Sheets Smith Wealth Management Sells 5,568 Shares of Waters Co. (NYSE:WAT)

Sheets Smith Wealth Management lessened its stake in Waters Co. (NYSE:WAT) by 94.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 310 shares of the medical instruments supplier’s stock after selling 5,568 shares during the period. Sheets Smith Wealth Management’s holdings in Waters were worth $1,820,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. raised its position in shares of Waters by 22.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 181 shares of the medical instruments supplier’s stock valued at $62,000 after acquiring an additional 33 shares during the last quarter. ETF Managers Group LLC raised its position in shares of Waters by 1.5% during the 1st quarter. ETF Managers Group LLC now owns 2,324 shares of the medical instruments supplier’s stock valued at $720,000 after acquiring an additional 34 shares during the last quarter. Whittier Trust Co. raised its position in shares of Waters by 7.9% during the 1st quarter. Whittier Trust Co. now owns 520 shares of the medical instruments supplier’s stock valued at $161,000 after acquiring an additional 38 shares during the last quarter. Czech National Bank raised its position in shares of Waters by 0.6% during the 1st quarter. Czech National Bank now owns 6,995 shares of the medical instruments supplier’s stock valued at $2,166,000 after acquiring an additional 41 shares during the last quarter. Finally, CWM LLC raised its position in shares of Waters by 12.4% during the 1st 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 last quarter. Institutional investors own 94.01% of the company’s stock.

Insider Transactions at Waters

In other news, Director Christopher A. Kuebler sold 4,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $291.48, for a total transaction of $1,165,920.00. Following the completion of the transaction, the director now directly owns 14,382 shares in the company, valued at approximately $4,192,065.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.98% of the company’s stock.

Waters Price Performance

Shares of NYSE WAT opened at $263.57 on Friday. The firm has a market cap of $15.58 billion, a PE ratio of 23.24, a PEG ratio of 3.29 and a beta of 0.87. The company has a current ratio of 2.08, a quick ratio of 1.41 and a debt-to-equity ratio of 3.35. Waters Co. has a 1-year low of $248.18 and a 1-year high of $353.70. The company has a fifty day moving average price of $277.91 and a 200 day moving average price of $284.08.

Waters (NYSE:WAT) last announced its earnings results on Wednesday, August 2nd. The medical instruments supplier reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.21. The firm had revenue of $740.58 million during the quarter, compared to analyst estimates of $733.51 million. Waters had a net margin of 22.54% and a return on equity of 124.03%. Research analysts predict that Waters Co. will post 12.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com initiated coverage on shares of Waters in a research report on Thursday, August 17th. They set a “hold” rating for the company. Barclays boosted their price target on shares of Waters from $275.00 to $288.00 and gave the company an “equal weight” rating in a report on Thursday, August 3rd. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $319.13.

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.