Shell Asset Management Co. Sells 68 Shares of Waters Co. (NYSE:WAT)

Shell Asset Management Co. trimmed its holdings in Waters Co. (NYSE:WAT) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,531 shares of the medical instruments supplier’s stock after selling 68 shares during the quarter. Shell Asset Management Co.’s holdings in Waters were worth $939,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Waters in the fourth quarter worth $28,000. Bank of Jackson Hole Trust bought a new stake in Waters in the 4th quarter valued at $34,000. Steward Partners Investment Advisory LLC lifted its stake in Waters by 129.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier’s stock worth $35,000 after purchasing an additional 53 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Waters in the 4th quarter worth $42,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Waters by 54.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 125 shares of the medical instruments supplier’s stock worth $46,000 after purchasing an additional 44 shares in the last quarter. 94.01% of the stock is currently owned by institutional investors.

Waters Price Performance

WAT stock opened at $359.38 on Friday. The stock has a market cap of $21.39 billion, a PE ratio of 33.56, a P/E/G ratio of 3.79 and a beta of 1.14. Waters Co. has a 12 month low of $279.24 and a 12 month high of $423.56. The company has a 50-day moving average price of $346.71 and a 200 day moving average price of $371.19. The company has a current ratio of 0.94, a quick ratio of 0.65 and a debt-to-equity ratio of 1.14.

Waters (NYSE:WAT) last announced its earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.03. Waters had a return on equity of 46.31% and a net margin of 21.56%. The business had revenue of $661.71 million during the quarter, compared to analyst estimates of $655.50 million. During the same quarter in the previous year, the business earned $2.21 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that Waters Co. will post 12.86 earnings per share for the current year.

Wall Street Analyst Weigh In

WAT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on Waters from $380.00 to $390.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Scotiabank raised Waters from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $430.00 to $450.00 in a research note on Thursday, February 13th. Robert W. Baird lifted their price objective on Waters from $355.00 to $374.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Sanford C. Bernstein set a $400.00 price objective on Waters and gave the stock an “outperform” rating in a report on Wednesday, April 16th. Finally, Wells Fargo & Company raised their target price on shares of Waters from $415.00 to $420.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Ten 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $390.19.

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.