position in Waters by 85.7% during the first quarter. QRG Capital Management Inc. now owns 1,642 shares of the medical instruments supplier's stock valued at $605,000 after purchasing an additional 758 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Waters by 4.1% during the first quarter. Janney Montgomery Scott LLC now owns 4,813 shares of the medical instruments supplier's stock valued at $1,774,000 after buying an additional 189 shares during the last quarter. CX Institutional purchased a new position in shares of Waters in the first quarter worth about $75,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Waters by 169.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,619 shares of the medical instruments supplier's stock worth $4,283,000 after buying an additional 7,301 shares during the period. Hedge funds and other institutional investors own 94.01% of the company's stock.

Waters Price Performance

Shares of NYSE WAT opened at $350.22 on Friday. Waters Corporation has a twelve month low of $279.24 and a twelve month high of $423.56. The firm has a market cap of $20.84 billion, a P/E ratio of 31.78, a PEG ratio of 3.46 and a beta of 1.10. The company has a 50 day moving average of $349.05 and a 200 day moving average of $364.23. The company has a quick ratio of 1.28, a current ratio of 1.81 and a debt-to-equity ratio of 0.69.

Waters (NYSE:WAT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $2.22 by $0.03. Waters had a net margin of 22.02% and a return on equity of 41.70%. The business had revenue of $661.71 million during the quarter, compared to the consensus estimate of $655.50 million. During the same quarter in the previous year, the firm posted $2.21 EPS. The firm's revenue was up 3.9% on a year-over-year basis. As a group, research analysts expect that Waters Corporation will post 12.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Bank of America lifted their price objective on Waters from $370.00 to $375.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. UBS Group decreased their price objective on Waters from $415.00 to $360.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Sanford C. Bernstein set a $400.00 price objective on Waters and gave the stock an "outperform" rating in a report on Wednesday, April 16th. Robert W. Baird lifted their price objective on Waters from $355.00 to $374.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, KeyCorp upgraded Waters from a "sector weight" rating to an "overweight" rating and set a $460.00 price objective on the stock in a report on Monday, March 31st. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $388.00.

Check Out Our Latest Stock Analysis on Waters

About Waters

(Free Report)

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.

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Institutional Ownership by Quarter for Waters (NYSE:WAT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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