Bank of New York Mellon Corp Sells 135,809 Shares of Waters Co. (NYSE:WAT)

Bank of New York Mellon Corp cut its holdings in shares of Waters Co. (NYSE:WAT) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,881,756 shares of the medical instruments supplier’s stock after selling 135,809 shares during the period. Bank of New York Mellon Corp owned 3.17% of Waters worth $698,094,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WAT. Advisory Alpha LLC lifted its holdings in Waters by 2.6% during the fourth quarter. Advisory Alpha LLC now owns 1,065 shares of the medical instruments supplier’s stock worth $395,000 after buying an additional 27 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of Waters by 2.4% during the 3rd quarter. Summit Trail Advisors LLC now owns 1,198 shares of the medical instruments supplier’s stock worth $431,000 after purchasing an additional 28 shares during the last quarter. Empowered Funds LLC boosted its position in Waters by 3.0% during the fourth quarter. Empowered Funds LLC now owns 966 shares of the medical instruments supplier’s stock valued at $358,000 after purchasing an additional 28 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its stake in Waters by 0.3% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 9,610 shares of the medical instruments supplier’s stock valued at $3,565,000 after purchasing an additional 30 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its holdings in Waters by 3.8% in the third quarter. OneDigital Investment Advisors LLC now owns 851 shares of the medical instruments supplier’s stock worth $306,000 after purchasing an additional 31 shares in the last quarter. 94.01% of the stock is owned by hedge funds and other institutional investors.

Waters Trading Up 0.5 %

Shares of NYSE:WAT opened at $381.31 on Wednesday. The business has a 50-day moving average price of $389.11 and a 200-day moving average price of $366.82. The stock has a market cap of $22.64 billion, a price-to-earnings ratio of 35.60, a PEG ratio of 3.79 and a beta of 1.01. Waters Co. has a 52-week low of $279.24 and a 52-week high of $423.56. The company has a quick ratio of 0.65, a current ratio of 0.94 and a debt-to-equity ratio of 1.14.

Waters (NYSE:WAT) last posted its quarterly earnings results on Wednesday, February 12th. The medical instruments supplier reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. Waters had a net margin of 21.56% and a return on equity of 46.31%. Equities analysts predict that Waters Co. will post 12.86 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Waters from $340.00 to $380.00 and gave the company a “neutral” rating in a report on Monday, November 4th. UBS Group raised their target price on shares of Waters from $405.00 to $410.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Bank of America reduced their price target on Waters from $430.00 to $410.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. TD Cowen raised their price objective on Waters from $363.00 to $410.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Waters from $310.00 to $325.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Eleven analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $390.40.

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.