JPMorgan Chase & Co. Decreases Position in Waters Co. (WAT)

JPMorgan Chase & Co. reduced its stake in Waters Co. (NYSE:WAT) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,485 shares of the medical instruments supplier’s stock after selling 25,402 shares during the period. JPMorgan Chase & Co.’s holdings in Waters were worth $45,650,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Fort L.P. purchased a new stake in Waters in the second quarter worth about $118,000. Cornerstone Advisors Inc. grew its holdings in Waters by 1,651.2% in the second quarter. Cornerstone Advisors Inc. now owns 753 shares of the medical instruments supplier’s stock worth $146,000 after purchasing an additional 710 shares during the period. Checchi Capital Advisers LLC purchased a new stake in Waters in the third quarter worth about $201,000. First Hawaiian Bank purchased a new stake in Waters in the third quarter worth about $208,000. Finally, Mission Wealth Management LP purchased a new stake in Waters in the third quarter worth about $208,000. 99.26% of the stock is owned by institutional investors.

In other Waters news, Director Christopher A. Kuebler sold 8,000 shares of Waters stock in a transaction on Friday, November 16th. The shares were sold at an average price of $199.67, for a total value of $1,597,360.00. Following the sale, the director now directly owns 18,911 shares in the company, valued at approximately $3,775,959.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas P. Salice sold 3,500 shares of Waters stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $192.00, for a total transaction of $672,000.00. Following the completion of the transaction, the director now directly owns 20,911 shares of the company’s stock, valued at $4,014,912. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

A number of equities research analysts have recently commented on WAT shares. Zacks Investment Research cut shares of Waters from a “hold” rating to a “sell” rating in a report on Monday, September 24th. Leerink Swann cut shares of Waters from an “outperform” rating to a “market perform” rating in a report on Monday, October 8th. UBS Group started coverage on shares of Waters in a report on Tuesday, October 9th. They set a “neutral” rating and a $210.00 price target on the stock. JPMorgan Chase & Co. cut their price target on shares of Waters from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 24th. Finally, Morgan Stanley increased their price target on shares of Waters from $204.00 to $211.00 and gave the company an “equal weight” rating in a report on Wednesday, October 10th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $206.86.

WAT opened at $196.66 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 5.93 and a current ratio of 6.63. Waters Co. has a 1-year low of $167.93 and a 1-year high of $220.20. The company has a market capitalization of $14.90 billion, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 2.36 and a beta of 0.94.

Waters (NYSE:WAT) last released its quarterly earnings results on Tuesday, October 23rd. The medical instruments supplier reported $1.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.02. Waters had a net margin of 2.32% and a return on equity of 30.68%. The business had revenue of $578.02 million for the quarter, compared to the consensus estimate of $587.43 million. During the same period last year, the firm earned $1.77 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities analysts anticipate that Waters Co. will post 8.05 EPS for the current year.

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Waters Profile

Waters Corporation, a specialty measurement company, provides analytical workflow solutions in the United States, Europe, Asia, and internationally. It designs, manufactures, sells, and services high and ultra performance liquid chromatography technology, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.

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Institutional Ownership by Quarter for Waters (NYSE:WAT)

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