Columbia Asset Management Cuts Stake in Waters Co. (NYSE:WAT)

Columbia Asset Management lowered its stake in shares of Waters Co. (NYSE:WAT) by 7.3% in the first quarter, HoldingsChannel reports. The firm owned 4,436 shares of the medical instruments supplier’s stock after selling 350 shares during the period. Columbia Asset Management’s holdings in Waters were worth $1,117,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Fundsmith LLP boosted its position in Waters by 0.9% during the first quarter. Fundsmith LLP now owns 5,026,757 shares of the medical instruments supplier’s stock worth $1,265,285,000 after acquiring an additional 43,498 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Waters by 5.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,863,115 shares of the medical instruments supplier’s stock worth $917,426,000 after acquiring an additional 267,576 shares during the last quarter. Geode Capital Management LLC boosted its position in Waters by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 1,025,341 shares of the medical instruments supplier’s stock worth $193,104,000 after acquiring an additional 50,700 shares during the last quarter. Northern Trust Corp boosted its position in Waters by 5.9% during the first quarter. Northern Trust Corp now owns 991,892 shares of the medical instruments supplier’s stock worth $249,670,000 after acquiring an additional 54,938 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its position in Waters by 1.5% during the first quarter. Champlain Investment Partners LLC now owns 838,625 shares of the medical instruments supplier’s stock worth $211,090,000 after acquiring an additional 12,365 shares during the last quarter. 92.63% of the stock is owned by institutional investors and hedge funds.

NYSE:WAT opened at $203.20 on Monday. The company has a current ratio of 3.44, a quick ratio of 2.89 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $14.12 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 2.14 and a beta of 1.08. Waters Co. has a 1-year low of $167.93 and a 1-year high of $255.21.

Waters (NYSE:WAT) last posted its earnings results on Tuesday, April 23rd. The medical instruments supplier reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.13). The firm had revenue of $513.90 million during the quarter, compared to analyst estimates of $545.82 million. Waters had a net margin of 24.59% and a return on equity of 39.64%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.59 earnings per share. Equities analysts expect that Waters Co. will post 9.11 EPS for the current fiscal year.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Waters from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 12th. Cleveland Research lowered shares of Waters from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 12th. Wolfe Research assumed coverage on shares of Waters in a research report on Thursday, May 30th. They set an “underperform” rating on the stock. UBS Group lowered their price target on shares of Waters from $248.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Finally, Barclays lowered their price target on shares of Waters from $218.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 24th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $208.71.

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Waters Profile

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.

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Institutional Ownership by Quarter for Waters (NYSE:WAT)

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