Absher Wealth Management LLC Cuts Stock Holdings in Waters Co. (NYSE:WAT)

Absher Wealth Management LLC cut its position in shares of Waters Co. (NYSE:WAT) by 24.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,887 shares of the medical instruments supplier’s stock after selling 949 shares during the period. Absher Wealth Management LLC’s holdings in Waters were worth $1,039,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WAT. Wealth Enhancement Advisory Services LLC raised its holdings in Waters by 4.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,621 shares of the medical instruments supplier’s stock worth $1,246,000 after purchasing an additional 146 shares during the period. First Trust Direct Indexing L.P. lifted its position in shares of Waters by 11.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,685 shares of the medical instruments supplier’s stock valued at $1,268,000 after buying an additional 379 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Waters by 12.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,134 shares of the medical instruments supplier’s stock valued at $7,619,000 after acquiring an additional 2,448 shares during the period. BNP Paribas Financial Markets increased its holdings in Waters by 29.6% in the 1st quarter. BNP Paribas Financial Markets now owns 86,834 shares of the medical instruments supplier’s stock worth $29,891,000 after acquiring an additional 19,810 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in Waters by 25.4% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,772 shares of the medical instruments supplier’s stock worth $610,000 after acquiring an additional 359 shares during the period. Institutional investors and hedge funds own 94.01% of the company’s stock.

Waters Trading Up 16.7 %

NYSE:WAT traded up $54.12 on Friday, hitting $377.23. The stock had a trading volume of 382,881 shares, compared to its average volume of 422,089. The company has a fifty day moving average price of $341.42 and a two-hundred day moving average price of $324.75. The stock has a market cap of $22.39 billion, a price-to-earnings ratio of 37.61, a PEG ratio of 6.42 and a beta of 0.95. The company has a quick ratio of 1.42, a current ratio of 2.10 and a debt-to-equity ratio of 1.42. Waters Co. has a 1-year low of $241.40 and a 1-year high of $384.99.

Waters (NYSE:WAT) last issued its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.08. Waters had a return on equity of 56.81% and a net margin of 20.71%. The company had revenue of $709.00 million during the quarter, compared to analyst estimates of $700.09 million. During the same period in the prior year, the business posted $2.80 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts expect that Waters Co. will post 11.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays lifted their target price on shares of Waters from $300.00 to $330.00 and gave the company an “underweight” rating in a research report on Tuesday, October 15th. Evercore ISI increased their target price on Waters from $335.00 to $355.00 and gave the company an “in-line” rating in a report on Tuesday, October 1st. Leerink Partnrs upgraded Waters from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group upgraded Waters to a “hold” rating in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Waters from $330.00 to $310.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $342.58.

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.