Envestnet Portfolio Solutions Inc. Sells 1,085 Shares of Waters Corporation (NYSE:WAT)

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of Waters Corporation (NYSE:WAT - Free Report) by 30.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,502 shares of the medical instruments supplier's stock after selling 1,085 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Waters were worth $922,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. increased its position in Waters by 85.7% in the first quarter. QRG Capital Management Inc. now owns 1,642 shares of the medical instruments supplier's stock worth $605,000 after buying an additional 758 shares in the last quarter. Truist Financial Corp grew its stake in shares of Waters by 60.6% during the 4th quarter. Truist Financial Corp now owns 5,098 shares of the medical instruments supplier's stock valued at $1,891,000 after acquiring an additional 1,924 shares during the period. CX Institutional purchased a new stake in Waters in the 1st quarter worth approximately $75,000. Victory Capital Management Inc. increased its holdings in Waters by 0.3% in the 4th quarter. Victory Capital Management Inc. now owns 26,864 shares of the medical instruments supplier's stock worth $9,966,000 after acquiring an additional 79 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in Waters by 10.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 512 shares of the medical instruments supplier's stock worth $189,000 after acquiring an additional 49 shares during the period. 94.01% of the stock is owned by hedge funds and other institutional investors.

Waters Price Performance

Shares of NYSE WAT traded down $2.63 during midday trading on Friday, reaching $352.28. 807,500 shares of the stock traded hands, compared to its average volume of 473,842. The company's 50 day moving average is $346.49 and its 200 day moving average is $365.42. Waters Corporation has a one year low of $279.24 and a one year high of $423.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.81 and a quick ratio of 1.28. The stock has a market capitalization of $20.96 billion, a PE ratio of 31.97, a P/E/G ratio of 3.58 and a beta of 1.11.

Waters (NYSE:WAT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The medical instruments supplier reported $2.25 EPS for the quarter, beating 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 analyst estimates of $655.50 million. During the same quarter last year, the business earned $2.21 earnings per share. Waters's quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts anticipate that Waters Corporation will post 12.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WAT. UBS Group dropped their price target on shares of Waters from $415.00 to $360.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Bank of America upped their target price on shares of Waters from $370.00 to $375.00 and gave the stock a "neutral" rating in a report on Thursday. Sanford C. Bernstein set a $400.00 price target on Waters and gave the company an "outperform" rating in a report on Wednesday, April 16th. Wall Street Zen downgraded Waters from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, Robert W. Baird increased their target price on Waters from $355.00 to $374.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $388.00.

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.