Skandinaviska Enskilda Banken AB publ Sells 7,700 Shares of Waters Corporation (NYSE:WAT)

Key Points

• Skandinaviska Enskilda Banken AB has reduced its stake in Waters Corporation by 30.3%, holding 17,680 shares valued at approximately $6.5 million after selling 7,700 shares.
• Waters Corporation reported an earnings per share (EPS) of $2.25 for the last quarter, exceeding analysts' expectations, with a year-over-year revenue increase of 3.9%.
• Brokerages have set varied price targets for Waters, with recent estimates ranging from $330.00 to $460.00, reflecting a consensus price target of $381.94.

Skandinaviska Enskilda Banken AB publ trimmed its stake in Waters Corporation (NYSE:WAT - Free Report) by 30.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,680 shares of the medical instruments supplier's stock after selling 7,700 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Waters were worth $6,516,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Assetmark Inc. increased its holdings in shares of Waters by 21.7% in the first quarter. Assetmark Inc. now owns 1,545 shares of the medical instruments supplier's stock valued at $569,000 after purchasing an additional 275 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Waters by 6.2% during the first quarter. Cetera Investment Advisers now owns 4,339 shares of the medical instruments supplier's stock worth $1,599,000 after acquiring an additional 252 shares during the period. Avantax Advisory Services Inc. lifted its holdings in Waters by 18.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 1,315 shares of the medical instruments supplier's stock worth $485,000 after purchasing an additional 201 shares during the last quarter. J. W. Coons Advisors LLC bought a new stake in Waters in the 1st quarter valued at $281,000. Finally, Madison Asset Management LLC increased its position in Waters by 9.7% during the 1st quarter. Madison Asset Management LLC now owns 309,319 shares of the medical instruments supplier's stock worth $114,006,000 after buying an additional 27,243 shares during the period. Institutional investors own 94.01% of the company's stock.

Analysts Set New Price Targets

WAT has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Waters from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Barclays decreased their target price on shares of Waters from $400.00 to $350.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Jefferies Financial Group reiterated a "buy" rating on shares of Waters in a research report on Monday, July 14th. Sanford C. Bernstein set a $400.00 price objective on shares of Waters and gave the company an "outperform" rating in a research report on Wednesday, April 16th. Finally, UBS Group reiterated a "neutral" rating on shares of Waters in a research note on Tuesday, July 15th. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Waters currently has an average rating of "Moderate Buy" and a consensus target price of $381.94.

Waters Price Performance

Shares of WAT traded down $1.08 during midday trading on Thursday, reaching $297.99. The stock had a trading volume of 574,023 shares, compared to its average volume of 593,718. The company's 50-day moving average is $334.87 and its 200 day moving average is $356.62. The company has a market capitalization of $17.73 billion, a price-to-earnings ratio of 27.04, a price-to-earnings-growth ratio of 2.99 and a beta of 1.10. Waters Corporation has a 12-month low of $279.61 and a 12-month high of $423.56. The company has a current ratio of 1.81, a quick ratio of 1.28 and a debt-to-equity ratio of 0.69.

Waters (NYSE:WAT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.03. Waters had a net margin of 22.02% and a return on equity of 41.70%. The business had revenue of $661.71 million during the quarter, compared to the consensus estimate of $655.50 million. During the same period in the previous year, the firm posted $2.21 earnings per share. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities analysts predict that Waters Corporation will post 12.86 EPS for the current fiscal year.

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.