Meiji Yasuda Asset Management Co Ltd. Sells 100 Shares of Waters Co. (NYSE:WAT)

Meiji Yasuda Asset Management Co Ltd. decreased its position in Waters Co. (NYSE:WAT) by 10.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 893 shares of the medical instruments supplier’s stock after selling 100 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Waters were worth $259,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Indiana Trust & Investment Management CO purchased a new position in shares of Waters in the first quarter worth approximately $25,000. Riverview Trust Co purchased a new position in shares of Waters during the 1st quarter worth $28,000. Blue Trust Inc. grew its position in shares of Waters by 190.2% during the 2nd quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock valued at $35,000 after acquiring an additional 78 shares during the period. TFC Financial Management Inc. increased its stake in shares of Waters by 19,900.0% in the 2nd quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier’s stock worth $58,000 after purchasing an additional 199 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new stake in shares of Waters in the 2nd quarter worth $59,000. 94.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WAT has been the subject of several recent research reports. Leerink Partners raised Waters from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $325.00 to $375.00 in a report on Thursday, August 1st. Evercore ISI reduced their target price on shares of Waters from $320.00 to $300.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. TD Cowen lifted their price target on shares of Waters from $325.00 to $363.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Jefferies Financial Group began coverage on shares of Waters in a research note on Monday, June 3rd. They issued a “hold” rating and a $320.00 price objective for the company. Finally, Leerink Partnrs upgraded shares of Waters from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $318.50.

Waters Stock Performance

NYSE WAT opened at $336.56 on Friday. The stock has a market capitalization of $19.96 billion, a PE ratio of 33.03, a P/E/G ratio of 5.70 and a beta of 0.95. Waters Co. has a 1-year low of $231.90 and a 1-year high of $367.21. The business has a 50 day simple moving average of $329.70 and a two-hundred day simple moving average of $324.40. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.10 and a quick ratio of 1.42.

Waters (NYSE:WAT) last announced its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.08. Waters had a net margin of 20.71% and a return on equity of 56.81%. The company had revenue of $709.00 million for the quarter, compared to analysts’ expectations of $700.09 million. During the same quarter in the previous year, the business posted $2.80 earnings per share. Waters’s quarterly revenue was down 4.3% on a year-over-year basis. On average, research analysts predict that Waters Co. will post 11.6 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.