Waters Corporation (WAT) Shares Sold by Creative Planning
Creative Planning lowered its position in shares of Waters Corporation (NYSE:WAT) by 18.0% during the second quarter, Holdings Channel reports. The firm owned 610 shares of the medical instruments supplier’s stock after selling 134 shares during the period. Creative Planning’s holdings in Waters Corporation were worth $112,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of WAT. Trust Co. of Vermont boosted its stake in shares of Waters Corporation by 2.0% in the second quarter. Trust Co. of Vermont now owns 3,324 shares of the medical instruments supplier’s stock worth $611,000 after buying an additional 64 shares during the period. NN Investment Partners Holdings N.V. boosted its stake in shares of Waters Corporation by 1,019.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 5,529 shares of the medical instruments supplier’s stock worth $1,017,000 after buying an additional 5,035 shares during the period. Pennsylvania Trust Co boosted its stake in shares of Waters Corporation by 1.0% in the second quarter. Pennsylvania Trust Co now owns 5,209 shares of the medical instruments supplier’s stock worth $958,000 after buying an additional 50 shares during the period. Bank of Montreal Can boosted its stake in shares of Waters Corporation by 7.2% in the second quarter. Bank of Montreal Can now owns 68,663 shares of the medical instruments supplier’s stock worth $12,622,000 after buying an additional 4,623 shares during the period. Finally, Atria Investments LLC purchased a new stake in shares of Waters Corporation during the second quarter worth approximately $202,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.
Waters Corporation (NYSE:WAT) traded up 1.29% during trading on Wednesday, hitting $181.83. 121,040 shares of the stock were exchanged. Waters Corporation has a 52 week low of $133.35 and a 52 week high of $187.65. The stock has a 50 day moving average of $180.09 and a 200-day moving average of $168.45. The stock has a market cap of $14.51 billion, a P/E ratio of 27.40 and a beta of 0.84.
Waters Corporation (NYSE:WAT) last announced its quarterly earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.05. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. The company had revenue of $558.30 million for the quarter, compared to analysts’ expectations of $553.22 million. During the same quarter in the previous year, the company earned $1.58 earnings per share. Waters Corporation’s quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts expect that Waters Corporation will post $7.38 EPS for the current fiscal year.
Waters Corporation announced that its board has approved a stock repurchase program on Thursday, May 11th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical instruments supplier to buy up to 7.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
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A number of analysts have commented on the stock. BidaskClub raised shares of Waters Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Zacks Investment Research raised shares of Waters Corporation from a “hold” rating to a “buy” rating and set a $194.00 price target on the stock in a research report on Friday, July 28th. Jefferies Group LLC reaffirmed a “hold” rating and set a $175.00 price target on shares of Waters Corporation in a research report on Thursday, July 27th. Morgan Stanley reaffirmed an “underweight” rating and set a $183.00 price target (up previously from $174.00) on shares of Waters Corporation in a research report on Wednesday, July 26th. Finally, Bank of America Corporation reaffirmed a “neutral” rating and set a $192.00 price target (up previously from $180.00) on shares of Waters Corporation in a research report on Friday, July 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $186.00.
In related news, SVP Michael C. Harrington sold 24,000 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $175.33, for a total transaction of $4,207,920.00. Following the sale, the senior vice president now owns 28,073 shares of the company’s stock, valued at $4,922,039.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Laurie H. M.D. Glimcher sold 4,800 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $175.78, for a total transaction of $843,744.00. Following the sale, the director now directly owns 10,849 shares in the company, valued at approximately $1,907,037.22. The disclosure for this sale can be found here. Insiders have sold 98,580 shares of company stock worth $17,730,275 in the last three months. 5.07% of the stock is currently owned by insiders.
About Waters Corporation
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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