E. Ohman J or Asset Management AB Decreases Stake in Waters Co. (NYSE:WAT)

E. Ohman J or Asset Management AB lowered its position in shares of Waters Co. (NYSE:WAT) by 10.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,524 shares of the medical instruments supplier’s stock after selling 310 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Waters were worth $930,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WAT. Aster Capital Management DIFC Ltd bought a new stake in Waters during the fourth quarter worth $28,000. Bank of Jackson Hole Trust bought a new position in Waters in the 4th quarter valued at $34,000. Steward Partners Investment Advisory LLC increased its position 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 valued at $35,000 after purchasing an additional 53 shares during the last quarter. Whipplewood Advisors LLC raised its stake in shares of Waters by 5,200.0% during the 1st 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. Finally, Murphy & Mullick Capital Management Corp purchased a new position in shares of Waters in the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Waters Stock Performance

Shares of WAT opened at $351.25 on Friday. Waters Co. has a 52-week low of $279.24 and a 52-week high of $423.56. The stock’s 50-day simple moving average is $341.26 and its 200 day simple moving average is $368.98. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.65 and a current ratio of 0.94. The stock has a market capitalization of $20.90 billion, a price-to-earnings ratio of 32.80, a price-to-earnings-growth ratio of 3.79 and a beta of 1.11.

Waters (NYSE:WAT) 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 analysts’ consensus estimates of $2.22 by $0.03. Waters had a net margin of 21.56% and a return on equity of 46.31%. The firm had revenue of $661.71 million for the quarter, compared to the consensus estimate of $655.50 million. During the same period in the prior year, the firm posted $2.21 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. Research analysts forecast that Waters Co. will post 12.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Scotiabank upgraded shares of 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 report on Thursday, February 13th. Sanford C. Bernstein set a $400.00 target price on shares of Waters and gave the company an “outperform” rating in a research report on Wednesday, April 16th. Robert W. Baird lifted their price target on shares of Waters from $355.00 to $374.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Barclays dropped their price objective on Waters from $400.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. Finally, Baird R W raised Waters from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 26th. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $390.19.

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.