ING Groep NV Sells 3,802 Shares of Waters Corporation (NYSE:WAT)

Key Points

• ING Groep NV has reduced its stake in Waters Corporation by 76.3%, leaving it with holdings worth $436,000 after selling 3,802 shares in the first quarter.
• Several institutional investors, including QRG Capital Management Inc. and Wealth Enhancement Advisory Services LLC, significantly increased their positions in Waters during the same period.
• Waters Corporation reported a quarterly earnings beat with $2.95 EPS, exceeding expectations and showing an 8.8% revenue increase year-over-year to $771.33 million.

ING Groep NV cut its position in Waters Corporation (NYSE:WAT - Free Report) by 76.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,182 shares of the medical instruments supplier's stock after selling 3,802 shares during the quarter. ING Groep NV's holdings in Waters were worth $436,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Olde Wealth Management LLC bought a new stake in shares of Waters during the first quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Waters in the 4th quarter valued at approximately $28,000. IFP Advisors Inc raised its stake in Waters by 118.9% during the 1st quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier's stock valued at $30,000 after acquiring an additional 44 shares in the last quarter. Whipplewood Advisors LLC boosted its position in Waters by 5,200.0% during the 1st quarter. Whipplewood Advisors LLC now owns 106 shares of the medical instruments supplier's stock worth $39,000 after acquiring an additional 104 shares during the period. Finally, CX Institutional bought a new position in shares of Waters in the first quarter worth $75,000. 94.01% of the stock is owned by institutional investors and hedge funds.

Waters Stock Performance

Shares of NYSE WAT traded down $1.99 during trading hours on Monday, hitting $279.22. 137,936 shares of the company's stock were exchanged, compared to its average volume of 613,939. The company's 50-day moving average price is $325.40 and its 200-day moving average price is $349.97. Waters Corporation has a 1-year low of $275.05 and a 1-year high of $423.56. The stock has a market capitalization of $16.62 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 2.62 and a beta of 1.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.75 and a quick ratio of 1.22.

Waters (NYSE:WAT - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The medical instruments supplier reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.93 by $0.02. The company had revenue of $771.33 million during the quarter, compared to analyst estimates of $745.96 million. Waters had a return on equity of 38.60% and a net margin of 21.71%. The company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.63 earnings per share. On average, sell-side analysts expect that Waters Corporation will post 12.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WAT. 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. Robert W. Baird dropped their price target on shares of Waters from $374.00 to $352.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. Wells Fargo & Company reduced their price target on shares of Waters from $330.00 to $315.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 5th. Wall Street Zen lowered shares of Waters from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Scotiabank reissued a "sector outperform" rating and set a $465.00 target price on shares of Waters in a report on Friday, July 11th. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Waters currently has an average rating of "Hold" and a consensus target price of $378.73.

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.