Bank of New York Mellon Corp Cuts Holdings in Waters Corporation $WAT

Bank of New York Mellon Corp decreased its position in Waters Corporation (NYSE:WAT) by 2.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,761,252 shares of the medical instruments supplier’s stock after selling 51,083 shares during the period. Bank of New York Mellon Corp’s holdings in Waters were worth $614,747,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in Waters by 2.8% in the second quarter. UMB Bank n.a. now owns 1,055 shares of the medical instruments supplier’s stock valued at $368,000 after buying an additional 29 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in Waters by 2.9% in the first quarter. Integrated Wealth Concepts LLC now owns 1,048 shares of the medical instruments supplier’s stock valued at $386,000 after buying an additional 30 shares in the last quarter. FourThought Financial Partners LLC increased its holdings in Waters by 5.1% in the first quarter. FourThought Financial Partners LLC now owns 658 shares of the medical instruments supplier’s stock valued at $243,000 after buying an additional 32 shares in the last quarter. Brown Advisory Inc. grew its position in shares of Waters by 0.8% in the first quarter. Brown Advisory Inc. now owns 5,498 shares of the medical instruments supplier’s stock valued at $2,026,000 after purchasing an additional 42 shares during the period. Finally, Horizon Investments LLC grew its position in shares of Waters by 5.2% in the first quarter. Horizon Investments LLC now owns 852 shares of the medical instruments supplier’s stock valued at $314,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Waters Stock Performance

WAT opened at $346.02 on Tuesday. The firm has a market capitalization of $20.60 billion, a PE ratio of 31.20, a PEG ratio of 3.19 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 firm’s 50-day moving average price is $317.68 and its 200 day moving average price is $324.75. 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 results on Thursday, May 19th. The medical instruments supplier reported $2.29 earnings per share for the quarter. The firm had revenue of $608.55 million for the quarter. Waters had a net margin of 21.71% and a return on equity of 38.60%. As a group, sell-side analysts expect that Waters Corporation will post 12.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on WAT. Scotiabank reiterated a “sector outperform” rating and issued a $465.00 target price on shares of Waters in a research report on Friday, July 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Waters in a research report on Wednesday, October 8th. UBS Group reiterated a “neutral” rating on shares of Waters in a research report on Tuesday, July 15th. Jefferies Financial Group set a $385.00 target price on shares of Waters and gave the company a “buy” rating in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Waters from $300.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Waters has an average rating of “Moderate Buy” and an average target price of $375.54.

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.