Trust Asset Management LLC Takes Position in Waters Co. (NYSE:WAT)

Trust Asset Management LLC purchased a new stake in Waters Co. (NYSE:WAT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 700 shares of the medical instruments supplier’s stock, valued at approximately $230,000.

Other large investors have also modified their holdings of the company. London Co. of Virginia acquired a new stake in Waters during the third quarter worth approximately $158,723,000. Nordea Investment Management AB grew its holdings in Waters by 129.9% during the 4th quarter. Nordea Investment Management AB now owns 973,537 shares of the medical instruments supplier’s stock valued at $322,017,000 after purchasing an additional 550,112 shares in the last quarter. Findlay Park Partners LLP acquired a new stake in Waters during the 3rd quarter valued at $78,017,000. American Century Companies Inc. grew its holdings in Waters by 34.3% during the 3rd quarter. American Century Companies Inc. now owns 832,895 shares of the medical instruments supplier’s stock worth $228,388,000 after acquiring an additional 212,754 shares in the last quarter. Finally, Fenimore Asset Management Inc. acquired a new position in Waters during the 3rd quarter worth $50,897,000. 94.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WAT has been the subject of several recent analyst reports. Barclays raised their price objective on shares of Waters from $275.00 to $300.00 and gave the stock an “underweight” rating in a report on Monday, February 12th. Stifel Nicolaus raised their price objective on shares of Waters from $290.00 to $330.00 and gave the stock a “hold” rating in a report on Wednesday, February 7th. Finally, Evercore ISI raised their price objective on shares of Waters from $320.00 to $340.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $298.67.

Insider Activity at Waters

In related news, Director Linda Baddour sold 500 shares of Waters stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $355.54, for a total value of $177,770.00. Following the sale, the director now directly owns 2,250 shares in the company, valued at approximately $799,965. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.82% of the stock is currently owned by insiders.

Waters Stock Performance

Shares of NYSE WAT traded down $1.90 during midday trading on Thursday, hitting $308.35. The company’s stock had a trading volume of 381,558 shares, compared to its average volume of 410,762. Waters Co. has a 1-year low of $231.90 and a 1-year high of $363.80. The firm’s fifty day moving average price is $335.06 and its 200-day moving average price is $306.70. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.57 and a current ratio of 2.22. The firm has a market cap of $18.29 billion, a P/E ratio of 28.42, a P/E/G ratio of 6.23 and a beta of 0.92.

Waters (NYSE:WAT) last posted its quarterly earnings results on Tuesday, February 6th. The medical instruments supplier reported $3.62 EPS for the quarter, beating the consensus estimate of $3.56 by $0.06. The business had revenue of $819.50 million during the quarter, compared to analyst estimates of $815.50 million. Waters had a net margin of 21.72% and a return on equity of 81.30%. The company’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $3.84 EPS. On average, sell-side analysts forecast that Waters Co. will post 11.89 EPS for the current fiscal year.

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.