Prudential PLC Sells 2,167 Shares of Waters Corporation (NYSE:WAT)

Key Points

• Prudential PLC reduced its shareholding in Waters Corporation by 8.1%, selling 2,167 shares to bring its total to 24,740 shares valued at $9,118,000.
• Waters Corporation's reported earnings of $2.95 per share exceeded analysts' expectations, along with a year-over-year revenue increase of 8.8%.
• The company has received mixed ratings from analysts, with a consensus rating of "Hold" and an average price target of $378.73 for its shares.

Prudential PLC trimmed its holdings in shares of Waters Corporation (NYSE:WAT - Free Report) by 8.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,740 shares of the medical instruments supplier's stock after selling 2,167 shares during the quarter. Prudential PLC's holdings in Waters were worth $9,118,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of WAT. Brighton Jones LLC increased its stake in Waters by 112.9% during the 4th quarter. Brighton Jones LLC now owns 1,269 shares of the medical instruments supplier's stock worth $471,000 after purchasing an additional 673 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Waters by 29.2% during the 4th quarter. Federated Hermes Inc. now owns 270 shares of the medical instruments supplier's stock worth $100,000 after acquiring an additional 61 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Waters by 11.5% during the 4th quarter. Cerity Partners LLC now owns 5,962 shares of the medical instruments supplier's stock worth $2,187,000 after acquiring an additional 613 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Waters during the 4th quarter worth approximately $40,404,000. Finally, Sterling Capital Management LLC grew its stake in shares of Waters by 27.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,944 shares of the medical instruments supplier's stock worth $721,000 after acquiring an additional 413 shares in the last quarter. 94.01% of the stock is owned by institutional investors.

Waters Trading Up 2.1%

NYSE WAT opened at $285.23 on Wednesday. Waters Corporation has a 12 month low of $275.05 and a 12 month high of $423.56. The stock has a 50 day moving average of $322.84 and a 200-day moving average of $348.61. The company has a current ratio of 1.75, a quick ratio of 1.22 and a debt-to-equity ratio of 0.55. The company has a market cap of $16.98 billion, a PE ratio of 25.72, a PEG ratio of 2.61 and a beta of 1.04.

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

Analyst Upgrades and Downgrades

WAT has been the subject of several research reports. Deutsche Bank Aktiengesellschaft set a $315.00 price target on shares of Waters and gave the stock a "hold" rating in a research note on Tuesday, August 5th. Robert W. Baird decreased their price target on shares of Waters from $374.00 to $352.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Scotiabank reaffirmed a "sector outperform" rating and set a $465.00 price target on shares of Waters in a research note on Friday, July 11th. UBS Group reaffirmed a "neutral" rating on shares of Waters in a research note on Tuesday, July 15th. Finally, Bank of America raised their price target on shares of Waters from $370.00 to $375.00 and gave the stock a "neutral" rating in a research note on Thursday, June 26th. Ten equities research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $378.73.

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.

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