Nordea Investment Management AB Lowers Stake in Waters Corporation $WAT

Nordea Investment Management AB lowered its position in shares of Waters Corporation (NYSE:WAT - Free Report) by 7.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 151,868 shares of the medical instruments supplier's stock after selling 12,943 shares during the quarter. Nordea Investment Management AB owned 0.26% of Waters worth $53,350,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Olde Wealth Management LLC purchased a new position in shares of Waters in the first quarter worth $25,000. Zions Bancorporation National Association UT purchased a new position in shares of Waters in the first quarter worth $28,000. IFP Advisors Inc lifted its holdings in shares of Waters by 118.9% in the first quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier's stock worth $30,000 after buying an additional 44 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Waters in the first quarter worth $41,000. Finally, Steph & Co. purchased a new position in shares of Waters in the second quarter worth $73,000. Hedge funds and other institutional investors own 94.01% of the company's stock.

Waters Trading Up 0.2%

WAT stock opened at $335.58 on Friday. 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 Corporation has a twelve month low of $275.05 and a twelve month high of $423.56. The stock has a market capitalization of $19.97 billion, a price-to-earnings ratio of 30.26, a price-to-earnings-growth ratio of 3.12 and a beta of 1.04. The firm's fifty day simple moving average is $305.36 and its two-hundred day simple moving average is $322.88.

Waters (NYSE:WAT - Get Free Report) last posted its quarterly earnings data on Thursday, May 19th. The medical instruments supplier reported $2.29 earnings per share for the quarter. Waters had a net margin of 21.71% and a return on equity of 38.60%. The business had revenue of $608.55 million for the quarter. As a group, analysts anticipate that Waters Corporation will post 12.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WAT. Rothschild Redb raised shares of Waters to a "strong-buy" rating in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Waters from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Jefferies Financial Group set a $385.00 price target on shares of Waters and gave the company a "buy" rating in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $315.00 price target on shares of Waters and gave the company a "hold" rating in a research note on Tuesday, August 5th. Finally, Robert W. Baird decreased their price target on shares of Waters from $374.00 to $352.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $376.80.

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.

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