Sumitomo Mitsui Trust Group Inc. Decreases Holdings in Waters Corporation (NYSE:WAT)

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Waters Corporation (NYSE:WAT - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 134,140 shares of the medical instruments supplier's stock after selling 1,323 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Waters worth $49,440,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in Waters in the 4th quarter valued at $28,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Waters by 129.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier's stock worth $35,000 after acquiring an additional 53 shares during the period. Whipplewood Advisors LLC boosted its position in Waters by 5,200.0% during the first quarter. Whipplewood Advisors LLC now owns 106 shares of the medical instruments supplier's stock worth $39,000 after purchasing an additional 104 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in Waters in the 4th quarter valued at about $42,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Waters by 54.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 125 shares of the medical instruments supplier's stock valued at $46,000 after purchasing an additional 44 shares during the last quarter. 94.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WAT. JPMorgan Chase & Co. increased their price target on Waters from $380.00 to $390.00 and gave the stock a "neutral" rating in a research report on Thursday, March 6th. KeyCorp upgraded Waters from a "sector weight" rating to an "overweight" rating and set a $460.00 price target for the company in a research note on Monday, March 31st. Sanford C. Bernstein set a $400.00 price target on shares of Waters and gave the company an "outperform" rating in a research note on Wednesday, April 16th. Robert W. Baird upped their target price on Waters from $355.00 to $374.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, Baird R W raised Waters from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 26th. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $388.00.

Waters Stock Down 0.5%

NYSE WAT traded down $1.70 during trading hours on Thursday, hitting $350.22. The company's stock had a trading volume of 251,699 shares, compared to its average volume of 471,262. The company has a market capitalization of $20.84 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 3.48 and a beta of 1.10. 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 Corporation has a 52 week low of $279.24 and a 52 week high of $423.56. The company's 50-day simple moving average is $348.81 and its two-hundred day simple moving average is $364.39.

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

Waters 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.