The Manufacturers Life Insurance Company lowered its stake in shares of Waters Corporation (NYSE:WAT) by 4.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,384 shares of the medical instruments supplier’s stock after selling 3,668 shares during the period. The Manufacturers Life Insurance Company owned about 0.10% of Waters Corporation worth $15,146,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. increased its stake in shares of Waters Corporation by 0.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 573 shares of the medical instruments supplier’s stock worth $105,000 after purchasing an additional 2 shares in the last quarter. Diversified Trust Co increased its stake in shares of Waters Corporation by 0.4% during the second quarter. Diversified Trust Co now owns 1,285 shares of the medical instruments supplier’s stock worth $236,000 after purchasing an additional 5 shares in the last quarter. Alps Advisors Inc. increased its stake in shares of Waters Corporation by 0.3% during the second quarter. Alps Advisors Inc. now owns 3,062 shares of the medical instruments supplier’s stock worth $563,000 after purchasing an additional 8 shares in the last quarter. Lowe Brockenbrough & Co. Inc. increased its stake in shares of Waters Corporation by 0.8% during the second quarter. Lowe Brockenbrough & Co. Inc. now owns 1,528 shares of the medical instruments supplier’s stock worth $281,000 after purchasing an additional 12 shares in the last quarter. Finally, Cadence Capital Management LLC increased its stake in shares of Waters Corporation by 0.6% during the second quarter. Cadence Capital Management LLC now owns 2,216 shares of the medical instruments supplier’s stock worth $407,000 after purchasing an additional 13 shares in the last quarter. 90.95% of the stock is owned by institutional investors and hedge funds.

Shares of Waters Corporation (NYSE:WAT) opened at 181.16 on Thursday. The stock has a market capitalization of $14.46 billion, a P/E ratio of 27.30 and a beta of 0.81. The firm has a 50 day moving average of $183.99 and a 200-day moving average of $178.14. Waters Corporation has a 12 month low of $133.35 and a 12 month high of $190.39.

Waters Corporation (NYSE:WAT) last announced its quarterly earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.05. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. The firm had revenue of $558.30 million for the quarter, compared to analysts’ expectations of $553.22 million. During the same period in the previous year, the company posted $1.58 earnings per share. Waters Corporation’s revenue was up 4.0% compared to the same quarter last year. Analysts forecast that Waters Corporation will post $7.40 earnings per share for the current year.

A number of research firms have recently commented on WAT. BidaskClub raised shares of Waters Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $205.00 price objective (up previously from $195.00) on shares of Waters Corporation in a research note on Thursday, July 13th. Cleveland Research lowered shares of Waters Corporation from a “buy” rating to a “neutral” rating in a report on Monday, October 9th. Goldman Sachs Group, Inc. (The) began coverage on shares of Waters Corporation in a report on Tuesday, September 26th. They issued a “hold” rating and a $180.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Waters Corporation from a “hold” rating to a “buy” rating and set a $202.00 target price on the stock in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $186.25.

In other news, SVP Rohit Khanna sold 18,400 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $185.78, for a total transaction of $3,418,352.00. Following the transaction, the senior vice president now directly owns 22,477 shares of the company’s stock, valued at $4,175,777.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christopher A. Kuebler sold 3,500 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $179.67, for a total transaction of $628,845.00. Following the transaction, the director now directly owns 17,849 shares in the company, valued at $3,206,929.83. The disclosure for this sale can be found here. Insiders own 5.07% of the company’s stock.

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Waters Corporation 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.

Institutional Ownership by Quarter for Waters Corporation (NYSE:WAT)

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