Axa S.A. Sells 18,292 Shares of Waters Co. (NYSE:WAT)

Axa S.A. lowered its position in shares of Waters Co. (NYSE:WAT) by 38.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,452 shares of the medical instruments supplier’s stock after selling 18,292 shares during the period. Axa S.A.’s holdings in Waters were worth $8,545,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Indiana Trust & Investment Management CO bought a new stake in Waters during the 1st quarter valued at $25,000. Riverview Trust Co purchased a new stake in shares of Waters during the 1st quarter worth $28,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Waters during the 2nd quarter worth $33,000. Blue Trust Inc. boosted its position in Waters by 190.2% during the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 78 shares in the last quarter. Finally, TFC Financial Management Inc. grew its stake in Waters by 19,900.0% in the second quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier’s stock valued at $58,000 after purchasing an additional 199 shares during the last quarter. 94.01% of the stock is currently owned by institutional investors.

Waters Price Performance

Shares of NYSE:WAT opened at $357.33 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.42 and a debt-to-equity ratio of 1.42. Waters Co. has a twelve month low of $231.90 and a twelve month high of $367.21. The company’s 50 day moving average is $333.53 and its 200 day moving average is $324.14. The company has a market cap of $21.21 billion, a PE ratio of 35.07, a price-to-earnings-growth ratio of 5.96 and a beta of 0.95.

Waters (NYSE:WAT) last issued its earnings results on Wednesday, July 31st. The medical instruments supplier reported $2.63 earnings per share (EPS) 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 firm had revenue of $709.00 million during the quarter, compared to analysts’ expectations of $700.09 million. During the same quarter last year, the company posted $2.80 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. On average, sell-side analysts forecast that Waters Co. will post 11.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WAT. The Goldman Sachs Group upgraded shares of Waters to a “hold” rating in a report on Wednesday, July 31st. Evercore ISI lowered their target price on shares of Waters from $320.00 to $300.00 and set an “in-line” rating for the company in a research note on Tuesday, July 2nd. TD Cowen upped their price target on Waters from $325.00 to $363.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Barclays increased their price objective on Waters from $275.00 to $300.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Waters from $330.00 to $310.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $322.00.

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.