Waters Co. (NYSE:WAT) Shares Sold by AIA Group Ltd

AIA Group Ltd cut its holdings in Waters Co. (NYSE:WAT) by 9.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,424 shares of the medical instruments supplier’s stock after selling 784 shares during the period. AIA Group Ltd’s holdings in Waters were worth $2,556,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in Waters during the first quarter worth $469,000. Envestnet Portfolio Solutions Inc. lifted its stake in Waters by 8.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,457 shares of the medical instruments supplier’s stock worth $846,000 after purchasing an additional 190 shares in the last quarter. Empirical Finance LLC lifted its stake in Waters by 3.5% during the first quarter. Empirical Finance LLC now owns 2,148 shares of the medical instruments supplier’s stock worth $739,000 after purchasing an additional 72 shares in the last quarter. Duality Advisers LP acquired a new position in Waters during the first quarter worth $1,028,000. Finally, Advisory Alpha LLC acquired a new position in Waters during the first quarter worth $363,000. 94.01% of the stock is currently owned by institutional investors and hedge funds.

Waters Stock Performance

NYSE:WAT traded up $0.92 during mid-day trading on Friday, reaching $302.40. The stock had a trading volume of 276,441 shares, compared to its average volume of 447,868. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.30 and a current ratio of 1.94. The firm has a market capitalization of $17.94 billion, a price-to-earnings ratio of 29.68, a PEG ratio of 4.59 and a beta of 0.95. Waters Co. has a twelve month low of $231.90 and a twelve month high of $367.21. The business has a 50 day simple moving average of $311.98 and a 200 day simple moving average of $321.59.

Waters (NYSE:WAT) last announced its quarterly earnings data on Tuesday, May 7th. The medical instruments supplier reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.11. The firm had revenue of $636.80 million during the quarter, compared to the consensus estimate of $635.57 million. Waters had a net margin of 20.75% and a return on equity of 66.59%. The firm’s revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.49 earnings per share. On average, analysts expect that Waters Co. will post 11.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WAT. Robert W. Baird reduced their price objective on Waters from $319.00 to $312.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Stifel Nicolaus increased their price objective on Waters from $330.00 to $332.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. TD Cowen increased their price objective on Waters from $350.00 to $358.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Barclays reduced their price objective on Waters from $295.00 to $275.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Finally, Jefferies Financial Group began coverage on Waters in a research note on Monday, June 3rd. They issued a “hold” rating and a $320.00 price objective on the stock. One analyst has rated the stock with a sell rating and eleven have given a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $301.20.

Insider Transactions at Waters

In other news, Director Christopher A. Kuebler sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $361.64, for a total transaction of $1,446,560.00. Following the sale, the director now owns 14,716 shares of the company’s stock, valued at approximately $5,321,894.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Christopher A. Kuebler sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $361.64, for a total value of $1,446,560.00. Following the sale, the director now owns 14,716 shares of the company’s stock, valued at approximately $5,321,894.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard H. Fearon bought 1,000 shares of Waters stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average cost of $332.90 per share, for a total transaction of $332,900.00. Following the purchase, the director now owns 1,653 shares in the company, valued at approximately $550,283.70. The disclosure for this purchase can be found here. Corporate insiders own 0.82% of the company’s stock.

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.