Waters Corporation $WAT Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd cut its stake in shares of Waters Corporation (NYSE:WAT) by 14.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 86,073 shares of the medical instruments supplier’s stock after selling 14,272 shares during the period. Waters comprises approximately 0.8% of OVERSEA CHINESE BANKING Corp Ltd’s portfolio, making the stock its 28th largest holding. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Waters were worth $30,043,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in WAT. Olde Wealth Management LLC acquired a new position in shares of Waters during the first quarter worth about $25,000. Zions Bancorporation National Association UT acquired a new position in shares of Waters during the first quarter worth about $28,000. IFP Advisors Inc grew its position in shares of Waters by 118.9% during the first quarter. IFP Advisors Inc now owns 81 shares of the medical instruments supplier’s stock worth $30,000 after buying an additional 44 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Waters during the first quarter worth about $41,000. Finally, Steph & Co. acquired a new position in shares of Waters during the second quarter worth about $73,000. 94.01% of the stock is owned by institutional investors and hedge funds.

Waters Price Performance

WAT stock opened at $358.79 on Monday. The company has a market capitalization of $21.36 billion, a P/E ratio of 32.35, a PEG ratio of 3.34 and a beta of 1.04. Waters Corporation has a twelve month low of $275.05 and a twelve month high of $423.56. The business has a 50 day simple moving average of $311.56 and a 200-day simple moving average of $323.84. The company has a current ratio of 1.75, a quick ratio of 1.22 and a debt-to-equity ratio of 0.55.

Waters (NYSE:WAT) last posted its quarterly earnings data on Thursday, May 19th. The medical instruments supplier reported $2.29 earnings per share for the quarter. The business had revenue of $608.55 million during the quarter. Waters had a return on equity of 38.60% and a net margin of 21.71%. As a group, equities analysts anticipate that Waters Corporation will post 12.86 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WAT. JPMorgan Chase & Co. upped their price target on Waters from $300.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Wall Street Zen downgraded Waters from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Robert W. Baird lowered their price target on Waters from $374.00 to $352.00 and set an “outperform” rating for the company in a report on Wednesday, July 16th. Jefferies Financial Group set a $385.00 price target on Waters and gave the company a “buy” rating in a report on Monday, August 4th. Finally, Rothschild & Co Redburn began coverage on Waters in a report on Wednesday, October 8th. They issued a “buy” rating and a $390.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $376.80.

About Waters

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.