Motley Fool Wealth Management LLC Decreases Position in Waters Corporation (NYSE:WAT)

Key Points

• Motley Fool Wealth Management LLC reduced its stake in Waters Corporation by 9.1%, selling 3,505 shares in the first quarter and now holding approximately 34,970 shares valued at $12.89 million.
• Institutional investors currently own 94.01% of Waters Corporation, reflecting significant interest from various investment firms during the first quarter.
• Waters reported a quarterly earnings per share of $2.95, exceeding estimates, with a year-over-year revenue increase of 8.8% to $771.33 million.

Motley Fool Wealth Management LLC lessened its position in shares of Waters Corporation (NYSE:WAT - Free Report) by 9.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,970 shares of the medical instruments supplier's stock after selling 3,505 shares during the period. Motley Fool Wealth Management LLC owned about 0.06% of Waters worth $12,889,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Olde Wealth Management LLC acquired a new stake in Waters in the 1st quarter valued at approximately $25,000. Zions Bancorporation National Association UT acquired a new stake in Waters in the 1st quarter valued at approximately $28,000. IFP Advisors Inc increased its position in Waters by 118.9% in 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 during the period. Whipplewood Advisors LLC increased its position in Waters by 5,200.0% in the 1st quarter. Whipplewood Advisors LLC now owns 106 shares of the medical instruments supplier's stock valued at $39,000 after acquiring an additional 104 shares during the period. Finally, CX Institutional acquired a new stake in Waters in the 1st quarter valued at approximately $75,000. 94.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wall Street Zen cut Waters from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Deutsche Bank Aktiengesellschaft set a $315.00 price target on Waters and gave the company a "hold" rating in a research report on Tuesday, August 5th. Wells Fargo & Company lowered their price target on Waters from $330.00 to $315.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 5th. Robert W. Baird reduced their price objective on Waters from $374.00 to $352.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Finally, Scotiabank reaffirmed a "sector outperform" rating and issued a $465.00 target price on shares of Waters in a research report on Friday, July 11th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $378.73.

Waters Price Performance

Shares of NYSE WAT traded up $11.12 during midday trading on Wednesday, reaching $296.64. 623,109 shares of the company were exchanged, compared to its average volume of 1,087,783. The stock's 50-day moving average price is $321.70 and its 200-day moving average price is $348.25. The stock has a market cap of $17.66 billion, a P/E ratio of 26.75, a PEG ratio of 2.66 and a beta of 1.04. Waters Corporation has a one year low of $275.05 and a one year high of $423.56. The company has a quick ratio of 1.22, a current ratio of 1.75 and a debt-to-equity ratio of 0.55.

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