Edgestream Partners L.P. Sells 1,395 Shares of Waters Co. (NYSE:WAT)

Edgestream Partners L.P. cut its holdings in Waters Co. (NYSE:WAT) by 22.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,716 shares of the medical instruments supplier’s stock after selling 1,395 shares during the period. Edgestream Partners L.P.’s holdings in Waters were worth $1,257,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Glassman Wealth Services increased its stake in shares of Waters by 39.6% in the second quarter. Glassman Wealth Services now owns 141 shares of the medical instruments supplier’s stock worth $38,000 after purchasing an additional 40 shares during the period. CWM LLC increased its stake in Waters by 12.4% during the first quarter. CWM LLC now owns 372 shares of the medical instruments supplier’s stock valued at $115,000 after acquiring an additional 41 shares during the period. Wetherby Asset Management Inc. increased its stake in Waters by 2.9% during the first quarter. Wetherby Asset Management Inc. now owns 1,645 shares of the medical instruments supplier’s stock valued at $511,000 after acquiring an additional 46 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Waters by 1.0% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,888 shares of the medical instruments supplier’s stock valued at $1,513,000 after acquiring an additional 50 shares during the period. Finally, Orion Portfolio Solutions LLC increased its stake in Waters by 4.8% during the first quarter. Orion Portfolio Solutions LLC now owns 1,100 shares of the medical instruments supplier’s stock valued at $341,000 after acquiring an additional 50 shares during the period. 94.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WAT has been the topic of several research reports. StockNews.com initiated coverage on Waters in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Sanford C. Bernstein initiated coverage on Waters in a research note on Thursday, September 28th. They set a “market perform” rating and a $280.00 price target on the stock. Barclays lowered Waters from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $270.00 to $230.00 in a research note on Monday, November 13th. JPMorgan Chase & Co. lowered their price objective on Waters from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 8th. Finally, Wells Fargo & Company lowered their price objective on Waters from $305.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat, Waters has an average rating of “Hold” and a consensus target price of $298.00.

Waters Stock Down 0.3 %

Shares of WAT opened at $261.04 on Tuesday. The company has a market capitalization of $15.44 billion, a P/E ratio of 23.71, a PEG ratio of 5.83 and a beta of 0.90. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.19 and a quick ratio of 1.46. Waters Co. has a one year low of $231.90 and a one year high of $353.70. The business’s 50 day simple moving average is $260.15 and its 200-day simple moving average is $267.56.

Waters (NYSE:WAT) last announced its earnings results on Tuesday, November 7th. The medical instruments supplier reported $2.84 EPS for the quarter, topping the consensus estimate of $2.56 by $0.28. The business had revenue of $711.69 million for the quarter, compared to the consensus estimate of $722.27 million. Waters had a return on equity of 102.22% and a net margin of 21.80%. Waters’s revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.64 EPS. As a group, sell-side analysts predict that Waters Co. will post 11.69 EPS for the current fiscal year.

About Waters

Waters Corporation, a specialty measurement company, 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.