Sumitomo Mitsui Trust Group Inc. Buys 6,326 Shares of Waters Corporation $WAT

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Waters Corporation (NYSE:WAT) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,471 shares of the medical instruments supplier’s stock after buying an additional 6,326 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Waters were worth $96,873,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in WAT. Anchor Investment Management LLC bought a new stake in Waters in the first quarter valued at $27,000. Resources Management Corp CT ADV bought a new stake in Waters in the 1st quarter valued at about $27,000. PenderFund Capital Management Ltd. bought a new stake in Waters in the 2nd quarter valued at about $28,000. Vision Retirement LLC acquired a new position in Waters during the 1st quarter valued at about $29,000. Finally, Bollard Group LLC acquired a new position in Waters during the 1st quarter valued at about $29,000. 94.01% of the stock is owned by institutional investors and hedge funds.

Waters Stock Down 2.9%

WAT stock opened at $449.12 on Tuesday. The firm’s 50-day moving average is $431.15 and its two-hundred day moving average is $370.83. The company has a market capitalization of $44.13 billion, a price-to-earnings ratio of 112.00, a price-to-earnings-growth ratio of 2.77 and a beta of 1.15. Waters Corporation has a 52 week low of $282.77 and a 52 week high of $482.28. The company has a current ratio of 1.86, a quick ratio of 1.29 and a debt-to-equity ratio of 0.32.

Waters (NYSE:WAT) last posted its quarterly earnings data on Tuesday, August 4th. The medical instruments supplier reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $3.01 by $0.04. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.62 billion. Waters had a return on equity of 11.27% and a net margin of 3.58%. The company’s quarterly revenue was up 113.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.95 EPS. On average, analysts forecast that Waters Corporation will post 14.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Christopher Kuebler sold 3,626 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $397.94, for a total transaction of $1,442,930.44. Following the completion of the transaction, the director owned 17,808 shares of the company’s stock, valued at $7,086,515.52. This trade represents a 16.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

WAT has been the subject of several recent analyst reports. Jefferies Financial Group upped their target price on shares of Waters from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Guggenheim lifted their price target on Waters from $440.00 to $490.00 and gave the company a “buy” rating in a report on Thursday, October 1st. Wall Street Zen raised Waters from a “hold” rating to a “buy” rating in a report on Monday, October 26th. Wells Fargo & Company lifted their target price on Waters from $370.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Finally, Leerink Partners lifted their target price on Waters from $420.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $457.50.

Waters Company Profile

Waters Corporation (NYSE:WAT) develops and manufactures analytical technologies used to measure, identify and characterize chemical and biological substances. Its customers include pharmaceutical and biotechnology companies, industrial manufacturers, academic and government laboratories, and organizations involved in food, environmental and clinical testing.

The company’s product portfolio includes high-performance liquid chromatography and ultra-performance liquid chromatography systems, mass spectrometers, chromatography columns and consumables, and laboratory software for data management and analysis.