Jennison Associates LLC Boosts Stake in Waters Corporation (WAT)
Jennison Associates LLC increased its stake in shares of Waters Corporation (NYSE:WAT) by 58.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,084 shares of the medical instruments supplier’s stock after buying an additional 4,085 shares during the quarter. Jennison Associates LLC’s holdings in Waters Corporation were worth $1,990,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of WAT. Oppenheimer Asset Management Inc. boosted its holdings in shares of Waters Corporation by 0.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 573 shares of the medical instruments supplier’s stock valued at $105,000 after purchasing an additional 2 shares in the last quarter. ETF Managers Group LLC acquired a new stake in shares of Waters Corporation in the 2nd quarter valued at $106,000. Intellectus Partners LLC boosted its holdings in shares of Waters Corporation by 4.9% in the 2nd quarter. Intellectus Partners LLC now owns 667 shares of the medical instruments supplier’s stock valued at $123,000 after purchasing an additional 31 shares in the last quarter. First Manhattan Co. acquired a new stake in shares of Waters Corporation in the 2nd quarter valued at $130,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Waters Corporation in the 2nd quarter valued at $160,000. 92.04% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have weighed in on WAT. Bank of America Corporation raised their target price on Waters Corporation from $192.00 to $202.00 and gave the company a “neutral” rating in a report on Friday, November 10th. Cowen and Company reiterated a “hold” rating and issued a $190.00 price target on shares of Waters Corporation in a research note on Friday, November 3rd. Zacks Investment Research cut Waters Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Citigroup Inc. reiterated a “neutral” rating and issued a $180.00 price target on shares of Waters Corporation in a research note on Wednesday, October 25th. Finally, Barclays PLC increased their price target on Waters Corporation from $188.00 to $193.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $193.62.
Shares of Waters Corporation (WAT) opened at $198.21 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 6.16 and a quick ratio of 5.71. The company has a market capitalization of $15,764.24, a PE ratio of 27.53, a PEG ratio of 2.88 and a beta of 0.83. Waters Corporation has a 12 month low of $133.35 and a 12 month high of $199.83.
Waters Corporation (NYSE:WAT) last issued its earnings results on Tuesday, October 24th. The medical instruments supplier reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.03. The company had revenue of $565.58 million during the quarter, compared to the consensus estimate of $555.25 million. Waters Corporation had a return on equity of 23.61% and a net margin of 24.34%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the business posted $1.57 EPS. analysts anticipate that Waters Corporation will post 7.42 earnings per share for the current year.
In other Waters Corporation news, SVP Rohit Khanna sold 26,913 shares of Waters Corporation stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $197.93, for a total transaction of $5,326,890.09. Following the completion of the transaction, the senior vice president now owns 13,677 shares in the company, valued at approximately $2,707,088.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Elizabeth B. Rae sold 12,000 shares of Waters Corporation stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $197.95, for a total value of $2,375,400.00. Following the transaction, the senior vice president now owns 18,129 shares of the company’s stock, valued at approximately $3,588,635.55. The disclosure for this sale can be found here. Insiders have sold a total of 57,313 shares of company stock valued at $11,120,642 in the last quarter. Company insiders own 5.07% of the company’s stock.
Waters Corporation Company Profile
Waters Corporation is an analytical instrument manufacturer. The Company operates through two segments: Waters and TA. It designs, manufactures, sells and services high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans.
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