Nordea Investment Management AB Boosts Stake in Waters Corporation (WAT)
Nordea Investment Management AB lifted its position in shares of Waters Corporation (NYSE:WAT) by 44.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,578 shares of the medical instruments supplier’s stock after acquiring an additional 1,409 shares during the quarter. Nordea Investment Management AB’s holdings in Waters were worth $822,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its stake in shares of Waters by 0.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 573 shares of the medical instruments supplier’s stock worth $105,000 after acquiring an additional 2 shares during the period. ETF Managers Group LLC bought a new position in shares of Waters during the 2nd quarter worth $106,000. Intellectus Partners LLC grew its stake in shares of Waters by 4.9% during the 2nd quarter. Intellectus Partners LLC now owns 667 shares of the medical instruments supplier’s stock worth $123,000 after acquiring an additional 31 shares during the period. First Manhattan Co. bought a new position in shares of Waters during the 2nd quarter worth $130,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in shares of Waters during the 2nd quarter worth $160,000. Institutional investors own 92.29% of the company’s stock.
In other Waters news, SVP Elizabeth B. Rae sold 12,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $197.95, for a total value of $2,375,400.00. Following the sale, the senior vice president now owns 18,129 shares of the company’s stock, valued at approximately $3,588,635.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William J. Miller sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $194.94, for a total value of $682,290.00. Following the completion of the sale, the director now directly owns 25,849 shares in the company, valued at approximately $5,039,004.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,913 shares of company stock worth $9,084,685. Insiders own 5.07% of the company’s stock.
Several research firms have recently weighed in on WAT. Goldman Sachs Group began coverage on Waters in a research note on Tuesday, September 26th. They set a “hold” rating and a $180.00 price target for the company. Barclays increased their price objective on Waters from $188.00 to $193.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 25th. Zacks Investment Research raised Waters from a “hold” rating to a “buy” rating and set a $211.00 price objective on the stock in a report on Monday, October 23rd. BidaskClub raised Waters from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Finally, Citigroup reissued a “neutral” rating and set a $180.00 price objective on shares of Waters in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $193.62.
Shares of Waters Corporation (NYSE WAT) traded up $2.82 on Friday, reaching $199.29. The company had a trading volume of 327,928 shares, compared to its average volume of 383,533. Waters Corporation has a twelve month low of $133.71 and a twelve month high of $201.95. The stock has a market cap of $15,850.13, a PE ratio of 27.68, a price-to-earnings-growth ratio of 2.89 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 6.16 and a quick ratio of 5.71.
Waters (NYSE:WAT) last released its quarterly earnings results on Tuesday, October 24th. The medical instruments supplier reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.03. Waters had a return on equity of 23.61% and a net margin of 24.34%. The firm had revenue of $565.58 million for the quarter, compared to analysts’ expectations of $555.25 million. During the same quarter last year, the firm posted $1.57 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. research analysts predict that Waters Corporation will post 7.42 earnings per share for the current year.
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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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