Gulf International Bank UK Ltd Decreases Holdings in Waters Co. (WAT)

Gulf International Bank UK Ltd cut its holdings in shares of Waters Co. (NYSE:WAT) by 30.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,570 shares of the medical instruments supplier’s stock after selling 7,798 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Waters were worth $3,314,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Fundsmith Equity Fund L.P. bought a new position in shares of Waters in the second quarter worth approximately $915,485,000. Bank of New York Mellon Corp grew its holdings in shares of Waters by 4.2% in the third quarter. Bank of New York Mellon Corp now owns 4,542,036 shares of the medical instruments supplier’s stock worth $884,244,000 after purchasing an additional 183,060 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of Waters by 0.3% in the third quarter. Baillie Gifford & Co. now owns 2,564,749 shares of the medical instruments supplier’s stock worth $499,305,000 after purchasing an additional 8,810 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Waters by 1.5% in the third quarter. Janus Henderson Group PLC now owns 2,087,397 shares of the medical instruments supplier’s stock worth $406,376,000 after purchasing an additional 29,978 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Waters by 1.6% in the third quarter. Franklin Resources Inc. now owns 983,235 shares of the medical instruments supplier’s stock worth $191,416,000 after purchasing an additional 15,564 shares during the last quarter. 92.22% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:WAT opened at $198.24 on Friday. The firm has a market capitalization of $14.77 billion, a P/E ratio of 26.47, a P/E/G ratio of 1.81 and a beta of 0.92. Waters Co. has a twelve month low of $167.93 and a twelve month high of $220.20. The company has a current ratio of 6.63, a quick ratio of 5.93 and a debt-to-equity ratio of 0.61.

Waters (NYSE:WAT) last announced its earnings results on Tuesday, October 23rd. The medical instruments supplier reported $1.92 EPS for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.02. Waters had a net margin of 2.32% and a return on equity of 30.68%. The firm had revenue of $578.02 million for the quarter, compared to analysts’ expectations of $587.43 million. During the same quarter in the previous year, the business posted $1.77 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, analysts predict that Waters Co. will post 8.07 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on WAT. Goldman Sachs Group cut shares of Waters from a “neutral” rating to a “sell” rating and cut their target price for the stock from $185.00 to $180.00 in a report on Friday, November 30th. ValuEngine upgraded shares of Waters from a “hold” rating to a “buy” rating in a report on Tuesday, November 27th. Zacks Investment Research cut shares of Waters from a “hold” rating to a “sell” rating in a report on Monday, September 24th. Leerink Swann cut shares of Waters from an “outperform” rating to a “market perform” rating in a report on Monday, October 8th. Finally, JPMorgan Chase & Co. cut shares of Waters from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $185.00 to $180.00 in a report on Wednesday, December 12th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. Waters presently has an average rating of “Hold” and a consensus price target of $201.92.

In other news, SVP Michael C. Harrington sold 1,131 shares of the business’s stock in a transaction on Friday, December 14th. The shares were sold at an average price of $189.53, for a total transaction of $214,358.43. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas P. Salice sold 3,500 shares of the business’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $192.00, for a total transaction of $672,000.00. Following the sale, the director now owns 20,911 shares in the company, valued at approximately $4,014,912. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,159 shares of company stock worth $7,127,100. Company insiders own 0.98% of the company’s stock.

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Waters Profile

Waters Corporation, a specialty measurement company, provides analytical workflow solutions in the United States, Europe, Asia, and internationally. It designs, manufactures, sells, and services high and ultra performance liquid chromatography technology, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.

Further Reading: Tariff

Institutional Ownership by Quarter for Waters (NYSE:WAT)

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