Glen Harbor Capital Management LLC cut its stake in shares of Waters Co. (NYSE:WAT) by 45.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,304 shares of the medical instruments supplier’s stock after selling 2,772 shares during the period. Glen Harbor Capital Management LLC’s holdings in Waters were worth $640,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in Waters by 40.5% during the second quarter. Wells Fargo & Company MN now owns 336,181 shares of the medical instruments supplier’s stock worth $65,081,000 after acquiring an additional 96,866 shares during the period. Mackay Shields LLC raised its position in Waters by 50.2% during the second quarter. Mackay Shields LLC now owns 20,112 shares of the medical instruments supplier’s stock worth $3,894,000 after acquiring an additional 6,724 shares during the period. Ontario Teachers Pension Plan Board raised its position in Waters by 62.9% during the second quarter. Ontario Teachers Pension Plan Board now owns 155,990 shares of the medical instruments supplier’s stock worth $30,198,000 after acquiring an additional 60,239 shares during the period. Pennsylvania Trust Co raised its position in Waters by 23.7% during the second quarter. Pennsylvania Trust Co now owns 5,174 shares of the medical instruments supplier’s stock worth $1,002,000 after acquiring an additional 990 shares during the period. Finally, Smith Asset Management Group LP raised its position in Waters by 18.2% during the second quarter. Smith Asset Management Group LP now owns 164,388 shares of the medical instruments supplier’s stock worth $31,864,000 after acquiring an additional 25,303 shares during the period. Institutional investors own 99.29% of the company’s stock.

Shares of NYSE WAT opened at $196.17 on Friday. The stock has a market capitalization of $14.89 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 2.37 and a beta of 0.96. The company has a quick ratio of 5.95, a current ratio of 6.58 and a debt-to-equity ratio of 0.58. Waters Co. has a 52 week low of $177.58 and a 52 week high of $220.20.

Waters (NYSE:WAT) last issued its earnings results on Tuesday, July 24th. The medical instruments supplier reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate of $1.92 by $0.03. The business had revenue of $596.20 million during the quarter, compared to analysts’ expectations of $598.73 million. Waters had a net margin of 2.12% and a return on equity of 27.85%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.76 earnings per share. equities research analysts predict that Waters Co. will post 8.11 EPS for the current fiscal year.

In related news, SVP Elizabeth B. Rae sold 4,000 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $190.62, for a total value of $762,480.00. Following the completion of the sale, the senior vice president now owns 9,443 shares of the company’s stock, valued at $1,800,024.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.98% of the company’s stock.

A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Waters from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Morgan Stanley reduced their target price on shares of Waters from $205.00 to $204.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 25th. Janney Montgomery Scott cut shares of Waters from a “buy” rating to a “neutral” rating and reduced their target price for the company from $230.00 to $211.00 in a research report on Tuesday, July 17th. Robert W. Baird increased their target price on shares of Waters from $201.00 to $212.00 and gave the company an “outperform” rating in a research report on Wednesday, July 25th. Finally, Bank of America cut shares of Waters from a “neutral” rating to an “underperform” rating and set a $190.00 target price for the company. in a research report on Monday, July 16th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $206.27.

About Waters

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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