Mawer Investment Management Ltd. Sells 234,333 Shares of Waters Corporation $WAT

Key Points

• Mawer Investment Management cut its Waters stake by 19.3%, selling 234,333 shares in the third quarter; it still held 982,614 shares valued at about $431.8 million.
• Other institutional investors, including Aberdeen Group, increased their holdings, and institutions collectively owned 94.01% of Waters’ stock.
• Waters beat quarterly earnings and revenue estimates, reporting EPS of $4.10 and revenue of $1.77 billion. Analysts’ average rating was “Moderate Buy,” with an average price target of $475.48.

Mawer Investment Management Ltd. trimmed its stake in shares of Waters Corporation (NYSE:WAT - Free Report) by 19.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 982,614 shares of the medical instruments supplier's stock after selling 234,333 shares during the quarter. Waters accounts for 3.2% of Mawer Investment Management Ltd.'s holdings, making the stock its 7th largest holding. Mawer Investment Management Ltd. owned about 1.00% of Waters worth $431,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Diversified Trust Co raised its position in Waters by 1.3% in the 3rd quarter. Diversified Trust Co now owns 2,984 shares of the medical instruments supplier's stock valued at $1,311,000 after purchasing an additional 37 shares in the last quarter. Aberdeen Group plc boosted its stake in shares of Waters by 2,015.3% in the 3rd quarter. Aberdeen Group plc now owns 2,921,255 shares of the medical instruments supplier's stock valued at $1,283,570,000 after buying an additional 2,783,151 shares during the period. Allworth Financial LP purchased a new position in shares of Waters in the 3rd quarter valued at about $1,002,000. Fifth Third Bancorp acquired a new position in shares of Waters during the third quarter worth about $7,514,000. Finally, Maryland State Retirement & Pension System grew its position in shares of Waters by 9.7% during the third quarter. Maryland State Retirement & Pension System now owns 5,895 shares of the medical instruments supplier's stock worth $2,590,000 after buying an additional 521 shares in the last quarter. Hedge funds and other institutional investors own 94.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WAT. Sanford C. Bernstein restated an "outperform" rating and set a $535.00 target price on shares of Waters in a research note on Wednesday, November 4th. Jefferies Financial Group raised their target price on shares of Waters from $450.00 to $455.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Wall Street Zen downgraded shares of Waters from a "buy" rating to a "hold" rating in a research note on Saturday. HSBC boosted their price target on shares of Waters from $450.00 to $455.00 and gave the stock a "buy" rating in a report on Tuesday, September 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Waters from $435.00 to $470.00 and gave the company a "neutral" rating in a research report on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Waters has an average rating of "Moderate Buy" and an average target price of $475.48.

Waters Stock Performance

Shares of NYSE WAT traded down $2.01 during trading hours on Friday, reaching $460.19. The stock had a trading volume of 521,846 shares, compared to its average volume of 999,270. The firm has a market cap of $45.23 billion, a price-to-earnings ratio of 197.51, a PEG ratio of 2.63 and a beta of 1.16. The company has a current ratio of 1.89, a quick ratio of 0.40 and a debt-to-equity ratio of 0.29. Waters Corporation has a fifty-two week low of $282.77 and a fifty-two week high of $483.33. The firm has a 50-day moving average of $440.45 and a 200-day moving average of $374.12.

Waters (NYSE:WAT - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The medical instruments supplier reported $4.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.00 by $0.10. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.75 billion. Waters had a return on equity of 9.91% and a net margin of 1.75%. The firm's quarterly revenue was up 120.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.40 EPS. Equities research analysts predict that Waters Corporation will post 14.65 earnings per share for the current year.

Waters Profile

Waters Corporation develops and supplies analytical instruments, software, and consumables used to identify, measure, and characterize chemical and biological materials. Its products include liquid chromatography and mass spectrometry systems, which help customers analyze complex samples. The company serves pharmaceutical and biotechnology businesses, academic and government laboratories, and customers in fields such as food, environmental testing, and materials science. Waters operates internationally, with customers and operations across multiple regions.

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